The global industrial alcohol market is expected to witness growth at a CAGR of 7.6% in the forecast period (2022-2032) and is likely to be valued at US$ 194.7 Bn by 2032.
Alcohol-based sanitizers are considered to be powerful cleaning agents that are used in a wide range of industries to disinfect machinery and equipment. Increasing consumer preference for sanitizers is set to boost growth in the global industrial alcohol market.
Rising use of alcohol-based disinfectants in the healthcare sector to clean medical devices owing to their high effectiveness in killing a wide range of microorganisms is anticipated to drive growth. They are also non-toxic and simple to use, thereby making them ideal for utilization in medical settings.
Endoscope disinfection is one of the most common uses of alcohol-based disinfectants in the healthcare sector. Cleaning and disinfecting respiratory therapy equipment that is frequently contaminated with various microorganisms is another vital application of industrial alcohol. Alcohol-based disinfectants can be used to kill microorganisms, thereby preventing the spread of infections.
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Key Takeaways: Industrial Alcohol Market
- The industrial alcohol market is expected to expand at a CAGR of 6% over the forecast period.
- By source, the corn segment is set to dominate the market by holding around 2% of share and is expected to grow at a CAGR of 4.2% over the forecast period.
- Based on product type, the ethyl alcohol segment is likely to lead the industrial alcohol market by holding more than 2% of share in 2022.
- In terms of application, the transportation fuel & fuel additives segment is anticipated to generate 7% of share in 2022.
- The U.S. industrial alcohol market currently holds more than 7% of share in North America.
“Increasing adoption of bioethanol as a transportation fuel across the globe to reduce emissions of carbon dioxide in the atmosphere and promote sustainability is likely to drive the global industrial alcohol market,” says a Future Market Insights analyst.
Competitive Landscape: Industrial Alcohol Market
Key manufacturers in the global industrial alcohol market are mainly focusing on research & development activities in order to come up with innovative and unique product offerings. In addition to that, key players are focusing on mergers, acquisitions, and joint ventures to expand their geographic presence, as well as their existing production capacities.
- In July 2020, Green Plains Wood River LLC, a Green Plains Inc. subsidiary, announced the installation of a separate 25-million-gallon facility to produce Food Chemicals Codex (FCC) grade alcohol for export and domestic markets. It has plans to expand the production process to manufacture United States Pharmacopeia (USP) grade alcohol within the next few months.
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More Valuable Insights on Industrial Alcohol Market
Future Market Insights, in its new report, offers an impartial analysis of the global industrial alcohol market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Industrial Alcohol Market Outlook by Category
By Source:
Bagasse & Sugarcane
Molasses
Grains
Corn
Fossil Fuels
Others
By Product Type:
Ethyl Alcohol
Isopropyl Alcohol
Isobutyl Alcohol
Methyl Alcohol
Others
By Application:
Pharmaceutical
Transportation Fuel & Fuel Additives
Chemical Intermediates
Food Ingredient
Personal Care
Detergent & Cleaning Chemicals
Others
By Processing Method:
Fermentation
Synthetic
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Frequently Asked Questions
- How much is the global industrial alcohol market worth?
- What is the North America industrial alcohol market outlook?
- Who are the key players operating in the global industrial alcohol market?
- At what rate will the demand for industrial alcohol grow in China?
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