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2028 Global Industrial Alcohol Market Development Status, Competition Analysis, Type and Application

2021 - 2028 Global Industrial Alcohol Market

2021 - 2028 Global Industrial Alcohol Market

HYDERABAD, TELANGANA, INDIA, March 8, 2022 / -- Industrial Alcohol Market Forecasts to 2028 – Global Analysis By Process Technology (Fermentation, Synthetic), Type (Benzyl, Ethyl, Isobutyl), Application (Chemical Intermediates & Solvents, Pharmaceuticals) and By Geography

The Global Industrial Alcohol Market is accounted for $96.75 billion in 2021 and is expected to reach $142.62 billion by 2028 growing at a CAGR of 5.7% during the forecast period. Industrial alcohols act as a reagent as well as a solvent in various industrial applications in the pharmaceuticals, personal care, energy sector, and chemical industries. These alcohols are used in applications other than beverages. These fuels are produced by the fermentation of sugars derived from wheat, corn, sugar beets, sugar cane, and molasses. Furthermore, it is used in petrol engines as an alternative to gasoline. In addition, alcohols such as methanol, benzyl alcohol, and isopropyl alcohol are also used in the production of food products, flavourings, cosmetics, and adhesives. The fossil fuels segment is projected to hold the largest share in the market, due to the need to reduce dependence on fossil oil as a direct source of fuel. Asia Pacific is projected to hold the largest market share due to the rising adoption of the product in the fuel and food industry and high consumption and production of methyl alcohol in China and ethanol in India.

Some of the key players profiled in the Industrial Alcohol Market include Archer Daniels Midland, Cargill, Cristalco, Dow Chemical Company, Eastman Chemical Company, EcoLab, Exxon Mobil Corporation, Flint Hills Resources, Grain Processing Corporation, Green Plains Inc, Greenfield Global Inc., Lindeplc, LyondellBasell Industries, MGP Ingredients, Raizen Energia, Royal Dutch Shell Plc, Sigma-Aldrich, The Andersons Inc, Univar Solutions, and Wilmar International.

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