According to the current analysis of Reports and Data, the global Industrial Alcohol Market was valued at USD 93.25 Billion in 2020 and is expected to reach USD 123.64 Billion by the year 2028, at a CAGR of 9.3%. Rising demand for organic solvents due to dynamic properties, including high octane number and flammability characteristics, will lead to an increase in demand for industrial alcohol in the transportation sector. It is a cleaner-burning fuel that is combined with gasoline and diesel fuels to decrease fuel consumption and emissions.
Various Medicines, food products, additives, and cosmetics are produced with industrial alcohol. It is used to prepare vaccines, compound tonics, syrups, tinctures, ointments, and antiseptics as well as being vital in the production of pharmaceuticals such as chloroform, atabrine, and barbiturates. It is applied in the production of adhesives, cosmetics and others.
The global industrial alcohol market is divided by application, source, and geography. Based on type, it is classified into isopropyl alcohol, methyl alcohol, ethyl alcohol, isobutyl alcohol, benzyl alcohol, and others (pentanol and methyl-1-butanol). Based on the source, it is categorized into molasses, sugar, grains, fossil fuels, and others (whey and grapes). By application, it is segmented into fuel, chemical intermediates & solvent, pharmaceuticals, personal care products, food ingredients, and others (adhesives and coatings). Based on the processing method, it is segmented into fermentation and synthetic. Geographically, it is segmented across North America, Europe, Asia-Pacific, and others.
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Some of the key market players are Cargill (US), Raizen Energia (Brazil), Green Plains Inc. (US), Cristalco (France), MGP Ingredients (US), The Andersons Inc. (US), Sigma Aldrich (US), Grain Processing Corporation (US), Greenfield Specialty Alcohols (Canada), and Flint Hills Resources (US)
Further key findings from the report suggest:
- Isopropyl alcohol finds use among physicians, who rub the poisonous substance onto surfaces, tools and human bodies for its cooling and disinfecting properties. Isopropyl alcohol also is found in cosmetics, including lotions
- Methyl alcohol primarily finds use as an industrial solvent. For example, paint remover and photocopier developers make use of it
- Ethanol is a common ingredient in many cosmetics and beauty products. It acts as an astringent to help clean skin, in lotions as a preservative and to help ensure that lotion ingredients do not separate, and in hairsprays to help the spray adhere to hair
- More than 97 percent of U.S. and other developed countries produce gasoline which contains ethanol, typically in a mixture called E10, made up of 10 percent ethanol and 90 percent gasoline, to oxygenate the fuel and reduce air pollution
- Asia-Pacific regional segment of the Industrial Alcohol market is expected to remain highest growing segment during 2020-2028, at a CAGR of 10.8%, owing to increasing demand for healthy food and health consciousness in the region
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Segments covered in the report:
On the basis of type, the industrial alcohol market has been segmented as follows:
- Ethyl alcohol
- Methyl alcohol
- Isopropyl alcohol
- Isobutyl alcohol
- Isobutyl alcohol
- Others (sorbitol and maltitol)
On the basis of application, the industrial alcohol market has been segmented as follows:
- Personal care products
- Food ingredients (excluding beverages)
- Chemical intermediates & solvents
- Others (home care products and reagents)
On the basis of source, the industrial alcohol market has been segmented as follows:
- Sugar & molasses
- Grains (excluding corn)
- Fossil fuels
- Others (whey, cellulosic materials, and algae)
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Regional Outlook (Revenue, USD Million; 2020-2028, and Volume Metric Tons-2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Rest of Latin America
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Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Industrial Alcohol market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
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