Chemicals

Ethyl Alcohol Market Commodities, High Growth Opportunities, Segmentation, Market Trends By 2024-2033|Archer-Daniels-Midland Company (ADM), Wacker Chemie AG, Celanese Corporation, Valero Energy Corp, Lanxess AG

The Ethyl Alcohol Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Ethyl Alcohol Global Market Report 2024, The ethyl alcohol market size has grown strongly in recent years. It will grow from $561.68 billion in 2023 to $601.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to alcoholic beverages, pharmaceuticals and healthcare, industrial and chemical manufacturing, personal care and cosmetics.

The ethyl alcohol market size is expected to see strong growth in the next few years. It will grow to $785.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to renewable energy and biofuels, pharmaceutical and healthcare growth, chemical manufacturing innovation, sustainable packaging. Major trends in the forecast period include bio-based ethyl alcohol, advanced pharmaceutical formulations, circular economy initiatives, digital transformation in ethyl alcohol production.

Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages as an adjunct. The food processing industry is growing significantly due to increased demand for ready-to-eat, frozen, and packaged foods. As a result, the demand from the food processing industry has also increased due to the growing population through new births and migrations, which further increases the industry’s production and demand for ethanol. The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow to $7.38 billion by 2024 at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in the food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market.

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The ethyl alcohol market covered in this report is segmented –

1) By Type: Synthetic; Fermented

2) By Application: Industrial Solvent; Fuel/Fuel Additive; Bacteriacide/Disinfectant, Beverages, Personal Care, Other Applications

3) By End User Industry: Automotive; Food and Beverages; Pharmaceutical; Personal Care; Other End Use Industries

The ethyl alcohol market report table of contents includes: