The global Industrial Alcohol Market size is expected to value at USD 223.63 billion by 2025. The market is subject to witness a substantial growth due to constantly changing regulations by local governmental agencies across the globe, and major focus on promotion of ethyl alcohol (ethanol) gasoline blend as clean fuel by governments and private bodies. Globally, the industrial alcohol industry is predicted to grow at CAGR of 8.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the market.
Ethanol is one of the fastest growing segment in the industrial alcohol market with highest revenue generation in last couple of years. Higher demand for fuel grade ethanol from end-user industries are expected to boost growth of the market in coming years. Increasing health consciousness among individual and governmental agencies are leading to high-end demand of a viable alternative for fossil fuels to curb greenhouse gas emissions, majorly in transportation sector.
Critical properties of ethanol such as lower carbon emission makes it an ideal choice as a clean fuel in transportation sector. Applications of the ethanol varies from fuel grade, to pharmaceutical to food & beverage sector. Ethanol is increasingly used as a food grade variant. Industrial alcohol is developed from naturally found variants such as corn, sugarcane syrups, fossil fuels, and other types of grains.
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Increasing adoption of the ethyl alcohol market from North America and South America is expected to fuel demand of the industrial alcohol industry over the forecast period. Corn is widely used in the production of the ethanol in North America, while sugarcane is widely adopted in South America for the production the ethanol. Methanol segment has also shown substantial growth in the market in recent years.
Methanol is produced from syn-gas, and widely adopted in the chemical industry for manufacturing of anti-freezes, catalyst, denaturant and solvent, which are vital for the production of different chemicals. The industrial alcohol market is majorly categorized into four types such as ethyl alcohol, methyl alcohol, isopropyl alcohol and isobutyl alcohol. Both is propyl alcohol and isobutyl alcohol have witnessed goring popularity from different end use industries.
Chemicals industry has witnessed highest consummation of the industrial alcohol in last few decades. Methanol is highly favored among various chemical manufactures across the globe. Methanol is majorly used to produce formaldehyde, which is widely utilized for the production various chemicals used in the construction industry such as plastics, paints, resin-related adhesives, and explosive.
Application of formaldehyde further extends to plywood manufacturing as well. Industrial alcohol such as isopropyl alcohol and isobutyl alcohol are also utilized for production of disinfectant, which is formed by liquefying lipids and denaturing proteins-based ingredients that leads to elimination of different types of viral and bacterial cells. Application of the isobutanol involves formation of agricultural chemical intermediate. Properties of isobutanol include de-icing fluids, anti-erosion and anti-wear inhibitor in engine oils.
Industrial alcohol is commonly known as distilled ethyl alcohol (C2H5OH). Common application of the industrial alcohol involves packaged beverage. Industrial alcohol is typically dispensed in the form of ethanol after processing. The industrial alcohol industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the early adoption of industrial alcohol and existence well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the industrial alcohol market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rising applications of industrial alcohol for production of cosmetic, personal care products and pharmaceutical industries, as a clean fuel, and during the processing of food products. The key players in the industrial alcohol industry are Exxon Mobil Co., Royal Dutch Shell Plc, BASF SE, HPCL Biofuels Limited, and Eastman Chemical Company.
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The global ''industrial alcohol market'' size is expected to experience significant growth by reaching USD 241.42 billion by 2027.
Fortune Business Insights, in its latest report, titled, “Industrial Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Ethyl Alcohol, Methyl Alcohol, Isopropyl, Isobutyl Alcohol, and Others), By Source (Sugar & Molasses, Grains, Corn, Fossil Fuels, and Others), By Application (Personal Care, Chemical Intermediates, Food Industry, Pharmaceutical, Fuels, and Others), and Geography Forecast, 2020-2027.”, mentions that the market stood at USD 111.26 billion in 2019 and is likely to exhibit a CAGR of 11.7% between 2020 and 2027.
The growing concerns over the degradation of environment is driving the demand for its byproducts that and clean and pure, while being affordable across the globe.
List of the Leading Companies Profiled in the Global Industrial Alcohol Market are:Cargill, Incorporated (U.S.)Cristalco (France)Green Plains Inc. (U.S.)Raizen Energia (Brazil)MGP Ingredients (U.S.)Sigma Aldrich (U.S.)The Andersons Inc. (U.S.)Greenfield Specialty Alcohols (Canada)Grain Processing Corporation (U.S.)Flint Hills Resources (U.S.)Other Key PlayersFortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market.
What does the Report Include?The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon.
Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market.
