Industrial Alcohol Market in US$ 194.7 Billion Valuation by 2032 with a Steady Growth Rate of 7.6%

The global industrial alcohol market is expected to witness growth at a CAGR of 7.6% in the forecast period (2022-2032) and is likely to be valued at US$ 194.7 Bn by 2032.

Alcohol-based sanitizers are used to disinfect machinery and equipment in a variety of industries and are thought to be powerful cleaning agents. The need for sanitizers among consumers will likely increase, which will support expansion in the worldwide industrial alcohol market.

Growth is predicted to be driven by the growing use of alcohol-based disinfectants in the healthcare industry to clean medical devices due to their high effectiveness in eliminating a variety of pathogens. They are also easy to use and non-toxic, making them perfect for usage in medical settings.

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One of the most popular applications for alcohol-based disinfectants in the healthcare industry is the cleaning of endoscopes. Another essential use of industrial alcohol is to clean and disinfect respiratory therapy equipment that is regularly contaminated with different germs. Disinfectants made of alcohol can be used to destroy germs and stop the spread of illnesses.

-Key Takeaways: Industrial Alcohol Market

-The industrial alcohol market is expected to expand at a CAGR of 7.6% over the forecast period.
-By source, the corn segment is set to dominate the market by holding around 30.2% of share and is expected to grow at a CAGR of 4.2% over the forecast period.
-Based on product type, the ethyl alcohol segment is likely to lead the industrial alcohol market by holding more than 31.2% of share in 2022.
-In terms of application, the transportation fuel & fuel additives segment is anticipated to generate 26.7% of share in 2022.
-The U.S. industrial alcohol market currently holds more than 75.7% of share in North America.
"Increasing adoption of bioethanol as a transportation fuel across the globe to reduce emissions of carbon dioxide in the atmosphere and promote sustainability is likely to drive the global industrial alcohol market," says a Future Market Insights analyst.

Competitive Landscape: Industrial Alcohol Market

Key manufacturers in the global industrial alcohol market are mainly focusing on research & development activities in order to come up with innovative and unique product offerings. In addition to that, key players are focusing on mergers, acquisitions, and joint ventures to expand their geographic presence, as well as their existing production capacities.

In July 2020, Green Plains Wood River LLC, a Green Plains Inc. subsidiary, announced the installation of a separate 25-million-gallon facility to produce Food Chemicals Codex (FCC) grade alcohol for export and domestic markets. It has plans to expand the production process to manufacture United States Pharmacopeia (USP) grade alcohol within the next few months.
Key Companies Profiled in Industrial Alcohol Market are Cargill Inc., Archer-Daniels-Midland Company, Green Plains Inc., Grain Millers Inc., Willmar Group, MGP Ingredients, Inc., Cristalco, Royal Dutch Shell Plc, Raizen Energia, GREENFIELD SPECIALTY ALCOHOLS

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More Valuable Insights on the Industrial Alcohol Market

Future Market Insights, in its new report, offers an impartial analysis of the global industrial alcohol market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on source (bagasse & sugarcane, molasses, grains, corn, fossil fuels, others), product type (ethyl alcohol, isopropyl alcohol, isobutyl alcohol, methyl alcohol, others), (pharmaceutical, transportation fuel & fuel additives, chemical intermediates, food ingredient, personal care, detergent & cleaning chemicals, others), and processing method (fermentation, synthetic) across seven major regions of the world.

-Industrial Alcohol Market Outlook by Category

-By Source:
Bagasse & Sugarcane
Molasses
Grains
Corn
Fossil Fuels
Others

-By Product Type:
Ethyl Alcohol
Isopropyl Alcohol
Isobutyl Alcohol
Methyl Alcohol
Others

-By Application:
Pharmaceutical
Transportation Fuel & Fuel Additives
Chemical Intermediates
Food Ingredient
Personal Care
Detergent & Cleaning Chemicals
Others

-By Processing Method:
Fermentation
Synthetic

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.