According to a market report by Lucintel, the future of the industrial alcohol market looks promising with opportunities in the personal care product, pharmaceutical, fuel, food ingredient, and chemical intermediate & solvent industries. The industrial alcohol market is expected to grow with a CAGR of 9% from 2019 to 2024. The major drivers for this market are increasing demand for bio-ethanol and organic solvents and higher use of alcohol in a wide spectrum of applications.
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In this market, ethyl alcohol, methyl alcohol, isopropyl alcohol, isobutyl alcohol, and benzyl alcohol are used in various applications. Ethyl alcohol is the largest product segment of the industrial alcohol market.
Sugar and molasses, corn, grains (excluding corn), and fossil fuels are the major source segments of the industrial alcohol market. Sugar and molasses is the largest source segment of the industrial alcohol market.
North America will remain the largest region over the forecast period due to rapid growth in demand for personal care products, increase in awareness of the role of alcohol in maintaining a hygienic environment, and growth in the number of production facilities.
Cargill, Raízen Energia, Green Plains, Cristalco, MGP Ingredients, The Andersons, Grain Processing Corporation, Greenfield Specialty Alcohols, Flint Hills Resources, and Sigma Aldrich are among the major manufacturers of industrial alcohol.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the industrial alcohol market product, source, application, and region. Lucintel has prepared a comprehensive research report titled "Industrial Alcohol Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the industrial alcohol market by product, source, application, and region as follows:
By Product [$M shipment analysis for 2013 – 2024]:
Ethyl Alcohol
Methyl Alcohol
Isopropyl Alcohol
Isobutyl Alcohol
Benzyl Alcohol
Others
By Source [$M shipment analysis for 2013 – 2024]:
Sugar and Molasses
Corn
Grains (excluding Corn)
Fossil Fuels
Others
By Application [$M shipment analysis for 2013 – 2024]:
Personal Care Products
Pharmaceuticals
Fuel
Food Ingredients (excluding Beverages)
Chemical Intermediates and Solvents
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Italy
Spain
Asia-Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/industrial-alcohol-market.aspx or helpdesk@lucintel.com.
About Lucintel
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