The global ethanol market size was valued at USD 89.1 billion in 2019 and is anticipated to register a compound annual growth rate (CAGR) of 4.8% from 2020 to 2027. The demand for the product is driven by growing usage of the product as a biofuel. The rising consumption of alcoholic beverages is another major factor supporting market growth. Ethanol can be manufactured by both natural as well as petrochemical feedstocks. In the natural process, natural sugars are fermented in the presence of yeast. Ethylene production is increasing owing to the rise in shale gas production. As oil output reduces and new ethylene capacities come online the market is expected to overstock with ethylene, which is expected to bring stagnancy in production of ethanol.