BEIJING, July 24. 2022 (GLOBE NEWSWIRE) — The Global Industrial alcohol market the size accounted for USD 124 billion in 2021 and is expected to reach the market value of USD 301 billion by 2030.
Industrial alcohol means ethyl alcohol or ethanol and it contains 95% ethanol and 5% water by volume at 15.56°C. They are also used as raw materials to manufacture several chemicals such as acetaldehyde, acetic acid, ethyl acetate, glycols, ethylene dibromide, ethyl chloride, ethyl esters, etc. . The global industrial alcohol market revenue is triggered by the growing consumption of industrial alcohol as a solvent. Its main use is as a solvent in almost all industries. The rapid adoption of ethanol in emerging economies is one of the significant industrial alcohol market trends that will propel industry demand in the coming years.
Impact of COVID-19 on the Global Industrial Alcohols Market
With the spread of COVID-19 across regions, the industrial alcohol market witnessed a decline in 2020, driven by lockdowns, international border closures, and delays in cross-border transit, all of which disrupted the supply chain. ‘supply. However, the demand for industrial alcohol from the pharmaceutical industry has increased in 2021. This is due to the fact that hand hygiene through the use of disinfectants is an important preventive measure against COVID-19. Public health organizations such as the FDA, CDC, and WHO have all recommended that sanitizers and sanitizers contain at least 60% alcohol. As a result, major alcohol producers have increased production capacity to meet the insatiable desire for hand sanitizer in the face of COVID-19.
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|Market||Industrial alcohol market|
|Market size 2021||$124 billion|
|Market Forecast 2030||$301 billion|
|CAGR from 2022 to 2030||10.6%|
|Analysis period||2018 – 2030|
|Forecast data||2022 – 2030|
|Segments Covered||By product, by source, by application and by geography|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled key companies||Cargill, Cristalco, Grain Processing Corporation, Green Plains Inc., Greenfield Global Inc., MGP Ingredients, Raizen Energia, Sigma-Aldrich, The Andersons Inc. and Univar Solutions.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
|Scope of customization||10 a.m. free customization and expert advice|
Dynamics of the industrial alcohol market
Industrial alcohol is a substance used in an industrial environment. Methanol is the most widely accepted type of industrial alcohol. About 12 million tons of methanol are produced each year for industrial purposes. The other most widely used industrial alcohol is ethanol, which was one of the first industrial alcohols produced.
The manufacture of industrial alcohol is an age-old practice. However, over time, areas of use and production techniques have undergone significant changes. Industrial alcohol is distilled ethyl alcohol which is usually high strength and is produced and sold for purposes other than a beverage. Many pharmaceutical industries, chemical industries, ink industries and other related industries use industrial alcohol. Much of this alcohol is synthesized from ethylene. However, it is still commercially important to produce it by microbial fermentation using a variety of inexpensive sugar substrates. Sugar crops such as sugar beet, sugar cane, sorghum and others provide a good substrate for ethanol production.
Rising global alcohol trade is expected to fuel the growth of the industrial alcohol market. For example, in 2019 the United States exported 1.5 billion gallons of ethyl alcohol (ethanol) worth $2.4 billion. Regulations, lack of infrastructure, and competition with oil producing companies limit the growth of ethanol blends above 10% in the United States. Limited blend growth and stable ethanol-gasoline fuel demand are limiting domestic market expansion in the United States, highlighting the importance of export growth.
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Segmentation of the global industrial alcohols market
The global industrial alcohol market has been segmented into product, source, application, and region. The product segment is separated into ethyl alcohol, methyl alcohol, isobutyl alcohol, isopropyl alcohol and others. The ethyl alcohol segment has accumulated a considerable market share in 2021. Industrial alcohol is generally sold in the form of pure ethyl alcohol, completely denatured alcohol, especially denatured alcohol and proprietary solvent mixtures . The hydroxy derivative of the hydrocarbon ethane is known as ethyl alcohol.
Grains, sugar and molasses, fossil fuels, corn and others are covered under the source segment. According to our analysis, corn has generated notable industrial alcohol market share throughout the forecast period.
Based on application, the market is categorized into transportation fuel and fuel additives, food ingredients, pharmaceuticals, chemical intermediates, personal care, detergents and cleaning chemicals, and other applications. Among them, the transportation fuels and fuel additives segment has acquired substantial market share, while the pharmaceutical sector has achieved notable market growth.
Industrial Alcohol Market Regional Overview
The regional outlook of the global industrial alcohol market is given for North America, Europe, Latin America, Asia-Pacific, Middle East & Africa. Emerging countries derive significant growth from the industry. In India, ethanol is mainly consumed by petroleum marketing companies (to be blended into gasoline) and chemical industries. In Brazil, it is mainly used as a fuel for vehicles, either mainly in the form of hydrated ethanol or mixed with gasoline.
North America is expected to capture a larger share of the market in the coming years, owing to the growth of the industry, which is driven by the production and export of ethyl alcohol in the United States. However, the Asia-Pacific region is expected to have the fastest CAGR during the forecast period. This is due to high consumption and production of methyl alcohol in China and high production of ethanol in India. Indian government initiatives to use ethanol as an automotive fuel are expected to significantly increase the demand for ethanol in India.
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Players in the industrial alcohol market
Some industrial alcohol companies covered globally include Cargill, Cristalco, Grain Processing Corporation, Green Plains Inc., Greenfield Global Inc., MGP Ingredients, RaizenEnergia, Sigma-Aldrich, The Andersons Inc. and Univar Solutions.
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Mr. Richard Johnson
Acumen Research and Consulting
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