Ethyl Alcohol Global Market Report 2024 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Ethyl Alcohol Global Market Report 2024 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, January 16, 2024 /EINPresswire.com/ -- The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.

The ethyl alcohol market has witnessed robust expansion, surging from $561.68 billion in 2023 to an estimated $601.2 billion in 2024, showcasing a noteworthy compound annual growth rate (CAGR) of 7.0%. Forecasts indicate continued strong growth, with the market projected to reach $785.5 billion by 2028, driven by a 6.9% CAGR. This upward trajectory is underpinned by various factors, with a notable impact from the surging demand in key industries.

Surging Demand For Ethanol In Food Processing Industry

The growth of the ethyl alcohol market is significantly propelled by the rising demand for ethanol in the food processing industry. Ethanol serves as a crucial ingredient in the production of both alcoholic and non-alcoholic beverages, such as vodka and gin. Additionally, its utilization as a natural product in non-alcoholic beverages contributes to its increasing demand. The flourishing food processing industry, driven by a surge in demand for ready-to-eat, frozen, and packaged foods, has heightened the need for ethanol. This demand, further accelerated by population growth, births, and migrations, is anticipated to lead to the global expansion of the ethyl alcohol market. For instance, India is expected to witness substantial growth in the ethanol market, reaching $7.38 billion by 2024, fueled by applications in food and beverages.

Surging Demand For Personal Care Products

The ethyl alcohol market is also witnessing substantial growth due to the increasing demand for personal care products. Ethyl alcohol, or ethanol, plays a versatile role in personal care items such as shampoos, conditioners, toothpaste, creams, cosmetics, and household products. The rise in consumer product sales, as reported by major companies like L'Oréal S.A., underscores the significance of ethyl alcohol in the personal care industry. With skincare product sales growing by 13% in 2020 in the United States and a consistent increase in online beauty product sales, the demand for ethyl alcohol is expected to remain robust.

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Ethanol Production From Corn And Sugar for Environmental Benefits

Companies in the ethyl alcohol market are increasingly focusing on producing ethanol from corn and sugar. This shift is driven by the rising demand for liquid fuels in the transportation sector, global demand for oil, and the imperative to combat global warming. Ethanol production from corn and sugar is touted for its environmental benefits, with the potential to reduce greenhouse gas emissions. The U.S. Department of Agriculture (USDA) predicts a significant increase in corn going into ethanol generation, highlighting the importance of corn-based ethanol in the industry. This move towards more sustainable ethanol production aligns with global efforts to reduce dependency on foreign oil and decrease greenhouse gas emissions.

Leading Ethyl Alcohol Companies Spearhead Sustainable Aviation Fuel Technology:

Major players in the ethyl alcohol market are at the forefront of innovation, particularly in sustainable aviation fuel technology. Sustainable Aviation Fuel (SAF) technology, based on ethanol, offers a more environmentally friendly alternative to traditional aviation fuels. This technology, exemplified by Lummus Technology LLC, plays a pivotal role in reducing greenhouse gas emissions in the aviation sector. The integration of ethanol into the production of sustainable aviation fuel demonstrates a commitment to environmentally sustainable practices.

Market Segmentation

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

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Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2024 from TBRC covers the following information:

Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ethyl alcohol and other basic organic chemical market size, ethyl alcohol and other basic organic chemical market drivers and trends, ethyl alcohol and other basic organic chemical market major players, ethyl alcohol and other basic organic chemical market competitors' revenues, ethyl alcohol and other basic organic chemical market positioning, and ethyl alcohol and other basic organic chemical market growth across geographies. The ethyl alcohol and other basic organic chemical market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the ethyl alcohol market report and tap into segments with the highest growth potential.

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