13th September 2019 – 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.
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.
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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.
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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