Industrial Alcohol Market Overview
Alcohol used in industries is denatured alcohol which is usually ethyl alcohol (C2H5OH). This denatured alcohol is of two types: type a (completely denatured alcohol) and type b (special denatured alcohol). Type b ethyl alcohol is very common for industrial uses. Further, industrial alcohol or denatured alcohol is made by similar processes as for food-grade alcohol. Moreover, denaturing substances are further aided in industrial alcohol just to make them unfit for food. Industrial alcohol is highly used in industries including petrochemical, cosmetics, pharmaceutical and chemical industries for sanitizing, cleaning and other solvent uses. Moreover, industrial alcohols are also used in different products such as cosmetics, medicines, detergents, solvents and other products in order to make them taste unpleasant.
Market Size & Forecast
Global industrial alcohol market is anticipated to grow at a compound annual growth rate (CAGR) of 9.9% during the forecast period i.e. 2017-2024. Additionally, global industrial alcohol market is projected to reach at a valuation of around USD 182.1 Billion by the end of forecast period
Rising adoption of industrial alcohol in cosmetic, paint & art and petrochemical industries coupled with commercialization of alternative fuels such as bioethanol and bio-butanol are some of major factors which are expected to escalate the growth of global industrial alcohol market during the forecast period.
In terms of region, global industrial alcohol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Further, North America region is anticipated to witness a remarkable growth during the forecast period. U.S. and Canada countries are expected to dominate the North America industrial market in near future. U.S. is the leading producer of ethanol and producing more than 50% of the global ethanol production. This growth in North America industrial alcohol market can be attributed to growing prevalence of Industrial alcohol in chemical industries and uses of ethanol as alternative fuel in this region.
Additionally, Asia Pacific region is expected to grow at maximum pace during the forecast period. Factors such as growing awareness towards greenhouse effect and additional benefits of fossil fuels coupled with existing government rule and regulations in energy sector are expected to foster the growth of industrial alcohol market in this region. Moreover, India, and China are expected to be the dominating countries in Asia Pacific industrial alcohol market due to high adoption of industrial alcohol in end use industries in these countries.
Furthermore, several government initiatives in this region in order to promote biofuels as an efficient alternative of fuels are expected to fuel the growth of industrial market in Europe region. Sweden, Germany and Spain countries are expected to be the key contributors to the growth of Europe industrial alcohol market during the forecast period.
Our-in depth analysis of the industrial alcohol market includes the following segments:
By End User
Global industrial alcohol market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Rising population of ethanol as an alternative for fuels in countries such as United States, Brazil and Canada is a major factor driving the growth of global industrial alcohol market. Further, increasing prevalence of industrial alcohol in end use industries such as personal care industries and chemical industries is propelling the growth of global industrial alcohol market.
Moreover, government initiatives in emerging economies such as India and China for promotion of biofuels and existing rule and regulations in energy sector are some major factors which are fostering the growth of global industrial alcohol market.
Growing awareness among consumers towards greenhouse effects and hazardous effect of carbon emission on environment is fostering the demand for biofuels. Further, increasing preference of biofuels is also a reason which is likely to drive the growth of global industrial alcohol market during the forecast period. Apart from this, growing demand for industrial alcohol in medical pharmaceutical industries for production of vaccines, syrups and other drugs is likely to propel the growth of global industrial alcohol market. Moreover, availability of feed stock such as corn, sugarcane for low cost raw material production in countries such as India, China, and Brazil is also a major factor which is driving the growth of global industrial alcohol market.
However, continuous price variation with raw materials is a major factor which is expected to be hampering the growth of global industrial alcohol market during the forecast period. Additionally, lack of awareness among consumers towards uses of biofuels as fuel alternative is a major challenge which is dampening the growth of global market of industrial alcohol.
Scope & Context
Overview of the Parent Market
The global industrial alcohol ventilators market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization
Great focus on accuracy and quality of the research
(U.S.) - +1 646 586 9123
(Canada) - +1 437 889 3230
(U.K.) - +44 203 608 5919
(India) - + 91 120 660 5495