Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Industrial alcohol is distilled ethyl alcohol (C2H5OH), usually of high proof, produced and sold for other than beverage purposes. It is generally distributed in the form of pure ethyl alcohol, totally denatured alcohol, specially denatured alcohol and proprietary solvent blends. Pure ethyl alcohol is utilized in laboratories and in industry for its sanitizing, cleaning and solvent properties. Furthermore, 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. There are literally hundreds of products and uses for this chemical.
Increasing use of alcohol in sanitizers due to corona pandemic and increase in demand for bioethanol are some of the major factors driving the industrial alcohol market. Furthermore, introduction of greener ethyl alcohol sources is also the one of the factor driving the industrial alcohol market. However, fluctuating prices of raw material is one of the major factors hampering growth of the industrial alcohol market globally.
Geographically, the market is segmented into Asia-Pacific, North America, Europe and RoW. the Europe accounted for the largest market in global industrial alcohol market. The Asia Pacific is prophesized to come up as a rapidly growing region in the market. The availability of feedstock such as corn coupled with increasing consumer consciousness about carbon emissions and environmental conservation are anticipated to propel the expansion of the Asia Pacific industrial alcohol market.
The type studied in the market are ethyl alcohol, methyl alcohol, isopropyl alcohol, isobutyl alcohol, benzyl alcohol and others. The ethyl alcohol is largely used in various applications. The major factors driving the growth of the segment are the rising demand for ethanol as biofuel, growing to use in beer production and food processing, and stringent government policies to restrict the usage of fossil fuels
The source comprises of sugar & molasses, corn, grains (excl. corn), fossil fuels and others. Owing to the growing demand from the fuel and food industries, the sugar & molasses segment is anticipated to hold the largest market share during the review period
Various applications of the market are fuel, chemical intermediates & solvent, pharmaceuticals, personal care products, food ingredients and others. In recent times industrial alcohol has been extensively used in the pharmaceuticals owing to its anti-microbial property. Likewise, there is a growing demand in biofuel on account of the need to preserve environment and growing awareness regarding the same.
The key companies in the industrial alcohol market are Advanced Bioenergy LLC, Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, Cargill, Cristalco, Flint Hills Resources, Grain Processing Corporation, Green Plains Inc., Greenfield Specialty Alcohols, INEOS, Kirin Holding Company, MGP Ingredients, Raízen Energia, SABIC, Sasol Limited, Sigma Aldrich, Solvay Group, The Andersons Inc. and Valero. Players are also exploring other regions through acquisitions and various forms of partnerships as their market strategy for geographical expansion.
The report analyses the Global Industrial Alcohol Market based on Type, Source, Application and Geography. The type studied in the market are ethyl alcohol, methyl alcohol, isopropyl alcohol, isobutyl alcohol, benzyl alcohol and others. The source comprises of sugar & molasses, corn, grains (excl. corn), fossil fuels and others. Various applications of the market are fuel, chemical intermediates & solvent, pharmaceuticals, personal care products, food ingredients and others.
Geographically, the market is segmented into Asia-Pacific, North America, Europe and RoW. the Europe accounted for the largest market in global industrial alcohol market. The Asia Pacific is prophesized to come up as a rapidly growing region in the market. The availability of feedstock such as corn coupled with increasing consumer consciousness about carbon emissions and environmental conservation are anticipated to propel the expansion of the Asia Pacific industrial alcohol market.
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