Industrial Alcohol Market Overview:
The Global Industrial Alcohol Market size was valued at USD 132.5 billion in 2022 and is expected to grow at a CAGR of 8.5% over the forecast period. Distilled ethyl alcohol sold and produced for uses other than human consumption is known as industrial alcohol. It is often very powerful. Common names for it include pure ethyl alcohol, completely denatured alcohol, specifically denatured alcohol, and different solvent mixes.
The rise of alternative fuels and rising petrochemical demand have both contributed to the growth of the industrial alcohol market. Industrial alcohols are highly versatile and find extensive use in a variety of industries, including paints and coatings, pharmaceuticals, and cosmetics. A few of the alcohols utilized in the manufacturing of food, flavorings, cosmetics, and adhesives are methanol, benzyl alcohol, and isopropyl alcohol.
Industrial Alcohol Market Dynamics
Drivers:
Rising rates of alcohol use in many different disciplines
Among the several types of alcohol sold commercially, ethyl alcohol is the most commonly used industrial alcohol and is well-known worldwide. Research on the production of bio-butanol has also grown in significance and is helping to facilitate commercialization. Even though ethyl alcohol is readily available for purchase, the process of producing bio-butanol has gained significance.
Alcohols are utilized in many different industries, such as the food, pharmaceutical, home, and personal care goods, paints, inks, adhesives and coatings, research facilities, and pesticides. While ethyl alcohol is the most commonly utilized type of alcohol in these industries, specific methods also involve the use of methyl alcohol, sorbitol, maltitol, benzyl alcohol, and isopropyl alcohol.
Growing use of bio-ethanol to propel the market for industrial alcohol:
To lessen the impact of greenhouse gas emissions, bioethanol is frequently utilized as a biofuel in transportation (GHG). The rising global population and industrialization are increasing the amount of energy used. Crude oil and natural gas prices have increased as a result in recent years. The rapid depletion of renewable resources and growing concerns about climate change have led to the creation of bioethanol. The market's need for fuel that burns cleaner has been partially met by renewable energy sources like biofuels.
Request PDF Sample Copy of Report @ https://wemarketresearch.com/sample-request/industrial-alcohol-market/613
Industrial Alcohol Market: Trends and Opportunities:
The demand for alcohol in fuel and other applications is rising as a result of shifting lifestyles, expanding markets, and a trend toward the use of renewable resources in emerging countries. Future projections indicate that growing nations like China, India, and those in the Middle East and Africa would see a sharp increase in demand for alcoholic beverages like ethyl and isobutyl alcohol.
Increased alcohol use across a number of industries and the rising acceptance of cleaner energy technologies are predicted to fuel this requirement. These locations also offer a financial benefit with regard to labor, production, and processing costs. The strong demand and low production costs are two important aspects that are anticipated to help the alcohol providers.
Industrial Alcohol Market – Segmentation
By Product
- Ethyl Alcohol
- Methyl Alcohol
- Isopropyl Alcohol
- Isobutyl Alcohol
- Others
By Source
- Grains
- Sugar & Molasses
- Corn
- Fossil Fuels
- Others
By Application:
- Food Ingredient
- Transportation Fuel & Fuel Additives
- Chemical Intermediate
- Pharmaceutical
- Personal Car
- Detergent & Cleaning Chemical
- Others
Industrial Alcohol Market –Regional Analysis
Asia-Pacific is the fastest-growing area in the globe and has the biggest consumption of ethanol, which is related to the product's increasing use in the food and energy industries. The region's economies are rapidly growing as a result of several government initiatives and increasing international investment in the industrial sector. China, a significant ethanol producer, helps the monitoring the fuel and additive demands of the food business. The population increase has raised food consumption, which has also boosted alcohol demand, which is thought to be what is propelling the market's growth.
The industrial alcohol market in China is driven by various factors, including the growing demand from end-use industries such as pharmaceuticals, automotive, and food and beverages, as well as government support for the production of biofuels.
One trend in the industrial alcohol market in China is the increasing demand for biofuels. China is one of the world's largest consumers of energy, and the government has been promoting the use of biofuels to reduce dependence on fossil fuels and reduce greenhouse gas emissions. Industrial alcohol, specifically ethanol, is a key feedstock for biofuel production, and this trend is expected to drive the demand for industrial alcohol in China.
Key Players in the Industrial Alcohol Market
- CARGILL
- MGP INGREDIENTS
- GREEN PLAINS INC.
- BIRLA SUGAR
- CRISTALCO
- GREENFIELD SPECIALTY ALCOHOLS
- FLINT HILLS RESOURCES
- SIGMA ALDRICH
- THE ANDERSONS INC
- BASF
Buy This Report Here @ https://wemarketresearch.com/purchase/industrial-alcohol-market/613?license=single
About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact Us:
Mr. Robbin Joseph
Corporate Sales, USA
We Market Research
USA: +1-724-618-3925
Websites: https://wemarketresearch.com/
Email: [email protected]
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.
