Upcoming Growth Trends in the Industrial Alcohol Market

The report "Industrial Alcohol Market by Type (Ethyl, Methyl, Isopropyl, Isobutyl, Benzyl Alcohol), Source (Sugar & Molasses, Corn, Grains, Fossil Fuels), Application (Personal Care, Pharmaceutical, Fuel, Food, Chemical), and Region - Global Forecast to 2022", is projected to reach USD 180.83 Billion by 2022 in terms of value, at a CAGR of 9.8% from 2017 to 2022. Industrial alcohol is widely accepted either as a reagent or solvent in a wide number of applications, such as the pharmaceutical, personal care, energy sector, and chemical industries. Their multi-functionality increases its adoption in end-use applications. Also, the growing demand of biofuel and increase in demand for alcohol across varied sectors has expanded the application areas of industrial alcohol.

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Based on type, the industrial alcohol market has been segmented into ethyl alcohol, benzyl alcohol, isobutyl alcohol, isopropyl alcohol, methyl alcohol, and others. The ethyl alcohol segment is projected to dominate the market, owing to its increased usage as a biofuel or as an additive in commercial fuels. Ethyl alcohol is an excellent disinfectant, because of which, it is used in disinfectants and cleansing agents. The increased use of Industrial alcohol as a solvent in varied applications, coupled with its demand in the energy sector, is expected to drive the market.

Based on industrial application, the industrial alcohol market has been segmented into fuel, pharmaceuticals, food ingredients, personal care products, chemical intermediates and solvents, and other applications. Ethyl alcohol dominates this segment, owing to its high-octane number and ability to reduce emissions when blended with gasoline. It is being used as a preservative and an anti-microbial in the healthcare and pharmaceutical industries.

The sugar and molasses segment, by source, is projected to be the fastest-growing segment, due to the increasing demand from the fuel and food industries. On the other hand, petroleum-based alcohol has limited demand from the fuel industry. The alcohol produced using sugar and molasses is used as an ingredient in the personal care, pharmaceutical, and food industries.

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In 2017, the North American region is estimated to hold a significant share in the global industrial alcohol market, whereas Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Some factors that influence their share in the market include availability of feedstock such as corn, stringent regulations in the energy sector imposed by the government, increased consumer awareness on environment safety & carbon emissions, strong logistic facilities, and advanced technological developments. Development of ethanol from agricultural wastes and algae is one of the latest trends in the industrial alcohol industry of countries such as the U.S. and Canada. The Asia-Pacific market is driven by the growing demand for industrial alcohol in developing countries such as India, China, and Thailand.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill (U.S.), Raizen Energia (Brazil), Green Plains Inc. (U.S.), Cristalco (France), and MGP Ingredients (U.S.).

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