NEWARK, Del, July 27, 2022 (GLOBE NEWSWIRE) -- The global industrial alcohol market is expected to witness growth at a CAGR of 7.6% in the forecast period (2022-2032) and is likely to be valued at US$ 194.7 Bn by 2032.
Alcohol-based sanitizers are considered to be powerful cleaning agents that are used in a wide range of industries to disinfect machinery and equipment. Increasing consumer preference for sanitizers is set to boost growth in the global industrial alcohol market.
Rising use of alcohol-based disinfectants in the healthcare sector to clean medical devices owing to their high effectiveness in killing a wide range of microorganisms is anticipated to drive growth. They are also non-toxic and simple to use, thereby making them ideal for utilization in medical settings.
Endoscope disinfection is one of the most common uses of alcohol-based disinfectants in the healthcare sector. Cleaning and disinfecting respiratory therapy equipment that is frequently contaminated with various microorganisms is another vital application of industrial alcohol. Alcohol-based disinfectants can be used to kill microorganisms, thereby preventing the spread of infections.
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Key Takeaways: Industrial Alcohol Market
- The industrial alcohol market is expected to expand at a CAGR of 7.6% over the forecast period.
- By source, the corn segment is set to dominate the market by holding around 30.2% of share and is expected to grow at a CAGR of 4.2% over the forecast period.
- Based on product type, the ethyl alcohol segment is likely to lead the industrial alcohol market by holding more than 31.2% of share in 2022.
- In terms of application, the transportation fuel & fuel additives segment is anticipated to generate 26.7% of share in 2022.
- The U.S. industrial alcohol market currently holds more than 75.7% of share in North America.
“Increasing adoption of bioethanol as a transportation fuel across the globe to reduce emissions of carbon dioxide in the atmosphere and promote sustainability is likely to drive the global industrial alcohol market,” says a Future Market Insights analyst.
Competitive Landscape: Industrial Alcohol Market
Key manufacturers in the global industrial alcohol market are mainly focusing on research & development activities in order to come up with innovative and unique product offerings. In addition to that, key players are focusing on mergers, acquisitions, and joint ventures to expand their geographic presence, as well as their existing production capacities.
- In July 2020, Green Plains Wood River LLC, a Green Plains Inc. subsidiary, announced the installation of a separate 25-million-gallon facility to produce Food Chemicals Codex (FCC) grade alcohol for export and domestic markets. It has plans to expand the production process to manufacture United States Pharmacopeia (USP) grade alcohol within the next few months.
Key Companies Profiled in Industrial Alcohol Market are Cargill Inc., Archer-Daniels-Midland Company, Green Plains Inc., Grain Millers Inc., Willmar Group, MGP Ingredients, Inc., Cristalco, Royal Dutch Shell Plc, Raizen Energia, GREENFIELD SPECIALTY ALCOHOLS
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More Valuable Insights on Industrial Alcohol Market
Future Market Insights, in its new report, offers an impartial analysis of the global industrial alcohol market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on source (bagasse & sugarcane, molasses, grains, corn, fossil fuels, others), product type (ethyl alcohol, isopropyl alcohol, isobutyl alcohol, methyl alcohol, others), (pharmaceutical, transportation fuel & fuel additives, chemical intermediates, food ingredient, personal care, detergent & cleaning chemicals, others), and processing method (fermentation, synthetic) across seven major regions of the world.
Industrial Alcohol Market Outlook by Category
By Source:
- Bagasse & Sugarcane
- Molasses
- Grains
- Corn
- Fossil Fuels
- Others
By Product Type:
- Ethyl Alcohol
- Isopropyl Alcohol
- Isobutyl Alcohol
- Methyl Alcohol
- Others
By Application:
- Pharmaceutical
- Transportation Fuel & Fuel Additives
- Chemical Intermediates
- Food Ingredient
- Personal Care
- Detergent & Cleaning Chemicals
- Others
By Processing Method:
- Fermentation
- Synthetic
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About Food & Beverage Division at Future Market Insights
The food & beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain
India Alcohol Market Size: India alcohol market is predicted to record at a CAGR of 7.4%, amassing US$ 68 Bn by the end of 2026.
Wine Market Share: Wine market is estimated to be valued at US$ 513.8 Bn in 2022 and is projected to reach US$ 846.3 Bn by 2032.
Food Grade Alcohol Market Trends: Food Grade Alcohol market size is estimated to be valued at USD 4.0 billion in 2022 and is projected to reach USD 6.0 billion by 2032
Sugar Alcohol Market Demand: Sugar alcohol market is expected to surpass a billion-dollar valuation, rising at a steady CAGR through the forecast period from 2020 – 2030.
Grain Alcohol Market Overview: Grain alcohol market size is expected to be valued at US$ 15.6 Bn in 2022 and is poised to expand at a CAGR of 4.2% from 2022 to 2032.
Baking Soda Substitute Market Forecast: Baking soda substitute market is expected to reach a market valuation of US$ 4.1 Bn by 2022, accelerating at a CAGR of 6% during the forecast period (2022-2032)
Frozen Pet Food Market Value: Frozen pet food market is expected to reach market valuation of US$ 14 Bn by 2022, with demand increasing at a CAGR of 5.1% over the assessment period.
Water Enhancers Market Analysis: Water enhancers market is expected to reach a valuation of US$ 1.6 Bn by 2022, accelerating at a CAGR of 9.5% during 2022-2032. The market is set to reach US$ 4 Bn in 2032.
Banana Milk Market Sales: Banana milk market is expected to reach a market valuation of US$ 29.4 Mn in 2022, with demand increasing at a CAGR of 5.6% over the forecast period.
Fermented Foods and Beverages Market Growth: Fermented foods and beverages market size reached US$ 575.6 Bn in 2022 and is projected to grow at a CAGR of 5.6% during the forecast period, totaling around US$ 989.2 Bn by 2032.
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