San Francisco, 14 January, Industrial
Alcohol Market Analysis, By Product (Ethyl Alcohol, Methyl Alcohol, Isopropyl
Alcohol, Isobutyl Alcohol), By Source, By Application, By Region, And Segment
Forecasts, 2018 – 2025
The global industrial alcohol market is expected to reach USD
223.63 billion by 2025, according to a new report by Grand View Research, Inc.
Regulatory changes by distinct governments globally, mandating the use of
ethanol in gasoline blend as an alternative fuel accompanied by rising demand
for ethanol as octane level enhancer is driving the industrial alcohol market.
In terms of revenue, ethanol
was estimated as the largest product in 2016 and the trend is anticipated to
continue at a growth rate of 9.5% over the forecast period. Increasing need for
fuel grade ethanol is driving its growth. On account of rising global
greenhouse gas emissions, the requirement for an alternative to fossil fuels in
transportation is gaining importance. Owing to its lower emission properties,
ethanol among the other biofuels is largely preferred as a clean fuel in
transportation. Besides fuel grade, ethanol is also available in food grade
variant and is used in many industrial, pharmaceutical and food & beverage
applications.
Industrial alcohol can be
derived from various sources such as corn, sugarcane molasses, fossil fuels,
and from grains. U.S. and Brazil dominated the ethyl alcohol market in terms of
both volume and value. Corn is the largest source of ethanol in U.S. whereas
sugarcane is the largest source in Brazil.
Methanol, which is largely
derived form syn-gas, is used in the chemical industry as an anti-freeze,
intermediate, denaturant for ethanol, fuel, and solvent for the production of
various chemicals. Besides ethyl alcohol and methyl alcohol, others such as
isopropyl alcohol and isobutyl alcohol, are witnessing increased applications
in various end use industries.
However, the prices of
industrial alcohols are fluctuating owing to the production disequilibrium in
the raw materials such as sugar, natural gas and crop based starches such as
corn and bagasse
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Further key findings from the report suggest:
·
Asia Pacific is expected to
witness the fastest growth, in terms of value, at a CAGR of 9.7% from 2017 to
2025 as large number of automobile manufacturers are manufacturing flexible
vehicles that can adopt to gasoline and ethanol blended fuel.
·
Ethanol emerged as the largest
product, in terms of revenue, in 2016 and is estimated to be valued at USD
99.04 billion by 2025. In terms of revenue, industrial alcohol applications in
personal care and as fuel is expected to register the fastest growth over the
forecast period.
·
Methanol was estimated as the
largest industrial alcohol consumed in China due to its broad applications in
industrial, cosmetic, and pharmaceutical industries. Owing to the growing
chemical industries in Asia Pacific region, the demand for methanol is expected
to propel over the forecast period.
·
The U.S. industrial alcohol
market, in terms of revenue, was valued at USD 28,166.3 million in 2016 and is
estimated to reach USD 57,975.2 million by 2025. The U.S. is the largest
producer and exporter of ethanol.
·
Key players including Royal
Dutch Shell Plc, BASF SE, Eastman Chemical Company have made their presence in
the market where as manufacturers such as Greenfield Global, Grain Millers,
Inc. and Cargill Inc. have a prominent presence in the global market.
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Grand View Research has segmented the
global industrial alcohol market on the basis of product, source, application,
and region.
Industrial Alcohol Product
Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
·
Ethyl Alcohol
·
Methyl Alcohol
·
Isopropyl Alcohol
·
Isobutyl Alcohol
·
Others
Industrial Alcohol Source
Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
·
Grains
·
Sugar & molasses
·
Corn
·
Fossil fuels
·
Others
Industrial Alcohol End Use
Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
·
Food ingredients
·
Fuel
·
Chemicals
·
Pharmaceuticals
·
Personal care
·
Others
Industrial Alcohol Regional
Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
UAE
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
