Market intensive reports associated with the alcohol sector have been recently made accessible by Market Research Future and asserts that the Global Industrial Alcohol Market is set to stake exponential revenue by 2023 at a higher CAGR. Industrial Alcohol is considered as a distilled ethyl alcohol of high purity and is produced for an array of applications such as biofuel, pharmaceuticals, and personal care. The primary source of its production is through the corn, sugar, molasses, fossil fuels, and others.
Key Market Players:
Some of the critical players effective in the Global Industrial Alcohol Market are Cargill, Incorporated (U.S.), BASF SE (Germany), Raizen (Brazil), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Eastman Chemical Company (U.S.), Greenfield Global, Inc. (Canada), MGP (U.S.), Green Plains Inc. (U.S.), and Cristalco (France).
July 10, 2019: Pharmco, a leading international producer of specialty Industrial Alcohols and high purity solvents, stated that it would expand its distribution capabilities in a new 265,000 square foot warehouse into Ocala, Florida. This new warehouse will strengthen Pharmco’s unique coast-to-coast distribution capabilities for Industrial Alcohol. It will also put the spotlight on its 12 existing North American warehouses that are interconnected with over 40 international distribution partners.
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The Global Industrial Alcohol Market includes various segments such as Source, Type, and Application.
By Source: into sugar & molasses, corn, grains, fossil fuels, and others are the sub-segments.
By Type: ethyl alcohol, methyl alcohol, isopropyl alcohol, isobutyl alcohol, benzyl alcohol, and others are the sub-segments.
By Application: fuel, pharmaceuticals, personal care products, food ingredients, chemical intermediate & solvent, and others are the sub-segments.
Regionally, the Global Industrial Alcohol Market encases prime regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
North America bellwethers the Industrial Alcohol Market with a significant share due to high demands for the product in the automotive and pharmaceuticals sectors. In this region, the U.S. is the largest manufacturer, and consumer of ethanol as its raw material is available on easy notes. Apart from this, the market in the U.S. is driving at the top due to the presence of favourable schemes and projects such as United States Department of Agriculture (USDA) implemented the U.S. ethanol expansion through the agricultural sector.
Asia Pacific region is also expected to be the fastest increasing market with projecting a higher CAGR due to proliferating demands for Industrial Alcohol from chemical, pharmaceutical, and other industries from countries such as India, China, Japan and many more.
The Europe market claims to be majorly driven by the high demand for Industrial Alcohol mainly from automotive, pharmaceutical industries coupled with stringent government regulations. Whereas, the untapped and expanding market in Latin America and the Middle East & Africa are also probable to experience significant growth over the forecast period.
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