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Ethyl Alcohol And Other Basic Organic Chemicals Market to Grow to $525 billion in 2019

LONDON, GREATER LONDON, UNITED KINGDOM, November 25, 2016 / -- Ethyl alcohol and other basic organic chemicals are a broad class of substances containing carbon and its derivatives. Many of these chemicals contain hydrogen with or without oxygen, nitrogen, sulfur, phosphorus, and other elements. They exist in either carbon chain or a carbon ring form. Acetic acid, methanol, ethyl alcohol, formaldehyde, citric acid, aromatic polymers and other basic organic chemicals are part of this segment and find their applications in drugs, pesticides, plastics, cosmetics and other products.

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Demand for pine-derived chemicals is growing rapidly in most countries. Tall oil fatty acid (TOFA), tall oil rosin (TOR), gum rosin, sterols, and pitch are the various pine derived chemicals. Pine-derived chemicals help companies to reduce carbon and avoid use of fossil fuels. They are used in printing inks, adhesives, paints, coatings, paper making additives, chewing gum, and food additive to reduce cholesterol. The pine-derived chemicals market is projected to reach $4.8 billion by 2020, at a CAGR of around 4.7 % from 2015 to 2020.

The ethyl alcohol and other basic organic chemicals industry comprises establishments primarily engaged in manufacturing basic organic chemicals except petrochemicals, industrial gases and synthetic dyes and pigments.

According to The Business Research Company’s Chemical Consultant, Yogesh Bathula, the extended mandatory use of ethanol in emerging markets is one of the main drivers of the market. China’s ethanol demand is projected at 2.3 million tonnes and is projected to grow exponentially if the 10% ethanol fuel content mandate currently applied in some provinces is extended nationally.

The Business Research Company expects the ethyl alcohol and other basic organic chemicals market to grow to $525 billion in 2019. Asia was the largest geographic market in the ethyl alcohol and other basic organic chemicals market in 2015, accounting for $187 billion or 44.2% of the global market.
The figure below shows the year-on-year growth of the global Ethyl Alcohol and Other Basic Organic Chemicals market during 2015–2019.

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