Ethyl Alcohol And Other Basic Organic Chemical Market Segments, Key Players, Revenue And Forecast By 2033

The ethyl alcohol market size has grown strongly in recent years. It will grow from $561.68 billion in 2023 to $601.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to alcoholic beverages, pharmaceuticals and healthcare, industrial and chemical manufacturing, personal care and cosmetics.

The ethyl alcohol market size is expected to see strong growth in the next few years. It will grow to $785.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to renewable energy and biofuels, pharmaceutical and healthcare growth, chemical manufacturing innovation, sustainable packaging. Major trends in the forecast period include bio-based ethyl alcohol, advanced pharmaceutical formulations, circular economy initiatives, digital transformation in ethyl alcohol production.

Market Overview -
Ethyl alcohol, also known as ethanol or grain alcohol, is a volatile, flammable, colorless liquid industrially used as a chemical intermediate to make pharmaceutical ingredients or as a solvent. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages and as a gasoline additive in the automotive industry.

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Surging Demand For Ethanol In Food Processing Industry Propels Growth Of Ethyl Alcohol Market
Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages as an adjunct. The food processing industry is growing significantly due to increased demand for ready-to-eat, frozen, and packaged foods. As a result, the demand from the food processing industry has also increased due to the growing population through new births and migrations, which further increases the industry's production and demand for ethanol. The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow to $7.38 billion by 2024 at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in the food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market.

Competitive Landscape -
Major companies operating in the ethyl alcohol market include Advanced Bioenergy LLC, Andersons Ethanol Group, Archer Daniels Midland Company, Braskem SA, BP plc, Cargill Corporation, Green Plains Inc., Kirin Holding Company Limited, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, Alto Ingredients Inc., Saudi Arabia's Basic Industries Corporation, Sasol Limited, Solvay Group, Valero Energy Corporation, INEOS Group Holdings SA, Merck Millipore, Midwest Renewable Energy LLC, ChemCeed LLC, Vigon International, an Azelis Company, CJ Chemicals LLC, Maxill Inc., Barentz BV, SAE International, Exxon Mobil Corporation, Vinmar International Ltd., Ethanol US LLC, Aemetis Inc., Greenfield Global Inc., ECSA Chemicals SA, Penta Manufacturing Company, Sigma-Aldrich Co. LLC, Spectrum Chemical Manufacturing Corp., Alfa Aesar, Fisher Scientific International Inc.

Ethanol Production From Corn And Sugar To Combat Global Warming And Meet Transportation Fuel Demands
Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by the dry milling process. In this process, corn kernels are ground into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, the global rising demand for oil, and the negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline. The US Department of Agriculture (USDA) predicts that during the 2020-21 crop season, 5.2 billion hectares of corn will go to ethanol generation, an increase of 250 million. Additionally, the U.S. and Brazil produce 85% of the global ethanol from corn. The production of ethanol from corn helps to reduce greenhouse gases by 18%, and the production of ethanol from sugar helps to reduce greenhouse gases by 90%. Production of ethanol from corn and sugar offers several advantages, such as reducing greenhouse gases and decreasing dependency on foreign oil.

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Key Segments -
The ethyl alcohol market covered in this report is segmented -
1) By Type: Synthetic, Fermented
2) By Application: Industrial Solvent, Fuel/Fuel Additive, Bacteriacide/Disinfectant, Beverages, Personal Care, Other Applications
3) By End User Industry: Automotive, Food and Beverages, Pharmaceutical, Personal Care, Other End Use Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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