The Global Industrial Alcohol Market is projected to reach a value of over USD 276.4 billion by 2027 at a CAGR of around 9.2%.
Industrial alcohol is distilled ethyl alcohol of high pure form. It is a volatile, colorless, and flammable liquid mostly used into biofuel. It is majorly obtained from molasses, fossil fuel, grains and others. It is used in an array of applications including biofuel, pharmaceuticals, and personal care. Ethyl alcohol can be used in a gasoline engine as a blending fuel for gasoline.
Market Driver:
Bioethanol is a type of fuel that produced by using biological sources, having advantages over conventional fuels, owing to its biological origin and renewability. Bioethanol is a clean fuel as results, it is rapidly being used as an auto fuel by the transportation sector. Numerous laws and regulations exist globally, encouraging the use of bioethanol, such as European Union Renewable Energy Directive (EU RED) and Renewable Fuel Standard (RFS) by EPA (Environmental Protection Agency). As the transportation industry increases the demand for bioethanol increases, due to biofuel mandates by regulatory bodies, rise in concerns regarding the surge in pollution & emission of greenhouse gases, and abundant raw material availability. Thus the increasing demand for bioethanol is expected to boost the global industrial alcohol market.
Market Restraint:
Several materials such as molasses, corn, grains, fossil fuel others can be used for the manufacturing of valves. Though molasses and grains are widely available, they together cannot fulfil the global demand for industrial alcohol. Thus, volatility in the prices of fossil fuel is a major factor likely to hamper the market growth during the assessment period. The price fluctuations are attributed to the mining and extraction of the raw materials, which are dependent on geological and geopolitical factors. Additionally, naturally available raw material, which adds up the cost on account of the supply-demand gap which is further likely to hamper the market growth up to a certain extent.
The report on the Industrial Alcohol market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) and Volume (Kiloton) |
Segments Included |
Type, Source, Processing Method, Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Industrial Alcohol Market, by Type
Industrial Alcohol Market, by Source
Industrial Alcohol Market, by Processing Method
Industrial Alcohol Market, by Application
Industrial Alcohol Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INDUSTRIAL ALCOHOL MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY