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What is Expected Industrial Alcohol Market Size and Growth Forecast for 2025?
The global industrial alcohol market size has seen consistent growth over the years and is projected to grow from $177.6 billion in 2024 to $198.18 billion in 2025, at a compound annual growth rate (CAGR) of 11.6%. This growth can be attributed to increased ethanol fuel production, the growth in the pharmaceuticals and healthcare, beverage and food industry, the rise in chemical manufacturing, and the increased use in cleaning and sanitization. Looking ahead, the market is anticipated to reach $334.18 billion in 2029, growing at a CAGR of 14.0%, driven by the increasing renewable energy, rising demand for hand sanitizers and disinfectants, and the increasing demand from personal care products.
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What Factors Are Driving the Industrial Alcohol Market?
The growth of the industrial alcohol market is largely driven by the increasing demand for biofuels among end-users. Biofuel, such as ethanol, is a renewable energy source derived from microbial, plant, or animal waste. Its application in gasoline as a blending ingredient to boost octane and reduce carbon monoxide and other smog-causing pollutants is increasing to minimize air pollution. In 2022, the ethanol blend rate in U.S. gasoline reached a new high of 10.39%. This rise signifies a continued recovery in ethanol volumes from the lower levels experienced during the pandemic.
What Are the Major Segments Within the Industrial Alcohol Market?
The industrial alcohol market covered in this report is segmented by:
1) Type – Isopropyl Alcohol, Methyl Alcohol, Ethyl Alcohol, Isobutyl Alcohol, Benzyl Alcohol
2) Source – Molasses, Sugar, Grains, Fossil Fuels
3) Processing Method – Fermentation, Synthetic
4) Application – Fuel, Chemical Intermediates And Solvent, Pharmaceuticals, Personal care products, Food Ingredients
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Which Key Players Are Dominating the Industrial Alcohol Market?
Key players in the global industrial alcohol market include Cargill Incorporated, Cristalco SAS, Raizen Energia SA, MGP Ingredients Inc., Green plains Inc., Sigma-Aldrich, Grain Millers Inc., The Andersons Inc., BASF SE, Royal Dutch shell plc, Exxon mobil corporation, Univar Solutions, BIRLA SUGAR, Valero Energy Corporation, Flint Hills Resources, Roquette Freres SA, Jiangsu Lianhai Biological Technology Co. Ltd., Shell Chemicals, Cosan S.A., Celanese Corporation, Novozymes A/S, Solvay S.A., IG Petrochemicals, Aemetis Inc., Vantage Oleochemicals, Pannonia Bio, and ACI Alloys Inc.
What Are the Trends in the Industrial Alcohol Market?
Major companies operating in the market are focusing on product innovation, like the Australian Absinthe, to provide reliable services to customers. For instance, in May 2022, Never Never Distilling Co., an Australia-based alcohol company, introduced Australian Absinthe, a drink made utilizing a unique blend of traditional botanicals.
Which Region is Expected to Dominate the Industrial Alcohol Market?
In 2024, North America held the highest market share in the industrial alcohol market, while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Definition: What Does The Industrial Alcohol Market Include?
Industrial alcohol is utilized in various industrial applications. This alcohol, especially ethanol, is used in industries like adhesives, cosmetics, detergents, explosives, inks, and hand creams. It is also used in the production of vaccines, compound tonics, syrups, tinctures, liniments, and antiseptics. The Industrial Alcohol Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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