Ethyl Alcohol Market:
Growth opportunities in the ethyl alcohol market look promising over the next six years. This is mainly due to the increasing demand from several industries like chemicals and personal care, constant expansion in production, and availability of lignocellulosic biomass in ethanol production.
Ethyl Alcohol Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging demand for ethyl alcohol in beverage and industrial sectors is the prominent driver stimulating the market growth. In accordance with one of the major producers, “Grain Processing Corporation,” flavored vodka and vodka pursue to lead the consumption, which is promoting the market growth. Also, the spirit industry is riding high to manufacture refreshing drinks for the summer season. Moreover, the widespread outbreak of coronavirus pandemic has left some grey spots on the economy and is thereby augmenting the demand for industrial alcohol from different sectors, which include personal care products, chemicals, and pharmaceuticals guided by the recovery phase of the virus. Also, the global expansion in the production of ethanol is strengthening the market size. For example, according to “International Energy Statistics,” the production has increased from 28.42 billion gallons in 2018 to 29.03 billion gallons in 2019, representing a considerable potential of the market. The accessibility and technological development in the lignocellulosic biomass used in its production is prompting their commercialization, further fuelling the ethyl-alcohol market growth.
The “Ministry of Petroleum and Natural Gas India” stated that the country has already advanced the aim to attain 20% ethanol-blended fuel in five years, and now the objective is set to be accomplished by the end of 2025, which presents the accelerating demand of the market. However, as per the ethyl-alcohol market trends, the instability in the prices of crude oil may hinder the market size.
Regional Drivers
Based on the regional coverage, North America is projected to lead the market over the forecast period. U.S. accounts to be its largest producer across the world. The “International Energy Statistics” asserted that the country produced 15.75 billion gallons out of the total 29.03 billion gallons produced in 2019, which is over 50% of the total production. Additionally, the “Energy Information Administration,” stated that U.S. has lodged more than 40 ethanol biorefinery along with five biorefinery still under construction, which will raise the production capability, resulting in market growth.
Ethyl Alcohol Market’s leading Manufacturers:
- HPCL Biofuels Limited
- Green Plains Inc.
- Cargill, Incorporated
- ADM
- Braskem
- Advanced BioEnergy, LLC
- Green Plains Inc.
- Bp p.l.c.
- The Andersons, Inc.
Ethyl Alcohol Market Segmentation:
Segmentation by Grade
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
Segmentation by Purity
- Undenatured Ethanol
- Denatured Ethanol
Segmentation by Application
- Industrial Solvent
- Fuel/Fuel Additive
- Bactericide/Disinfectant
- Beverages
- Personal Care
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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