Industrial Alcohols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Industrial Alcohols Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global industrial alcohols market size reached US$ 135.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 205.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.21% during 2022-2028.

Industrial alcohols are derived by blending and modifying chemicals with natural gas and petroleum products. They usually vary from pure ethyl alcohol to isopropanol, methanol, and glycerol. Amongst these, ethyl alcohol is employed in the food and beverage (F&B) industry to produce alcoholic beverages as it is volatile, flammable, clear, and colorless with a characteristic odor. In addition, isopropanol is widely used in hand wipes, disinfectants, hand sanitizers, and spray-in-air or ultrasonic products on account of its anti-bacterial properties. Nowadays, several manufacturers are introducing a range of consistent, high-quality, non-genetically modified organisms (GMO), organic, and other specialty alcohols.

Industrial Alcohols Market Trends:
The outbreak of coronavirus disease (COVID-19) and the surging need for surface disinfectants in hospitals, medical centers, and public places are positively influencing the demand for industrial alcohols across the globe. It can also be attributed to the widespread use of hand sanitizers to prevent the spread of the pandemic. Moreover, they are employed in the pharmaceutical industry as a carrier for medicinal drugs, such as cough preparations, iodine solutions, decongestants, and antibiotics. This, coupled with the growing prevalence of chronic diseases, is catalyzing the demand for medicines and industrial alcohols. Apart from this, industrial alcohols play a significant role in manufacturing flavors and extracts, food dyes, candy glazes, yeast, sprays, and animal feed supplements. Therefore, the emerging trend of convenience and packaged food products is driving the market. In addition, they are utilized in the formulation of deodorants, perfumes, colognes, lotions, mouthwashes, soaps, and shampoos. This, in confluence with the increasing focus on personal health and hygiene, is expanding the application of industrial alcohols in the personal care industry worldwide.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial alcohols market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, source, purity, processing method and application.

Breakup by Type:

Isopropyl Alcohol
Methyl Alcohol
Ethyl Alcohol
Isobutyl Alcohol
Benzyl Alcohol
Others

Breakup by Source:

Sugarcane and Bagasse
Corn
Grains
Molasses
Fossil Fuels
Others

Breakup by Purity:

Denatured Alcohol
Undenatured Alcohol

Breakup by Processing Method:

Fermentation
Synthetic

Breakup by Application:

Food Ingredient
Transportation Fuel and Fuel Additives
Chemical Intermediates
Pharmaceutical
Personal Care
Detergent and Cleaning Chemicals
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cargill Incorporated, Dow Inc., Eastman Chemical Company, Exxon Mobil Corporation, Flint Hills Resources (Koch Industries Inc.), Grain Processing Corporation (Kent Corporation), Green Plains inc., Greenfield Global Inc., Merck KGaA, MGP Ingredients Inc., Univar Solutions Inc. and Wilmar International Inc.

Key Questions Answered in This Report:
How has the global industrial alcohols market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industrial alcohols market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the source?
What is the breakup of the market based on the purity?
What is the breakup of the market based on the processing method?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industrial alcohols market and who are the key players?
What is the degree of competition in the industry?