Press release
Ethyl Alcohol And Other Basic Organic Chemical Market Report 2024: Strategies And Recent Developments
Ethyl Alcohol And Other Basic Organic Chemical Market Share
The Business Research Company offers in-depth market insights through Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ethyl alcohol and other basic organic chemical market size has grown strongly in recent years. It will grow from $1303.83 billion in 2023 to $1421.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to industrialization, petrochemical industry growth, consumer product manufacturing, agricultural chemicals, energy sector demand.
The ethyl alcohol and other basic organic chemical market size is expected to see strong growth in the next few years. It will grow to $1970.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy and biofuels, environmental regulations, circular economy initiatives, the adoption of green chemistry principles, health and wellness trends. Major trends in the forecast period include biobased chemicals, specialty chemicals, sustainable packaging, carbon capture and utilization (ccu), personal care and cosmetics.
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Market Segmentation:
The main types of ethyl alcohol and other basic organic chemicals are synthetic sweeteners, plasticizers, ethyl alcohol, silicone (except resins), fatty acids, gum, and wood chemicals. Ethyl alcohol is a colorless, volatile, flammable liquid C2H5OH that is the intoxicating agent in liquors and is used as a solvent and in fuel. The grades are food grade, industrial grade, and cosmetics grade. The end-user industries are the chemical industry, coating and printing industry, electronics industry, food and pharmaceutical industry, and other end-user industries.
Major Driver - Rising Alcoholic Beverage Consumption Boosts The Boosts Ethyl Alcohol And Organic Chemicals Market
Increasing consumption of alcoholic beverages is expected to propel the growth of the ethyl alcohol and other basic organic chemicals market going forward. Alcoholic drinks are those appropriate for human consumption and have a volume alcohol content of 1% or higher. Ethyl alcohol (ethanol) is the primary alcohol found in alcoholic beverages, and it serves as the main psychoactive ingredient. Other basic organic chemicals, such as flavor compounds and sugars, contribute to the taste, aroma, and complexity of alcoholic beverages, enhancing their overall sensory experience. For instance, in 2021, according to the National Institute on Alcohol Abuse and Alcoholism, a US-based alcohol-related researcher, the U.S. ethanol consumption from all alcoholic beverages combined per person in 2021 was 2.51 gallons, up 2.9% from 2.44 gallons in 2020. Furthermore, according to the U.S. Census area, per capita alcohol consumption increased between 2020 and 2021 in the Northeast by 5.4%, the Midwest by 1.6%, the South by 3.4%, and the West by 2.3%. Therefore, the increasing consumption of alcoholic beverages will drive the market for ethyl alcohol and other basic organic chemicals.
Competitive Landscape:
Major companies operating in the ethyl alcohol and other basic organic chemical market include Archer-Daniels-Midland Company (ADM), Wacker Chemie AG, Celanese Corporation, Valero Energy Corp, Lanxess AG, Evonik Industries AG, Kao Corporation, The Clorox Co, Eastman Chemical Corporation, Atul Limited, HPCL Biofuels Limited, Advanced Bioenergy LLC, Aventine Renewable Energy, Andersons Ethanol Group, British Petroleum, Braskem, Cargill Corporation, Butamax Advanced Biofuels LLC, Green Plains Inc., Flint Hill Resources LP, LyondellBasell Industries NV, INspec Ethylene Oxide and Specialities (INEOS), Mitsubishi Chemical Corporation, Baden Aniline and Soda Factory ( BASF SE), DowDuPont Inc., PPG Industries Inc., Solvay SA, Huntsman Corporation, Ashland Global Holdings Inc.
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Top Trend - Automation And Instrumentation Boosting Efficiency In Chemical Manufacturing
Chemical companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters that help to improve operational efficiency in manufacturing facilities. For example, Siemens process instrumentation and gas analytics solutions increase productivity and efficiency during plant operations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ethyl Alcohol And Other Basic Organic Chemical Market Characteristics
3. Ethyl Alcohol And Other Basic Organic Chemical Market Trends And Strategies
4. Ethyl Alcohol And Other Basic Organic Chemical Market - Macro Economic Scenario
5. Ethyl Alcohol And Other Basic Organic Chemical Market Size And Growth
…..
27. Ethyl Alcohol And Other Basic Organic Chemical Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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