Feb 11, 2021: 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.
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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.
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.
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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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