USD 124 billion
Global Industrial Alcohol Market Size, Share, Growth Analysis, By Product(Ethyl Alcohol, Methyl Alcohol), By Application(Food Ingredient, transportation fuel & fuel additives), By Source(Grains, Corn) - Industry Forecast 2024-2031
Report ID:
SQSG15B2011 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
95 |
Figures:
76
Global Industrial Alcohol Market Insights
Industrial Alcohol Market size was valued at USD 124 billion in 2019 and is poised to grow from USD 137.54 billion in 2023 to USD 301 billion by 2031, growing at a CAGR of 10.6% in the forecast period (2024-2031).
Rising demand for industrial alcohol as an octane enhancer and continuously growing need in several end-use industries including personal care, pharmaceutical, food & beverage, and transportation are the major key factors expected to drive the growth of the global industrial alcohol market during the forecast period. Moreover, high usage of ethanol in various transportation applications as a fuel type is also propelling the global demand and growth of the market.
Furthermore, high implementation of the global clean air act has helped to reduce exhaust gas emissions from various conventional gasoline. According to U.S. Environmental Protection Agency, ethanol plays a crucial role in reducing fuel emissions and subside engine knocking also coupled with the high number of octane presence in ethanol, which is highly utilized by gasoline formulators to improve their engine performance. All these factors are likely to boost the growth of the global industrial alcohol market over the forecast period.
In addition, large presence of international market players and their continuously rising numbers of innovation and development to offer more improved and enhanced products to their consumers and strengthen their market position is also projected to fuel the growth of the global industrial alcohol market over the coming years. For instance, in July 2021, POET announced about its acquisition of Flint Hills Resources complete ethanol business. It will help company to boost the production capacity by nearly 40% to 3 billion gallons per year.
US Industrial Alcohol Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Ethyl Alcohol
Fastest Growth
Methyl Alcohol
Growth Rate
10.6% CAGR
Global Industrial Alcohol Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Industrial Alcohol Market Size By Product, 2021-2028 ($ Bn)
Global Industrial Alcohol Market Size By Product, 2021-2028 (%)
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Global Industrial Alcohol Market Segmental Analysis
Global industrial alcohol market is segmented on the basis of product, application, source, and region. By product, Industrial Alcohol Market is segmented into ethyl alcohol, methyl alcohol, isopropyl alcohol, and others. By application, Industrial Alcohol Market is categorized into food ingredient, transportation fuel & fuel additives, pharmaceutical, personal care, and others. By source, Industrial Alcohol Market is divided into grains, corn, fossil fuels, sugar & molasses, and others. By region, Industrial Alcohol Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Industrial Alcohol Market Analysis by Product
By product, the ethyl alcohol segment dominated the market and accounted for a significant market share in 2021. Easy availability of raw materials required in the production process such as wheat, barley, and corn is the major factor driving the growth of the segment. The United States is the major producer of corn-based ethanol worldwide. Around 97% of the all gasoline used in the United States contains at least 10% of ethanol in it. Furthermore, rising usage of ethanol as a clean and alternative fuel mainly in developed regions including Japan, France, the United States, and the United Kingdom, is also fostering the growth of the segment and expected to do so in the near future.
Industrial Alcohol Market Analysis by Application
By application, the transportation fuel & fuel additives segment held the largest market share in 2021 and is projected to maintain its dominance throughout the forecast period. Rapid growth in the global automotive sector and rising demand for gasoline operated vehicles has gained huge growth especially in Asia Pacific and Europe, which is expected to drive the growth of the segment over the coming years. In addition, use of bioethanol in existing vehicles has several benefits as it releases much lesser toxic chemicals as compared to other fossil fuels available in the global market, which is encouraging consumers to opt for these products.
Global Industrial Alcohol Market By Product, 2021 (%), 2023 (%)
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Global Industrial Alcohol Market Regional Insights
Globally, Asia Pacific dominated the industrial alcohol market with a holding of significant market share in 2021. This is simply attributed to the rising consumption and high production of methyl ethanol in China and large production of ethanol in India. Moreover, the demand for ethanol is expected to grow significantly with the help of rising number of initiatives created by Indian Government for using ethanol as an automotive fuel. With the increase in consumer disposable income and high population base, the need for biofuels is set to grow extensively by 2030 in the regional market.
