Industrial Alcohol Market is estimated at USD 95.6 billion in 2021. This value is forecasted to grow at a CAGR of 11.8% to reach USD 141.61 billion by 2026.

HYDERABAD, TELANGANA, INDIA, August 25, 2022 /EINPresswire.com/ -- Industrial Alcohol Market is estimated at USD 95.6 billion in 2021. This value is forecasted to grow at a CAGR of 11.8% to reach USD 141.61 billion by 2026.
Industrial Alcohol has distilled ethyl alcohol and it is used for vaccines, syrups, liniments, and compound toxics. Other uses are the petroleum industries.

Drivers:

The increasing consumer awareness for low carbon alternatives fuels the market. Also, the availability of advanced infrastructure and government initiatives and funding support the development of the industrial alcohol market.

On the other hand, owing to its multi-functionality and the growing applications in the pharmaceutical, cosmetics, and paints & coatings the market is expected to witness a significant share in the market.

Over the years, alcohol has been used in medical applications and beverages. However, due to advanced technology, alcohol has been found used in a wide range of applications as these factors are expected to create opportunities for market growth. Therefore, the industrial market is likely to provide opportunities in personal care products, food ingredients, pharmaceuticals and fuel-based applications, and chemical intermediaries.

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Growing demand for Bio-ethanol and organic servants:

The Y-O-Y growing demand for bio-ethanol and organic solvents is creating the demand for market growth. Ethanol is a primarily produced chemical and it consumes alcohol which is used as a bio-fuel globally.

Bioethanol is one of the most interesting biofuels due to its positive impact on the environment. Production of biofuels from renewable feedstocks has captured considerable scientific attention since they could be used to supply energy and alternative fuels.

Restraints:

The market growth is expected to be constrained owing to several factors such as the main crop used in ethyl alcohol production, wheat, sugar cane, and corn are sensitive to negative climatic conditions. In addition, the price and the hike for industrial alcohol are restricting the market growth.

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Segmentation analysis:

Industrial Alcohol Market - By Type:
• Ethyl
• Methyl
• Isopropyl
• Isobutyl
• Benzyl Alcohol

Based on the type: The Ethyl segment recorded the largest share of the market in 2021 and it is anticipated to grow significantly during the forecast period. The segment growth is driven by rising demand for biofuels and the increasing R&D on newer generations of biofuels.

Industrial Alcohol Market - By Source:
• Sugar & Molasses
• Corn
• Grains
• Fossil Fuels

Based on the Source: The Fossil Fuels segment is recorded as the largest share market in the industrial alcohol market in 2021 and it is anticipated to grow significantly during the forecast period. The segment is expected to be the increasing source of the manufacturing industrial alcohol and mainly increases the methyl alcohol and ethyl alcohol.

Industrial Alcohol Market - By Application:
• Personal Care
• Pharmaceutical
• Fuel
• Food
• Chemical

Based on the Application: The fuel sector is recorded as the largest share market in the industrial alcohol market in 2021 and it is anticipated to grow significantly during the forecast period. The sector has a demand for ethyl alcohol in the fuel industry on the other hand owing to its high octane number. The chemical intermediates have the highest growth in the market to owing the high alcohol usage.

Industrial Alcohol Market - By Purity:

• Denatured Alcohol
• Undenatured Alcohol

Based on the Purity: The undenatured segment is recorded as the largest share market in the industrial alcohol market in 2021 and it is anticipated to grow significantly during the forecast period. The undenatured alcohol is pure from the ethanol alcohol. It is safe for human consumption or concentration.

Industrial Alcohol Market - By Processing Method:

• Fermentation Method
• Synthetic Method

Based on the Processing: The fermentation process is recorded as the largest share market in the industrial alcohol market in 2021 and it is anticipated to grow significantly during the forecast period. The process is for cellular energy production. The cells are the most efficient these process occurs independently of oxygen.

Industrial Alcohol Market - By Functionality:

• Antimicrobial Activity
• Fragrant/Flavoring Agents
• Solubility
• Antifreeze
• Flammability & Volatility

Based on the Functionality: The solubility segment is recorded as the largest share market in the industrial alcohol market in 2021 and it is anticipated to grow significantly during the forecast period. The segment is the alcohol and they have the hydrogen bond with water in the solubility of alcohol in water.

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Regional analysis:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa

The Asia Pacific is the largest growing region in the industrial alcohol market and grow significantly during the forecast period. The Asia Pacific is the high availably of the countries like China, India, and Japan. China is the major share in the region for producers the ethanol supports and increases the population and demand for alcohol and the factors are supporting the growth of the market.

Latest Industry Developments:

In May 2020, Protector & Gamble and Cargill entered into a collaboration to bring nature-powered innovative technology to convert lactic acid into bio-based acrylic to manufacture more sustainable products. P&G granted Cargill an exclusive license, allowing Cargill to further develop and commercialize this technology, to ultimately be incorporated in a range of applications from superabsorbent polymers in absorbent hygiene products to thickeners in household paints and more.

In March 2020, MGP Ingredients acquired New Columbia Distilleries LLC. This acquisition improved the company’s hold in the US and allowed it to serve a larger consumer base for industrial alcohol.

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