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Industrial Alcohol Global Market Report 2022
Major players in the industrial alcohol market are Cargill Incorporated, Cristalco, Raizen Energia, MGP Ingredients, Green Plains Inc, Sigma-Aldrich, Grain Millers Inc. , The Andersons Inc, Flint Hills Resources, Royal Dutch Shell Plc, Exxon Mobil Corporation, Univar Solutions, BASF, and Birla Sugar.
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Alcohol Global Market Report 2022" - https://www.reportlinker.com/p06323490/?utm_source=GNW
The global industrial alcohol market is expected to grow from $128.61 billion in 2021 to $141.66 billion in 2022 at a compound annual growth rate (CAGR) of 10.15%. The industrial alcohol market is expected to reach $204.47 billion in 2026 at a CAGR of 9.61%.
The industrial alcohol market consists of sales of industrial alcohol and related products by entities (organizations, sole traders, and partnerships) that are employed in the production of vaccinations, compound tonics, syrups, tinctures, liniments, and antiseptics, as well as medications such as chloroform, atabrine, and barbiturates.Industrial alcohol refers to distilled ethyl alcohol used in industrial applications.
It is majorly used as a primary raw material in the production of chemical compounds such as acetaldehyde, ethyl acetate, acetic acid, and others.
The main type of industrial alcohol includes isopropyl alcohol, methyl alcohol, ethyl alcohol, isobutyl alcohol, and benzyl alcohol.Isopropyl alcohol is used as an ingredient in various cosmetics and medicinal preparations for external use.
Isopropyl alcohol is an isomer of propyl alcohol and a homologue of ethyl alcohol, with properties similar to it when used externally but more toxic when consumed internally.The method used is in the manufacturing of industrial alcohol includes fermentation and synthetic.
They are sourced from molasses, sugar, grains, and fossil fuels. The application of industrial alcohol includes fuel, chemical intermediates and solvent, pharmaceuticals, personal care products and food ingredients.
North America was the largest region in the industrial alcohol market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the industrial alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The industrial alcohol market research report is one of a series of new reports that provides industrial alcohol market statistics, including industrial alcohol industry global market size, regional shares, competitors with an industrial alcohol market share, detailed industrial alcohol market segments, market trends and opportunities, and any further data you may need to thrive in the industrial alcohol industry. This industrial alcohol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for biofuels among end-users is significantly contributing to the growth of the industrial alcohol market going forward.Biofuel is a renewable energy source made from microbial, plant, or animal waste.
Global energy consumption is predicted to rise significantly in the next years, and it is widely acknowledged that alternative, sustainable methods to meet those requirements must be developed.Ethanol is also called distilled alcohol or industrial alcohol which is a renewable fuel that is used significantly for the production of biofuel.
Ethanol is an alcohol that is also used in gasoline as a blending ingredient to boost octane and reduce carbon monoxide and other smog-causing pollutants to minimize air pollution.For instance, currently, 98% of gasoline in the United States contains ethanol, often E10 (10% ethanol, 90% gasoline).
Therefore, increasing demand for biofuels is expected to boost demand for industrial alcohol during the forecast period.
Technological advancements are the key trend gaining popularity in the industrial alcohol market.The manufacturer of industrial alcohol is using advanced technology for fast and sustainable production.
New and advanced ethanol manufacturing technology is being developed with easy compatibility with the existing processes without much capital expenditure.For instance, in 2021, Arkansas Company added green to the ethanol manufacturing process after receiving funding for technology development.
The new novel catalytic membrane technology can be fine-tuned to take corn fiber, a byproduct of the corn-to-ethanol process, and convert it into sugars suitable for ethanol production.
In March 2020, MGP Ingredients, Inc., a US-based provider of premium distilled spirits and specialized wheat proteins and starches acquired New Columbia Distillers LLC for an undisclosed amount. With the acquisition, MGP Ingredients is focused on expanding its operational capabilities and market presence across the globe. New Columbia Distillers LLC is a US-based producer of distilled alcohol.
The countries covered in the industrial alcohol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06323490/?utm_source=GNW
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