Furthermore, North America is witnessing the fastest CAGR during the forecast period owing to high production and increase in export by the United States, which is the largest market for ethanol consumption. In addition, the growth in the production levels in the region is majorly driven by export-oriented production of ethanol in the United States to fulfil and cater the global requirement for ethanol over the coming years. Rising consumer awareness regarding concerns associated with fossil fuels on environment is also driving the growth of the industrial alcohol market in the region.
Global Industrial Alcohol Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Industrial Alcohol Market Dynamics
Industrial Alcohol Market Drivers
- Continuously growing adoption of bioethanol and rising technological advancements in developing countries including India, China, and Indonesia are the major factors anticipated to drive growth of the global industrial alcohol market during the forecast period. Moreover, rising awareness and surge in adoption of renewable resources have resulted in high development in bioethanol industry, which helps in reducing pollution levels across the world, further projected to fuel the growth of the global market in the coming years.
Industrial Alcohol Market Restraint
- Rising number of environmental concerns associated with the production of industrial alcohol by fossil fuels such as water depletion and rising pollution are the key factors expected to hamper the growth of the global industrial alcohol market during the forecast period. Several types of toxic chemicals are required in the formulation of alcohol, that releases harmful materials into the ecosystem. This is anticipated to be the major restraining factor for the growth of the market over the coming years.
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Global Industrial Alcohol Market Competitive Landscape
The global industrial alcohol market is fairly fragmented with the presence of several international and regional market players operating around the globe. Major market players are highly implementing of business developing strategies such as collaborations, partnerships, new technology development, strategic mergers, and acquisitions to expand their geographical presence and product offering around the globe.
Industrial Alcohol Market Top Player’s Company Profiles
- Archer Daniels Midland Company
- Cargill, Inc.
- Raízen Energia S.A.
- Green Plains Inc.
- MGP Ingredients, Inc.
- Sigma Aldrich Corporation
- Grain Processing Corporation
- Flint Hills Resources
- The Andersons, Inc.
- LyondellBasell Industries N.V.
- Cristalco SAS
- Tereos S.A.
- Royal Dutch Shell Plc
- BASF SE
- Sasol Limited
- Eastman Chemical Company
- ExxonMobil Corporation
- Valero Energy Corporation
- Johnson Matthey Plc
- Solvay SA
Industrial Alcohol Market Recent Developments
- In September 2022, Greenfield Global is tripling its production capacity for ethanol blends with water-for-injection ("WFI") at its Brookfield, Connecticut plant from a 2,000 gallon tank to just shy of 6,000 gallons to meet increased demand from biopharma customers.
- In August 2022, Western New York Energy completed a $38 million expansion to manufacture high-purity alcohol under the ClearSource brand. WNYE will be able to produce 15 million gallons of alcohol per year thanks to the 6,000-square-foot expansion.
Global Industrial Alcohol Key Market Trends
- Increasing adoption of eco-friendly and safer ethanol production methods coupled with the rising popularity of biofuels are expected to create lucrative growth opportunities for the global market. Moreover, properties such as biodegradable, non-toxic in nature, and easily breakable in harmless substances are other factors driving the growth of the global industrial alcohol market in the last few years. These factors attract consumers to opt for these fuels in place of other fossil fuels, which is propelling the market growth.
Global Industrial Alcohol Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global industrial alcohol market is witnessing a significant growth during the forecast period owing to high technological advancements, easy availability of these fuels, rising per capita income of global consumer, and increased environmental concerns. Moreover, high usage as a solvent, additive foe automotive gasoline, and synthesis of other organic chemicals are other factors anticipated to fuel the growth of the market over the coming years. However, skin rash caused by repeated contact, redness, and impaired judgement are few factors restraining the global demand for industrial alcohol over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 124 billion |
| Market size value in 2031 | USD 301 billion |
| Growth Rate | 10.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Industrial Alcohol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Industrial Alcohol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Industrial Alcohol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Alcohol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Industrial Alcohol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Industrial Alcohol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Industrial Alcohol Market Report Snapshots
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