San Francisco,5 October 2018: The global industrial alcohol market is expected to
reach USD 223.63 billion by 2025, according to a new report by Grand View
Research, Inc. Regulatory changes by distinct governments globally, mandating
the use of ethanol in gasoline blend as an alternative fuel accompanied by
rising demand for ethanol as octane level enhancer is driving the industrial
alcohol market.
In
terms of revenue, ethanol was estimated as the largest product in 2016 and the
trend is anticipated to continue at a growth rate of 9.5% over the forecast
period. Increasing need for fuel grade ethanol is driving its growth. On
account of rising global greenhouse gas emissions, the requirement for an
alternative to fossil fuels in transportation is gaining importance. Owing to
its lower emission properties, ethanol among the other biofuels is largely
preferred as a clean fuel in transportation. Besides fuel grade, ethanol is
also available in food grade variant and is used in many industrial,
pharmaceutical and food & beverage applications.
Industrial
alcohol can be derived from various sources such as corn, sugarcane molasses,
fossil fuels, and from grains. U.S. and Brazil dominated the ethyl alcohol
market in terms of both volume and value. Corn is the largest source of ethanol
in U.S. whereas sugarcane is the largest source in Brazil.
Methanol,
which is largely derived form syn-gas, is used in the chemical industry as an
anti-freeze, intermediate, denaturant for ethanol, fuel, and solvent for the
production of various chemicals. Besides ethyl alcohol and methyl alcohol,
others such as isopropyl alcohol and isobutyl alcohol, are witnessing increased
applications in various end use industries.
However,
the prices of industrial alcohols are fluctuating owing to the production
disequilibrium in the raw materials such as sugar, natural gas and crop based
starches such as corn and bagasse
Access
Research Report of Industrial Alcohol
Market @ www.grandviewresearch.com/industry-analysis/industrial-alcohol-market
Further key findings
from the report suggest:
· Asia
Pacific is expected to witness the fastest growth, in terms of value, at a CAGR
of 9.7% from 2017 to 2025 as large number of automobile manufacturers are
manufacturing flexible vehicles that can adopt to gasoline and ethanol blended
fuel.
· Ethanol
emerged as the largest product, in terms of revenue, in 2016 and is estimated
to be valued at USD 99.04 billion by 2025. In terms of revenue, industrial
alcohol applications in personal care and as fuel is expected to register the
fastest growth over the forecast period.
· Methanol
was estimated as the largest industrial alcohol consumed in China due to its
broad applications in industrial, cosmetic, and pharmaceutical industries.
Owing to the growing chemical industries in Asia Pacific region, the demand for
methanol is expected to propel over the forecast period.
· The
U.S. industrial alcohol market, in terms of revenue, was valued at USD 28,166.3
million in 2016 and is estimated to reach USD 57,975.2 million by 2025. The
U.S. is the largest producer and exporter of ethanol.
· Key
players including Royal Dutch Shell Plc, BASF SE, Eastman Chemical Company have
made their presence in the market where as manufacturers such as Greenfield
Global, Grain Millers, Inc. and Cargill Inc. have a prominent presence in the
global market.
Browse more
reports of this category by Grand View Research at: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand
View Research has segmented the global industrial alcohol market on the basis
of product, source, application, and region.
Industrial Alcohol Product Outlook (Volume,
Million Tons; Revenue, USD Million; 2014 - 2025)
·
Ethyl
Alcohol
·
Methyl
Alcohol
·
Isopropyl
Alcohol
·
Isobutyl
Alcohol
·
Others
Industrial Alcohol Source Outlook (Volume,
Million Tons; Revenue, USD Million; 2014 - 2025)
·
Grains
·
Sugar
& molasses
·
Corn
·
Fossil
fuels
·
Others
Industrial Alcohol End Use Outlook (Volume,
Million Tons; Revenue, USD Million; 2014 - 2025)
·
Food
ingredients
·
Fuel
·
Chemicals
·
Pharmaceuticals
·
Personal
care
·
Others
Industrial Alcohol Regional Outlook
(Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
·
North
America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
·
Asia
Pacific
o China
o India
o Japan
·
Central
& South America
o Brazil
·
Middle
East & Africa
o
UAE
Access Press Release of Industrial Alcohol
Market@ www.grandviewresearch.com/press-release/global-industrial-alcohol-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business decisions, we
offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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