Industry Background:
Industrial alcohol is a distilled ethyl alcohol, generally of high proof, produced and sold for other than beverage purposes. It is normally distributed in the form of pure ethyl alcohol, completely denatured alcohol, particularly denatured alcohol and proprietary solvent blends. Furthermore, it is used in laboratories and in industry for its sanitizing, solvent and cleaning properties. Many medicines, food products, flavorings and cosmetics could not be made without it. Moreover, industrial alcohol used to process vaccines, compound tonics, syrups, tinctures, liniments and antiseptics as well as being vital in the manufacture of pharmaceuticals such as chloroform, barbiturates and others.This growth is primarily driven by Increasing Demand for Biofuels from End Use Applications
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Litres |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Cargill Inc. (United States), BASF SE (Germany), Exxon Mobil Corporation (United States), MGP Ingredients Inc. (United States), Lanxess (Germany), Green Plains Inc. (United States), Haike Chemical Group (China), Cristalco (France), Greenfield Specialty Alcohols Inc. (Canada) and The Andersons Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Recently Ethanol is increasingly being used as a fuel, particularly in the United States and Brazil. This is driving demand for industrial alcohol, as ethanol is typically produced from corn or sugarcane through a fermentation process.In April 2021, the US Environmental Protection Agency (EPA) announced that it would maintain the current Renewable Fuel Standard (RFS) blending targets for 2021 and 2022, which include a minimum volume of 15 billion gallons of conventional ethanol. This decision is expected to support the demand for industrial alcohol, particularly ethanol.
Regulatory Insights:
TTB requires a statement of composition on the label of products such as alcohol infused whipped cream that identifies for consumers the type of distilled spirit in the product, and as a result, the fact that the product is an alcohol beverage.
Influencing Trend:
Increasing Usage of Alcohol in a Wide Spectrum of Applications
Market Growth Drivers:
Increasing Demand for Biofuels from End Use Applications and Rising Shortage of Petroleum and Its Increasing Prices
Challenges:
Approval from Various Regulatory Organizations
Restraints:
High Raw Material Prices
Opportunities:
Increasing Use of Ethanol in Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Industrial Alcohol Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Industrial Alcohol Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Industrial Alcohol players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Industrial Alcohol Study Sheds Light on
The Industrial Alcohol Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Industrial Alcohol industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Industrial Alcohol industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.