Industrial Alcohol Market Outlook
According to a new report by Expert Market Research titled, “Global Industrial Alcohol Market Size, Share, Trends, Growth, Key Players, Report and Forecast 2024-2032, the industrial alcohol market is projected to grow at a CAGR of 7.9% between 2024 and 2032. Aided by the increasing demand for biofuel and the escalating uses of industrial alcohol across various sectors, the market is expected to grow significantly by 2032.
Industrial alcohol, also known as ethyl alcohol, is a distilled form of ethanol that is used in a variety of applications, including fuel, solvents, antiseptics, and preservatives. Due to its desirable properties, such as its high-octane number and ability to reduce greenhouse gas emissions, industrial alcohol is a key ingredient in many industrial processes, including the production of biofuels, pharmaceuticals, cosmetics, and personal care products.
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The global industrial alcohol market growth is being driven primarily by the rising demand for biofuel. With the increasing recognition of the environmental implications of fossil fuel consumption, there has been a notable shift toward renewable energy sources, leading to a surge in demand for biofuels, where industrial alcohol plays a crucial role. Moreover, government policies and regulations encouraging the use of biofuels are further stimulating the industrial alcohol market.
Additionally, the growing use of industrial alcohol in the pharmaceutical industry is propelling the industrial alcohol market development. Industrial alcohol serves as an effective disinfectant and antiseptic, which is vital in various pharmaceutical applications, such as the production of sanitisers, disinfectants, and medicinal drugs. In light of the ongoing global health crisis, the demand for these products has skyrocketed, thereby boosting the market growth.
The extensive use of industrial alcohol in the cosmetics and personal care industry also significantly contributes to the industrial alcohol market expansion. Industrial alcohol is used in many cosmetics and personal care products, including perfumes, lotions, and creams, due to its ability to act as a solvent, preservative, and viscosity-decreasing agent. As consumer spending on these products continues to rise, the industrial alcohol market is expected to grow accordingly.
Further, the growing demand for industrial alcohol in the chemical industry is enhancing its market prospects. Industrial alcohol is a critical ingredient in the production of a wide range of chemicals, including solvents, detergents, and polymers. With the chemical industry witnessing significant growth, the industrial alcohol market demand.
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Industrial Alcohol Market Segmentation
The market can be divided based on type, source, purity, functionality, process, application, and region.
Market Breakup by Type
- Ethyl Alcohol
- Methyl Alcohol
- Isobutyl Alcohol
Market Breakup by Source
- Fossil Fuels
- Sugar and Molasses
Market Breakup by Purity
- Denatured Alcohol
- Undenatured Alcohol
Market Breakup by Functionality
- Antimicrobial Activity
- Fragrant and Flavouring Agents
- Flammability and Volatility
Market Breakup by Process
- Fermentation Method
- Synthetic Method
Market Breakup by Application
- Personal Care
- Chemical Intermediates
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global industrial alcohol companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Archer Daniels Midland Company
- POET, LLC.
- Green Plains Inc.
- The Andersons Inc.
- Grain Millers, Inc.
- Greenfield Global Inc.
- Grain Processing Corporation
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