Industrial alcohol is also known as pure alcohol, grain alcohol or drinking alcohol. It is commonly used in chemicals, flavors, fragrances, paints, coatings, inks, etc. Industrial alcohol is derived from grains, sugarcane and fruit waste. Major factor driving the growth of the global industrial alcohol market is increasing demand of bioethanol as an alternative energy source to the conventional fuels such as petrol and diesel.
The global industrial alcohol market has been segmented on the basis of source, type, application, and region. On the basis of source, the market is segmented into fossil fuels, sugar & molasses, grains, corn, and others. Corn segment holds a major share in terms of revenue and expected to maintain its dominance over the forecast period.
On the basis of type, the market is segmented into methyl alcohol, ethyl alcohol, benzyl alcohol, isopropyl alcohol, isobutyl alcohol, and others. Ethyl alcohol segment dominates the global market and expected to witness a significant growth over the forecast period, due to increasing demand and usage of ethanol in various industries such as pharmaceuticals, fragrances, chemical, and many more.
On the basis of application, the market is segmented into personal care products, pharmaceuticals, food ingredients, fuel, chemical intermediates and solvent, and others. Fuel segment holds a major share in terms of revenue in the global market, owing to the increasing use of biofuel and increasing environmental concerns in developed countries.
Request for the Sample Report Here: https://marketresearch.biz/report/industrial-alcohol-market/request-sample/
Based on the region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, North America dominates the global market in terms of revenue, owing to easy availability of raw materials in the region and stringent government rules and regulation of energy sector. The Asia Pacific market is expected to witness the fastest growth in terms of revenue in the near future, due to the increasing demand for alternate fuel sources for conventional fuels, especially in China, Thailand, and India. Latin America and Middle East and Africa are at a nascent stage to the global market is expected to register an average growth rate over the forecast period, followed by Europe.
Key players operating in the global industrial alcohol market include Cargill, Incorporated, Raízen Energia S.A., Green Plains Inc., Cristalco SAS, MGP Ingredients, Inc., The Andersons, Inc., Sigma-Aldrich Corporation, Grain Processing Corporation, GreenField Specialty Alcohols Inc., and Flint Hills Resources, LLC.