Global Industrial Alcohol Market

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 News

  • 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.
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FAQs

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).

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. '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'

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.

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.

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.

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Global Industrial Alcohol Market

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