Market Overview
The high purity grade refined
ethyl alcohol used for other than manufacturing of liquor purposes. It is colorless,
volatile, and flammable and is commonly used as a biofuel. It is found in
various applications such as cosmetics, pharmaceuticals, and others. The
industrial alcohol can be produced by sugar & molasses, corn, grains,
fossil fuel, and others.
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The global industrial alcohol
market is segmented on the basis of its type as ethyl alcohol, methyl alcohol,
isopropyl alcohol, isobutyl alcohol, benzyl alcohol, and others. Among these,
the ethanol (grain alcohol) is the leading segment due to its wide application
in the blending of gasoline, which enhances the fuel efficiency and reduces
emission. Owing to its anti-bacterial properties, it is also used across the
pharmaceutical and personal care industry. The methanol is the second largest
segment and can be used as an antifreeze, solvent, rocket fuel, and as a
denaturant for ethanol. The chemical is also used to produce biodiesel via
transesterification reaction. The above-mentioned factors are expected to drive
the market growth during the review period further. However, the volatility in
the raw material prices and the approval from various regulatory bodies may
prove to be a challenging for the market growth in the coming years.
Competitive Analysis
Some of the manufacturers
operating in the global industrial alcohol market are Cargill, Incorporated
(U.S.), BASF SE (Germany), Raizen (Brazil), Exxon Mobil Corporation (U.S.),
Royal Dutch Shell plc (Netherlands), Eastman Chemical Company (U.S.),
Greenfield Global, Inc. (Canada), MGP (U.S.), Green Plains Inc. (U.S.), and
Cristalco (France).
Market Segmentation
The global industrial
alcohol market is segmented on the basis of the source, type,
application, and region.
On the basis of the source, the
market is segmented into sugar & molasses, corn, grains, fossil fuels, and
others.
Based on the type, the global
industrial alcohol market is segmented into ethyl alcohol, methyl alcohol,
isopropyl alcohol, isobutyl alcohol, benzyl alcohol, and others.
The application segment of the
global industrial alcohol market is further segmented into fuel,
pharmaceuticals, personal care products, food ingredients, chemical
intermediate & solvent, and others.
Regional Analysis
The global industrial alcohol
market is segmented into five regions of North America, Asia Pacific, Europe,
Latin America, and the Middle East & Africa.
North America is the leading
region in the global industrial alcohol market due to the high demand for high
octane fuel from aerospace and transportation sector in the region.
Asia Pacific is expected to grow
at a higher CAGR on account of the rising demand from growing chemical
industries in countries such as China and India.
Europe is projected to witness a
considerable growth in the global industrial alcohol market owing to the
growing demand from various industries such as automotive, pharmaceuticals,
chemicals, and others.
The untapped yet growing
industrial sectors such as automotive and chemicals in GCC countries may drive
the market growth during the assessment period.
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