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Industrial Alcohol Market Detailed Analysis, Statistics and Forecast to 2025

09-02-2022 08:43 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Markets and Markets

The industrial alcohol market is estimated to be valued at USD 93.4 billion in 2020 and is projected to reach USD 112.0 billion by 2025, at a CAGR of 3.7% during the forecast period. The industrial alcohol market has been growing in accordance with the growing demand for petrochemicals, commercialization of alternative fuels. Due to their multi-functionality, industrial alcohols also find innumerable applications in cosmetics, pharmaceutical, and paints & coatings. Moreover, growing consumer awareness for low carbon alternate fuels and supporting government mandates will drive the demand for industrial alcohol in the biofuel industry.

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Market Dynamics:

Drivers: Increase in the use of alcohol in a wide spectrum of applications

Alcohols have been used in beverage and medical applications for decades. However, as technology developed, alcohol has found use in a wide range of applications. Among the various alcohols available commercially, ethyl alcohol is the most used and widely accepted industrial alcohol, globally. Currently, most of the ethyl alcohol produced goes into the fuel sector to be used as biofuel. Though ethyl alcohol is a commercialized biofuel used across the world, studies on the development of bio-butanol have also gained importance and are gradually paving the way toward commercialization.

Sectors other than biofuel where alcohols find applications are food, pharmaceuticals, home & personal care products, chemical industries, research laboratories, paints, inks, adhesives & coatings, and insecticides. Though ethyl alcohol is the main alcohol used in these industries, methyl alcohol, sorbitol, maltitol, benzyl alcohol, and isopropyl alcohol are also used in some applications. Ethyl alcohol, due to its properties of solubility, insect repellency, antimicrobial nature, preservation, and antifreezing properties, finds applications in all the above sectors.

Restraints: Fluctuating prices of raw material

Industrial alcohol is inelastic in terms of price demand. This means that the scarcity of the product causes a major increase in prices and vice versa. The alcohol industry is heavily dependent on raw materials such as sugar, corn, and wheat. The raw material prices depend on various factors such as cultivation yield, climatic conditions, and the quality of crops.

Additionally, the main crops used in ethyl alcohol production-sugarcane, corn, and wheat-are sensitive to adverse climatic conditions. Environmental deterioration has a direct effect on cultivation. All these factors result in volatility in the prices of these raw materials.

Opportunities: Emerging markets: new growth frontiers

The changing lifestyles, growing economy, and shift toward renewable resource utilization in developing economies have led to an increasing demand for alcohol in fuel and other applications. Developing countries, namely China, India, and countries in the Middle East & Africa, in the coming years, are expected to experience a strong upsurge in demand for alcohol such as ethyl alcohol and isobutyl alcohol. This demand is expected to be driven by an increase in the consumption of alcohol in various sectors and the growing trend of greener technology in the energy sector. In addition, these regions also provide a cost advantage in terms of production, labor cost, and processing. High demand, coupled with a low cost of production, is a key feature that is expected to aid alcohol suppliers.

Challenges: Approval from various regulatory bodies

According to European Union regulations, a firm must imply administrative regulations such as pre-market approval, especially in the case of alcohols being used in the food, pharmaceutical, and personal care sectors. The compliance burden is also an influencing factor, in which a company must cope with the changing regulations related to environment protection, pricing policy, immigration reform, and infrastructure improvements, among others. Firms that are not able to comply with these new and changing requirements may have to deal with the exit from the market.

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Asia Pacific has been the fastest-growing region that witnesses high ethanol consumption in the world. This is due to the increased emphasis on reducing GHG emissions globally and the low consumption of oil in the region. The regional market is further projected to witness high growth during the forecast period due to the increased demand from China and India. On the other hand, the growth of the industrial alcohol market in Europe is due to the emission targets set by the EU.

Key players in this market include Cargill (US), Raizen Energia (Brazil), Sigma-Aldrich (US), Univar Solutions (US), and MGP Ingredients (US). Other players include Green Plains Inc. (US), Cristalco (France), The Andersons Inc. (US), Grain Processing Corporation (US), Greenfield Global Inc., etc.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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