DUBLIN–(BUSINESS WIRE)–The "Industrial Alcohol Market Report" report has been added to ResearchAndMarkets.com's offering.
The Industrial Alcohol Market is Estimated to Reach USD 93.3 Billion in 2020 and is Projected to Account for USD 112.0 Billion by 2025, Recording a CAGR of 3.7% During the Forecast Period
Increase in demand for ethanol in the fuel industry is driving the market for industrial alcohol across the globe.
There is a rising demand for fuel grade ethyl alcohol which is used as a blend in transportation fuels. The North American region dominates in grain and corn production used for ethyl alcohol manufacturing. The Asia Pacific region is projected to grow at the highest growth rate.
By type, the ethyl alcohol segment is projected to dominate the industrial alcohol market during the forecast period.
Based on type, the cereals & grains segment is estimated to account for the largest share in the industrial alcohol market in 2019. Ethyl alcohol is used in a wide variety of industries due to which it is used in food-grade as well as fuel grades. Pure ethyl alcohol is used for its sanitizing, cleaning, and solvent properties.
Many medicines, food products, flavorings, and cosmetics could not be produced without it. It is used to process vaccines, compound tonics, syrups, tinctures, liniments, and antiseptics as well as being vital in the manufacture of pharmaceuticals such as chloroform, atabrine, and barbiturates. It is used in the production of adhesives, cosmetics, detergents, explosives, inks, hand cream, plastics, and textiles.
The fossil fuel segment in the industrial alcohol market is estimated to account for the largest share in 2019.
Based on the source, the fossil fuel segment is estimated to account for the largest share in the industrial alcohol market in 2019. The need to reduce dependence on fossil oil as a direct source of fuel is the major driving force for the methanol market. Methanol is used for spreading gasoline supplies in many gasoline markets around the world.
Industrial alcohols extracted from petroleum or synthetic ethyl alcohol can be manufactured easily through the hydrolysis of ethylene, which is a major petrochemical. Alcohol is synthesized from petroleum by creating ethylene, and then hydrating to form ethanol. Both synthetic and fermented alcohol meant to be used for non-drinking purposes are purposely denatured to avoid liquor tax.
The Chemical intermediates & solvents industrial alcohol segment in the industrial alcohol market is estimated to account for the largest share in 2019.
Based on application, the chemical intermediates & solvents segment is estimated to account for the largest share in the industrial alcohol market in 2019. This application of the industrial alcohol segment accounts for the largest share in the industrial alcohol market. Benzyl alcohol and isopropyl alcohol are majorly used as solvents. Approximately 46% of isopropyl alcohol produced is used in industrial solvent applications, whereas around 28% of benzyl alcohol is used as solvents. Apart from use as an industrial solvent, alcohol is also used in the manufacturing of chemical intermediaries and fertilizers.
Top industrial alcohol manufacturers include Cargill (US), Green Plains Inc. (US), and MGP Ingredients (US).Key Topics Covered:
- Growth in Demand for Bioethanol
- Rise in Demand for Methanol from End-USe Industries
- Increase in the Use of Alcohol in a Wide Spectrum of Applications
- Rise in Global Trade in Alcohol
- Fluctuating Prices of Raw Material
- The Use of Fuel-Grade Ethanol in Comparison to Methanol
- Emerging Markets: New Growth Frontiers
- Advent of Greener Ethyl Alcohol Sources
- Use of Methanol as a Marine Fuel
- Approval from Various Regulatory Bodies
- Adverse Environmental Impact of Bioethanol Production
- A Challenging Capital Cost Environment
Impact of Covid-19 on the Industrial Alcohol Market
- Archer Daniels Midland
- Dow Chemical Company
- Eastman Chemicals Company
- Exxon Mobil Corporation
- Flint Hills Resources
- Grain Processing Corporation
- Green Plains Inc.
- Greenfield Global, Inc.
- Lyondellbasell Industries N.V.
- MGP Ingredients
- Raizen Energia
- Royal Dutch Shell
- The Andersons Inc.
- Univar Solutions
- Wilmar International Limited
For more information about this report visit https://www.researchandmarkets.com/r/ks9t7e
Laura Wood, Senior Press Manager
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