The industrial alcohol market is projected to reach $194.7 billion by 2032, with a 7.6% CAGR, fueled largely by increased demand for alcohol-based sanitizers due to heightened cleanliness concerns worldwide.
Over the forecast period (2022–2032), the global industrial alcohol market is anticipated to rise at a compound annual growth rate (CAGR) of 7.6%, and by 2032, it is projected to be worth US$ 194.7 billion.
Considered powerful cleaning agents, alcohol-based sanitizers are utilised in numerous industries to sanitise machinery and equipment. It is projected that the worldwide industrial alcohol market would expand due to an increase in consumer demand for hand sanitizers.
As a way to sanitise medical equipment, alcohol-based disinfectants are predicted to experience rapid expansion in the healthcare sector due to their great efficacy in eliminating a broad variety of pathogens. Because they are easy to use and non-toxic, they are perfect for usage in medical settings.
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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.
Key Takeaways: Industrial Alcohol Market
- The industrial alcohol industry is expected to expand at a CAGR of 7.6% over the forecast period.
- By source, the corn segment is set to dominate the market by holding around 30.2% 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 industry by holding more than 31.2% of share in 2022.
- In terms of application, the transportation fuel & fuel additives segment is anticipated to generate 26.7% of share in 2022.
- The U.S. industrial alcohol industry currently holds more than 75.7% of share in North America.\
Competitive Landscape: Industrial Alcohol Market
Key manufacturers in the global industrial alcohol industry 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.
Key Companies Profiled in Industrial Alcohol Market are Cargill Inc., Archer-Daniels-Midland Company, Green Plains Inc., Grain Millers Inc., Willmar Group, MGP Ingredients, Inc., Cristalco, Royal Dutch Shell Plc, Raizen Energia, GREENFIELD SPECIALTY ALCOHOLS
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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 industry, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on source (bagasse & sugarcane, molasses, grains, corn, fossil fuels, others), product type (ethyl alcohol, isopropyl alcohol, isobutyl alcohol, methyl alcohol, others), (pharmaceutical, transportation fuel & fuel additives, chemical intermediates, food ingredient, personal care, detergent & cleaning chemicals, others), and processing method (fermentation, synthetic) across seven major regions of the world.
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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