Global Industrial Ethanol Market Report and Forecast 2023-2028

Global Industrial Ethanol Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global industrial ethanol market reached a volume of USD 122.82 billion litres in 2022. Aided by the increasing demand for biofuels and the growing applications of industrial ethanol in various sectors such as pharmaceuticals, personal care, and cleaning products, the market is projected to further grow at a CAGR of 2.8% between 2023 and 2028.

Industrial ethanol, also known as ethyl alcohol, is a versatile solvent, effective in both industrial and consumer applications. Produced from the fermentation of sugars by yeast, it plays a crucial role in the manufacturing of a vast array of products, ranging from cosmetics and pharmaceuticals to paints and coatings, and even alternative fuels.

As a vital organic solvent, industrial ethanol is indispensable in the formulation of countless products. In the pharmaceutical sector, it is used as a solvent and preservative in the production of medicines and is a key ingredient in hand sanitisers due to its germ-killing properties. In personal care, ethanol serves as a base in products like perfumes, lotions, and deodorants. It also functions as a clean-burning fuel source in the form of ethanol biofuel.

The increasing global focus on sustainable and renewable energy sources is one of the primary drivers for the industrial ethanol market growth. As nations strive to reduce greenhouse gas emissions, bioethanol, a renewable fuel produced from industrial ethanol, is becoming increasingly important as an alternative to fossil fuels.

Moreover, the ongoing health consciousness trend, accelerated by the recent global health crisis, has led to a surge in demand for sanitisation products, where ethanol is a key component due to its proven effectiveness in killing bacteria and viruses. In addition, the surge in chronic bacterial diseases is bolstering the industrial ethanol market demand.

Additionally, industrial ethanol is extensively used as a solvent in the production of paints, coatings, inks, and other industrial products, owing to its ability to dissolve both water-soluble and oil-soluble substances. With the booming construction and automotive industries, particularly in emerging economies, the demand for these products, and consequently for industrial ethanol, is robust and growing.

The North American region, led by the United States, currently holds a significant portion of the global industrial ethanol market share, owing to its well-established industrial sectors and commitment to renewable energy. Asia-Pacific, however, is expected to exhibit remarkable growth during the forecast period, driven by burgeoning industrial activities in countries like China and India, and increasing environmental concerns pushing for cleaner fuel options.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Paints, Inks and Coatings
• Personal Care
• Cleaning Products
• Food and Beverages
• Pharmaceuticals
• Acetic Acid
• Acrylate
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial ethanol market. Some of the major players explored in the report by Expert Market Research are as follows:

• Archer Daniels Midland Company
• Cargill, Incorporated
• Tereos Participations
• Unicol Limited
• CropEnergies AG
• Alcool Ferreira SA
• COFCO
• INEOS Group Holdings S.A
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.