Major companies in the ethyl alcohol and other basic organic chemicals market include ADM Company; DowDuPont Inc; Celanese Corporation and Raízen. The global ethyl alcohol and other basic organic chemical market is expected to grow from $867.
New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018808/?utm_source=GNW
84 billion in 2020 to $953.99 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1096.2 billion in 2025 at a CAGR of 4%.
The ethyl alcohol and other basic organic chemicals market consists of the sales of ethyl alcohol and other basic organic chemicals by entities (organizations, sole traders or partnerships) that distil wood or gum into products, such as tall oil and wood distillates; distil coal tars; produce wood or gum chemicals, such as naval stores, natural tanning materials, charcoal briquettes, and charcoal (except activated); produce cyclic crudes or cyclic intermediates (i.e., hydrocarbons, except aromatic petrochemicals) from refined petroleum or natural gas; and/or produce basic organic chemical products (except aromatic petrochemicals, industrial gases, synthetic organic dyes and pigments, gum and wood chemicals, cyclic crudes and intermediates, and ethyl alcohol). The ethyl alcohol and other basic organic chemicals market is segmented into synthetic sweeteners; plasticizers; ethyl alcohol; silicone (except resins); fatty acids and gum and wood chemicals.
Asia Pacific was the largest region in the global ethyl alcohol and other basic organic chemical market, accounting for 57% of the market in 2020. Western Europe was the second largest region accounting for 16% of the global ethyl alcohol and other basic organic chemical market. Africa was the smallest region in the global ethyl alcohol and other basic organic chemical market.
Chemical companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters and pressure transmitters that help to improve operational efficiency in manufacturing facilities. For example, Siemens process instrumentation and gas analytics solutions increases productivity and efficiency during plant operations.
Interest rates globally are forecasted to rise in most of the developing and developed economies during the forecast period. This is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021 . These factors are expected to have a negative impact on the market as borrowing money will become expensive, thereby affecting the market growth.
Ethyl alcohol or ethanol, is being used as a combination with motor fuel in some countries. Ethyl alcohol used for fuel is being blended into gasoline at concentrations of 5% to 10%. Mostly sugar cane and corn is used to produce ethanol. For example, ethanol has replaced methyl tertiary butyl ether as a gasoline component and 50% of cars in Brazil are using 100% ethanol as fuel. Ethanol-only engines and flex fuel engines are also adding to the growth of this market. Furthermore, many state and local governments in emerging markets such as China and India are passing laws for mandatory blending of ethanol in gasoline and diesel to reduce carbon emissions. For instance, in 2017, China announced a nationwide ethanol mandate (NEA 2017), which expanded the mandatory use of E10 fuel (gasoline containing 10% ethanol) from 11 trial provinces to the entire country by 2020 , thus driving the growth of the ethyl alcohol market.
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