Industrial Alcohol Market To Reach USD 276.4 Billion By 2027 | CAGR 9.2% — Forencis Research
Global Industrial Alcohol Market: Key Highlights
- According to the new market research report “Industrial Alcohol Market by Type (Ethyl Alcohol, Methyl Alcohol, Isopropyl Alcohol, Isobutyl Alcohol, Benzyl Alcohol, and Others), by Source (Molasses, Corn, Grains (Excl. Corn), Fossil Fuels, and Others), by Processing Method (Fermentation Method and Synthetic Method), by Application (Fuel, Chemical Intermediates & Solvent, Pharmaceuticals, Personal Care Products, Food Ingredients, and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global industrial alcohol market is estimated to reach USD 276.4 Billion by 2027 at a CAGR of around 9.2% during the review period.
- Industrial alcohol is a volatile, colorless, and flammable liquid mostly used into biofuel.
- It is majorly obtained from molasses, fossil fuel, grains and others. It is used in an array of applications including biofuel, pharmaceuticals, and personal care.
- Isobutane and isopropanol, which is also known as rubber alcohol are also gaining wide importance owing to their applications in health and chemical industries.
- The global industrial alcohol market is chiefly driven by its use as a sanitizer, for cleaning and in chemical laboratories for another solvent usage.
Global Industrial Alcohol Market: Key Market Dynamics
- Regulatory changes by different governments in various countries across the globe, mandating the use of ethyl alcohol (ethanol) gasoline blend as fuel is the major driving factor.
- In addition, broad uses of other industrial alcohols, such as methanol, isobutanol, and isopropanol in automobile, personal care, and pharmaceutical applications are further expected to propel the growth over the forecast period
- However, fluctuations in raw material prices remain a major restraining factor for the growth of the industrial alcohol market
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Global Industrial Alcohol Market: Regional Overview
- North America
North America is expected to account for the largest share in the global industrial alcohol market during the forecast period, owing to high demand for alcohol from major end-use industries such as automotive, personal care and pharmaceutical sectors. Moreover, favorable government schemes and projects have also driven the industrial alcohol market in the North America region. For Instance, the United States Department of Agriculture (USDA) has implemented the U.S. ethanol expansion through the agricultural sector.
Asia-Pacific is expected to grow at a higher CAGR on account of the growing demand for industrial alcohol from chemical, pharmaceutical, and other industries in the region. Moreover, available of feedstock such as corn and sugarcane, stringent regulations in the energy sector imposed by the government, increased consumer awareness on environment safety & carbon emissions, strong logistic facilities, and advanced technological developments are expected to drive the industrial alcohol market in the Asia-Pacific region.
Global Industrial Alcohol Market: Key Players Overview
- Cargill, Incorporated.:
Cargill, Incorporated. is a US-based company engaged in manufacturing agricultural, food/food processing, industrial, trading and financial products and services. The company operates through major business segments, i.e., animal nutrition & protein, food ingredients & bio-industrial, origination and processing, and industrial & financial services. The company has 160,00 employees across 70 countries globally. In March 2020, Cargill Incorporated has donated 100,000 litres of disinfecting alcohol to the Belgian government to produce disinfectant hand gel for the emergency services.
Raízen is a Brazil-based one of the largest integrated energy company. The company integrate all stages of the sugarcane production chain for the production of sugar, ethanol and bioenergy. Raízen distributes and market fuels to companies from various sectors of the economy and, through the license of the Shell brand.
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