A recent report published by QMI on Industrial Alcohol market is a detailed assessment of the most important market dynamics. After carrying out thorough research of industrial alcohol market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for industrial alcohol during the forecast period. It can enable manufacturers of industrial alcohol to change their production and marketing strategies in order to envisage maximum growth.
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The Industrial Alcohol Market is expected to promise high growth owing to it is a clean source of energy and is generally used as a biofuel in the recent years. Increasing demand from Applications including Fuel, Pharmaceuticals, Personal Care Products, and Chemical Intermediate & Solvent is expected to drive the growth of industrial alcohol market. This market has witnessed number of key developments by major companies including Flint Hills Resources, Cargill, Green Plains Inc., Ra?zenEnergia, Cristalco, and Sigma Aldrich with focus on organic as well as inorganic growth strategies. Developing regions including Asia Pacific and Middle East have been among the high potential markets with high growth in some of the key economies.
Understanding the chemistry and uses of industrial alcohol-
Industrial alcohols act as a reagent and solvent in various industrial applications. Industrial alcohols have gained popularity in the end-use industry due to its multi-functionality hence driving the market.
Segmentation for better understanding of this market and its growth prospects:
Based on product type industrial alcohol market is segmented into isopropyl alcohol, methyl alcohol, ethyl alcohol isobutyl alcohol, benzyl alcohol, and others. Ethanol is majorly used in the industrial alcohol market. There has been a significant rise in the usage of methanol as well. Methanol is used for the synthesis of formaldehyde and as a fuel additive. Ethanol is used alcoholic beverages, as a fuel additive and as a solvent. Propanol, butanol and isobutyl alcohol is used as a solvent and precursor to solvents. Benzene alcohol used for plasticizers. Also, other heavier alcohol finds its application in detergent and pharmaceutical.
Based on the source industrial alcohol market is segregated into molasses, sugar, grains, fossil fuels, and others. The grain source segment is most widely used. Ethanol fuel is the most common biofuel obtained from grain worldwide. Lower grain prices, heavy exports of ethanol and more requirements for blending have led to increased grain segment on an industrial alcohol market. By source type, molasses is the second-largest segment of industrial alcohol market.
By application industrial alcohol market is segmented into fuel, chemical intermediates & solvent, pharmaceuticals, personal care products, food ingredients, and others. Fuel is one of the major applications due to its functional properties such as high octane number and flammability characteristics, ethyl alcohol, methyl alcohol, and isobutyl alcohol are widely used as a blender in low concentrations with motor gasoline as an oxygenate. Many alcohols are used for the synthesis of other chemicals as a raw material.
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Important Factors Impacting Market Growth:
o It is a clean source of energy and is generally used as a biofuel
o The growing concern for energy security and demand for low-priced feedstock
Regional segmentation and analysis to understand growth patterns:
Based on region, the industrial alcohol market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe being some of major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. These regions have been witnessing number of transitions in terms of productions of chemicals and respective applications by end-use industries.
Asia Pacific and Middle East are expected to register substantial growth in industrial alcohol market during the forecast period. This demand is with regards to the growth of major applications such as fuel, pharmaceuticals, personal care products, chemical intermediate & solvent.
Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for industrial alcohol market. There has been increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for industrial alcohol market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.
Companies Covered: Flint Hills Resources, Cargill, Green Plains Inc., Ra?zenEnergia, Cristalco, Sigma Aldrich, the Andersons Inc., MGP Ingredients, Grain Processing Corporation, and Greenfield Specialty Alcohols
Market Segmentation:
By Source:
o Sugar & Molasses
o Corn
o Grains
o Fossil Fuels
By Type:
o Ethyl Alcohol
o Methyl Alcohol
o Isopropyl Alcohol
By Application:
o Fuel
o Pharmaceuticals
o Personal Care Products
o Chemical Intermediate & Solvent
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Source
o By Type
o By Application
o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Source
o By Type
o By Application
o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Source
o By Type
o By Application
o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Source
o By Type
o By Application
o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Source
o By Type
o By Application
o Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Source
o By Type
o By Application
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