Industrial alcohol is an ethanol, which is a flammable liquid, colorless, volatile and widely used biofuel. Industrial alcohol is also known as ethyl alcohol, which is derived from various sources like grains, corn and molasses. Industrial alcohol is used in gasoline-operated vehicles as a blend with gasoline, due to its low emissions and less intoxicating effects. Industrial alcohol is also used as a solvent, fuel, reagent alcohol, and as a food supplement. Along with this, Industrial alcohol or ethanol plays an important role as an additive in the reducing fuel emissions and subside engine knocking.
Industrial Alcohol Market: Key Players
The research study includes profiles of leading companies operating in the global Industrial Alcohol market. Key players profiled in the report include: Cargill, The Andersons Inc., Green Plains Inc., Cristalco, MGP Ingredients, Grain Millers Inc. and Raizen Energia.
Drivers for the Global Industrial Alcohol Market:
Rise in awareness about the depletion of fossil fuel resources and its increasing impact on the environment are some of the major factors that are driving the growth of the global industrial alcohol market. Along with this, changing lifestyles, growing economy and shift toward renewable resource utilization are some another factors that also driving the growth of the global industrial alcohol market.
Opportunities for the Global Industrial Alcohol Market:
Rising demand by the individual contribution of various sources in end-use industries like pharmaceutical, personal care, transportation, food & beverages, and others industries is one of the major factor that is driving the growth of the global industrial alcohol market in the forecast period. Along with this, the demand for industrial alcohol is increasing because it is widely used as a sanitizer for cleaning and in chemical laboratories and it is also use in the medicines, in the food ingredient for flavoring and in various other cosmetic products are some of the factors that also drive the growth of the global industrial alcohol market in the forecast period.
Restrains for the Global Industrial Alcohol Market:
Raw materials that are required for industrial alcohol depends upon various factors like cultivation yield, climatic conditions, and the quality of crops. These raw materials are like sugar, corn and wheat, which are inelastic in terms of price demand. Hence, due to the fluctuation of these raw material prices can hamper the growth of the global industrial alcohol market.
Region Wise, Global Industrial Alcohol Market Analysis:
On the basis of region, the Industrial Alcohol market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific held the largest share in the market because of the increase in the consumption of industrial alcohol and rise in the demand for agricultural livestock. North America is also having the maximum share in the global industrial alcohol market, which is followed by the Europe region.
Covid-19: Impact and Recovery Analysis for Global Industrial Alcohol Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: Industrial Alcohol market globally. Most of the industries and businesses like: Industrial Alcohol are shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. Due to outbreak of Covid-19, there is increase in the demand for alcohol-based sanitizers and household cleaning products. According to the guidelines that are issued by the CDC, hand sanitizers with an alcohol content of over 60% and disinfectants with an alcohol content of over 70% are suitable to prevent the Covid-19 infection. With relaxation in the FDA guidelines for hand sanitizers, the utilization of alcohol including ethanol and isopropyl alcohol has witnessed a considerable increase in the production of hand sanitizers and disinfectant products. The updated report will account for COVID-19 as a key market contributor. Hence, there is increase in the demand for industrial alcohol in the Covid-19 crisis.
Global Industrial Alcohol Market: Product analysis
- Ethyl Alcohol
- Methyl Alcohol
- Isopropyl Alcohol
- Isobutyl Alcohol
Global Industrial Alcohol Market: Application analysis
- Sugarcane & Bagasse
Global Industrial Alcohol Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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