Vietnam Ethanol Market (2020-2026) | Share, Growth, Industry, Revenue, Analysis, Trends, Value, Size, Outlook, Forecast, Segmentation & COVID-19 IMPACT

Topics Covered in the Vietnam Ethanol Market

The Vietnam Ethanol Market report thoroughly covers the market by purity, by sources, and by applications. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest (2023) Development of the Vietnam Ethanol Market

Vietnam Ethanol Market has been surging in the country with some promising ongoing developments. One of them is the rising replacement of biofuels with non-renewable sourced fuels in the transportation sector and during electricity generation with the purpose to reduce the greenhouse gas emission rate. Moreover, the rising government initiative in scaling up production through tax exemptions and subsidies has proven great opportunity for investors and can earn windfall profit this is estimated to leave a favorable impact on the product demand and further surge the growth of the Vietnam Ethanol industry. Additionally, advancements in ethanol production technology to achieve efficiency during ethanol production, which helps in increasing the yields while decreasing the cost are projected to open up the corridors for the significant Vietnam Ethanol Market growth in the country. 

Vietnam Ethanol Market Synopsis

Vietnam Ethanol Market is expected to witness growth during the forecast period on account of the growing consumption and production of ethanol in the country. The gasoline consumption is expected to grow with the rising demand for blended ethanol for vehicles which would further fuel the demand for the ethanol market in Vietnam. Moreover, the other key aspects boosting the growth of the ethanol market in Vietnam are the increasing popularity of premium quality alcoholic beverages along with rising production and consumption of alcoholic beverages, increasing disposable income, and changing lifestyle.

According to 6Wresearch, the Vietnam Ethanol Market size is estimated to gain momentum in the upcoming years during 2020-2026. The market is driven by the rising various growth factors such as reducing shift towards renewable energy sources, rising dependency on fossil fuels, and increasing ethanol use with the growing production of industrial products. Additionally, companies are investing in expanding the ethanol manufacturing units, which is estimated to boost the production rate and leave a positive impact on the ethanol market. Also, the growing use of E5 gasoline, a mixture of ethanol and is a cheaper alternative to pure gasoline. This factor is estimated to register a sound growth of the market in the coming years in the country. 

COVID-19 Impact on the Vietnam Ethanol Market

The pandemic had a profound impact on the Vietnam Ethanol Market which is a part of the Asia Pacific ethanol market. The pandemic caused a cessation of various industrial operations especially, automotive and construction, which reduced the ethanol chemical demand and further declined the market shares. Also, the trade restrictions led to affect the ethanol raw materials supply, as a result, in delays in the manufacturing process and unavailability of ethanol-based products. The overall impact was adverse for the market growth during the pandemic phase.

Key Players in the Vietnam Ethanol Market

Certain key players operating seamlessly in the Vietnam Ethanol Market are included:

• PetroVietnam Oil Corporation has a wide presence in the market and deals in a wide range of chemicals, including ethanol.
• Binh Son Refining and Petrochemical Company Limited is a prominent player in the country, who provides a range of chemical products, including ethanol.
• Vietnam National Petroleum Group (Petrolimex) is one of the largest petroleum distribution companies. This company is engaged in the import/ export and distribution of ethanol across the globe.
• Tung Lam Trading and Production Company Limited is one of the significant players, who produces and distributes ethanol for various production of industrial products.

Market Analysis by Sources

According to Shivankar, Research Manager, 6Wresearch, sugar, and molasses-based ethanol have been traditionally used as the primary ingredient for the production of ethanol, as Vietnam has a large sugar industry, on the other side, grain-based ethanol is also gaining traction in the country underpinned by the rising feedstock diversification and increasing availability of grains.

Market Analysis by Applications

Based on the application, the industrial solvent application segment is witnessing a high market growth in the country, while, the beverages segment is also increasing the Vietnam Ethanol Market share and a massive demand for ethanol to produce alcoholic beverages. 

Market Analysis by Purity

Based on purity, the denature segment is expected to lead a major share in the ethanol market revenue over the forecast period in Vietnam due to the increasing usage of denatured alcohol as a fuel and as a solvent from household to chemical industries for paint removal, woodworking, fueling small camping stoves and pharmaceutical uses. In terms of sources, the sugar & molasses-based segment is holding the ethanol market in Vietnam on account of increasing sugarcane-based production of ethanol and also due to the adoption of low-carbon fuel.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports:

• Vietnam Ethanol Market Overview
• Vietnam Ethanol Market Outlook
• Vietnam Ethanol Market Forecast
• Historical Data of Vietnam Ethanol Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of Vietnam Ethanol Market Revenues and Volumes, until 2026.
• Historical Data of Vietnam Ethanol Market Revenues and Volumes, by purity, for the Period 2016-2019.
• Market Size & Forecast of Vietnam Ethanol Market Revenues and Volumes, by purity, until 2026.
• Historical Data of Vietnam Ethanol Market Revenues and Volumes, by Source, for the Period 2016-2019.
• Market Size & Forecast of Vietnam Ethanol Market Revenues and Volumes, by source, until 2026.
• Historical Data of Vietnam Ethanol Market Revenues and Volumes, by application, for the Period 2016-2019.
• Market Size & Forecast of Vietnam Ethanol Market Revenues and Volumes, by application, until 2026.
• Market Drivers and Restraints
• Vietnam Ethanol Market Price Trends
• Vietnam Ethanol Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Vietnam Ethanol Market Share, By Players
• Vietnam Ethanol Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Vietnam Ethanol Market report provides a detailed analysis of the following market segments:

By Purity

• Denatured
• Non-Denatured

By Source

• Sugar & molasses Based
• Second Generation
• Grain Based

By Application

• Fuel & Fuel Additives
• Disinfectant
• Industrial Solvents
• Personal Care
• Beverages
• Others

Vietnam Ethanol Market: FAQs