“The industrial alcohol market projected to grow at a CAGR of 9.8% during the forecast period”
The industrial alcohol market is projected to grow at a CAGR of 9.8% from 2017, to reach USD 180.83 billion by 2022. The demand for industrial alcohol is projected to be on the rise, owing to factors such as the increase in demand for petrochemicals, commercialization of alternative fuels such as bioethanol and bio-butanol, and growth in several applications such as cosmetics, pharmaceuticals, and paints & coatings, due to their multi-functionality. Growth in consumer awareness regarding utilization of low carbon alternate fuels, coupled with governmental mandates for the blending of biofuels in gasoline and diesel in several countries, is fueling the increase in demand for industrial alcohol in the biofuel industry. The fluctuations in prices of raw materials are the major restraints for the industrial alcohol market.
“Fuel segment is projected to be the fastest-growing in the industrial alcohol market”
In terms of value, the fuel segment, by application, is projected to grow at the highest rate between 2017 and 2022. Due to functional properties such as high octane number and flammability characteristics, ethyl alcohol, methyl alcohol, and isobutyl alcohol are widely used in the fuel and energy sector. The support extended by the government of individual countries for the development of biofuels in the energy sector and the growth in agricultural land availability for bioethanol production have fueled the growth of this market.
“Asia-Pacific is estimated to be the fastest-growing region in the market.”
In the global industrial alcohol market, Asia-Pacific is estimated to be the fastest-growing region, in terms of value and volume, between 2017 and 2022. This region comprises developing economies such as China, India, and Thailand whose market of industrial alcohol has been increasing annually over the last five years. It is also the largest producer of all types of industrial alcohol except ethyl alcohol.
The increasing adoption of alcohol in applications such as cosmetics, pharmaceuticals, chemical intermediates and solvents, rapid growth in demand for personal care products, availability of feedstocks such as sugar, natural gas, coal in countries such as India and China, clubbed with the increase in the number of production facilities is expected to drive the industrial alcohol market in the biofuel and chemical industries. The industrial alcohol market in India, in terms of volume, is projected to grow at the highest rate among the Asia-Pacific countries.
Break-up of primaries:
- By Company Type: Tier 1 – 29 %, Tier 2 – 21%, and Tier 3 – 50%
- By Designation: C level – 23%, Director level – 45%, and Others – 32%
- By Region: North America – 19%, Europe – 17%, Asia-Pacific – 48%, and RoW – 16%
The global market for industrial alcohol is dominated by large players such as Green Plains Inc. (U.S.), Cargill (U.S.), MGP Ingredients (U.S.), Cristalco (France), The Andersons Inc. (U.S.), Sigma Aldrich (U.S.), Grain Processing Corporation (U.S.), Greenfield Specialty Alcohols (Canada), and Flint Hills Resources (U.S.).
The industrial alcohol market has been segmented on the basis of type, source, application, and region. In terms of insights, this research report has focused on various levels of analyses?industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global industrial alcohol market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get an overview of the global industrial alcohol market
- To get an overview of the key players of the industrial alcohol industry and key strategies adopted by key players to attain market presence
- To gain insights of the major regions in which the industrial alcohol market is growing
- To gain knowledge of the growth of various industrial alcohols