Industrial Alcohol Market Size, Trends, Share Analysis, And Outlook Report 2024 To 2033

"The Business Research Company recently released a comprehensive report on the Global Industrial Alcohol Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The industrial alcohol market size has grown rapidly in recent years. It will grow from $159.7 billion in 2023 to $178.72 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to increased ethanol fuel production, growth in pharmaceuticals and healthcare, growth beverage and food industry, rise in chemical manufacturing, increased use in cleaning and sanitization.

The industrial alcohol market size is expected to see rapid growth in the next few years. It will grow to $289.24 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to increasing renewable energy, rising demand hand sanitizers and disinfectants, rising demand for alcoholic beverages, increasing demand from personal care products, emphasis on sustainable chemicals. Major trends in the forecast period include ethanol for hand sanitizers, demand for ethanol as a fuel additive, distillation and purification technologies, industrial alcohol as solvent, food-grade alcohol production.

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Market Drivers and Trends:

The increasing demand for biofuels among end-users is significantly contributing to the growth of the industrial alcohol market going forward. Biofuel, such as ethanol, is a renewable energy source made from microbial, plant, or animal waste. It is an alcohol that is also used in gasoline as a blending ingredient to boost octane and reduce carbon monoxide and other smog-causing pollutants to minimize air pollution. In order to lower air pollution and energy costs, alternative fuels such as biodiesel and alcohol are being used in engine technology. For instance, according to the US Department of Energy, a US-based government department, in 2021, 98% of U.S. gasoline will contain ethanol (industrial alcohol), typically E10 (10% ethanol, 90% gasoline) to oxygenate the fuel, which reduces air pollution. Furthermore, in 2020, biodiesel was second to fuel ethanol as the most produced and consumed biofuel in the United States, and accounted for about 11% and 12% of total U.S. biofuel production and consumption, respectively. Therefore, increasing demand for biofuels among end-users is driving the demand for the growth of the industrial alcohol market.

Product advancements have emerged as the key trend gaining popularity in the industrial alcohol market. Major companies operating in the industrial alcohol sector are focused on developing technologically advanced products to strengthen their market position. For instance, in January 2021, DuPont Nutrition & Biosciences, a Denmark-based bio-based company, launched the SYNERXIA Gemstone Collection, the next advancement in high-performance yeasts for the ethanol market designed for the unique needs of ethanol producers. SYNERXIA SAPPHIRE is developed to give a high ethanol yield boost compared to standard yeast and power through fermentation. Additionally, the substance expresses enough glucoamylase to replace up to 80% of the glucoamylase added during fermentation. The potent glucoamylase is strongly expressed in yeast, which benefits many producers by reducing leftover starch.

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Major Key Players of the Market:

Cargill Incorporated, Cristalco SAS, Raizen Energia SA, MGP Ingredients Inc., Green plains Inc., Sigma-Aldrich, Grain Millers Inc., The Andersons Inc., BASF SE, Royal Dutch shell plc, Exxon mobil corporation, Univar Solutions, BIRLA SUGAR, Valero Energy Corporation, Flint Hills Resources, Roquette Freres SA, Jiangsu Lianhai Biological Technology Co. Ltd., Shell Chemicals, Cosan S.A., Celanese Corporation, Novozymes A/S, Solvay S.A., IG Petrochemicals, The Andersons Inc., Raízen Energia S.A., Aemetis Inc., Vantage Oleochemicals, Pannonia Bio, ACI Alloys Inc.

Industrial Alcohol Market 2024 Key Insights:

• The industrial alcohol market size is expected to see rapid growth in the next few years. It will grow to $289.24 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Growing End-User Demand For Biofuels Boosts Industrial Alcohol Market
• Product Advancements Drive Industrial Alcohol Market Growth
• North America was the largest region in the industrial alcohol market in 2023

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