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growing need for oil & gas, & rising personal care & beauty product industries are key factors to drive revenue growth of the market

NEW YORK CITY, U.S., UNITED STATES, June 29, 2023/EINPresswire.com/ -- The forecast period is expected to witness a stable revenue CAGR in the global Ethyl Alcohol Market . The growth in revenue of the ethyl alcohol market is primarily attributed to factors such as increasing demand for alcoholic beverages, disinfectant products, and fuel additives.

Ethyl alcohol, also known as alcohol, ethanol, and grain alcohol, is a clear, colorless liquid used in the production of alcoholic beverages like beer, wine, and brandy. It is a naturally occurring byproduct of plant fermentation and can be obtained by hydrating ethylene. Due to its excellent solubility in water and organic compounds, it finds application in various products, including personal care items, varnishes, and gasoline.

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Ethyl Alcohol Market Segments:

The global ethyl alcohol market can be categorized based on type and application/end-use. In terms of type, the market is segmented into food grade, industrial grade, pharmaceutical grade, and other types. The revenue generated by each segment is projected to be measured in USD billions from 2019 to 2030.

When it comes to applications and end-uses, the ethyl alcohol market encompasses various sectors. The major segments include food and beverage, pharmaceuticals, energy, and other applications. The revenue generated by each segment is expected to be measured in USD billions from 2019 to 2030.

These segments provide a comprehensive overview of the global ethyl alcohol market, enabling a better understanding of its composition and potential growth opportunities. By analyzing the revenue generated by different types and application/end-use sectors, stakeholders can make informed decisions and formulate strategies to capitalize on the market's growth potential.

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Ethyl Alcohol Market Strategic Developments:

In July 2022, Fulcrum BioEnergy Inc. announced the completion of its investment of USD 20 million by SK Innovation, which is a South Korean company. The aim is to explore newer types of biofuels and improve existing ones including stabilizing ethanol.

Ethyl Alcohol Market Competitive landscape:

The ethyl alcohol market is home to several major companies that play a significant role in shaping the industry. These companies are at the forefront of producing and supplying ethyl alcohol globally. Here are some of the prominent companies operating in the ethyl alcohol market:

Archer Daniels Midland Inc. (U.S.): With a strong presence in the agriculture sector, Archer Daniels Midland Inc. is a leading player in the ethyl alcohol market. The company is involved in the production and distribution of a wide range of agricultural products, including ethyl alcohol.

LyondellBasell Industries N.V. (U.S.): LyondellBasell Industries is a multinational chemical company that operates across various industries, including the production of ethyl alcohol. The company focuses on developing innovative solutions and technologies to meet the growing demand for ethyl alcohol.

British Petroleum PLC (U.K.): British Petroleum, commonly known as BP, is a global energy company that is actively involved in the production and distribution of ethyl alcohol. The company has a diverse portfolio of products and services and has made significant contributions to the ethyl alcohol market.

Saudi Basic Industries Corporation (Saudi Arabia): Saudi Basic Industries Corporation, also known as SABIC, is a leading petrochemical company based in Saudi Arabia. The company is involved in the production of a wide range of chemicals, including ethyl alcohol, and has a strong presence in the global market.

INEOS Group (U.K.): INEOS Group is one of the world's largest chemical companies, with operations spanning across various sectors, including ethyl alcohol production. The company focuses on delivering high-quality products and has established itself as a key player in the ethyl alcohol market.

Valero Energy Co. (U.S.): Valero Energy Co. is a multinational energy corporation that operates in the production, refining, and distribution of petroleum products, including ethyl alcohol. The company has a significant presence in the ethyl alcohol market and contributes to its growth.

Fulcrum BioEnergy Inc. (U.S.): Fulcrum BioEnergy Inc. is a renewable energy company that specializes in converting waste into low-carbon transportation fuels, including ethyl alcohol. The company is committed to sustainable practices and contributes to the development of the ethyl alcohol market.

Andersons Ethanol Group Inc. (U.S.): Andersons Ethanol Group Inc. is actively engaged in the production and marketing of ethanol, including ethyl alcohol. The company operates ethanol plants and focuses on providing environmentally friendly fuel options.

These companies, among others, are key players in the ethyl alcohol market, driving innovation, meeting demand, and shaping the industry's growth trajectory. Their contributions play a vital role in meeting the needs of various sectors, including food and beverage, pharmaceuticals, and energy.

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