Dublin, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The "Ethyl Alcohol Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The ethyl alcohol market size has grown strongly in recent years. It will grow from $561.68 billion in 2023 to $601.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The ethyl alcohol market size is expected to see strong growth in the next few years. It will grow to $785.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
The historical growth of the ethyl alcohol market can be attributed to various key factors, including the demand for alcoholic beverages, the pharmaceutical and healthcare sector, industrial and chemical manufacturing, and the personal care and cosmetics industry. These industries played significant roles in driving growth during that period.
In 2023, Asia-Pacific emerged as the largest region in the ethyl alcohol market, with North America being the second-largest region. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The forecasted growth in the ethyl alcohol market can be linked to several driving factors, such as the expansion of renewable energy and biofuels, continued growth in the pharmaceutical and healthcare sectors, innovations in chemical manufacturing, and a heightened focus on sustainable packaging solutions.
Additionally, several notable trends are expected to shape the forecasted period, including the adoption of bio-based ethyl alcohol, the development of advanced pharmaceutical formulations, the implementation of circular economy initiatives, and the integration of digital transformation in ethyl alcohol production processes. These trends are expected to have a significant impact on business operations and opportunities in the industry during the forecasted timeframe.
The growing demand for ethanol in the food processing sector is a major driver of the ethyl alcohol market's expansion. Ethyl alcohol is a crucial component in the production of alcoholic and non-alcoholic beverages, including popular choices like vodka and gin. It also finds application as a natural additive in non-alcoholic beverages. The food processing industry is experiencing substantial growth, driven by increasing consumer demand for ready-to-eat, frozen, and packaged foods.
This increased demand is a result of population growth through natural births and migrations, leading to higher production and a surge in the requirement for ethanol in the industry. The growing appetite for ethanol in the food processing sector is expected to drive the global ethyl alcohol market's expansion.
Furthermore, the ethyl alcohol market is set for substantial growth, primarily driven by the increasing demand for personal care products. Companies are focusing on ethanol production derived from corn and sugar within the ethyl alcohol market, driven by factors such as the demand for liquid fuels in the transportation sector, the global need for oil, and concerns about the environmental impact of global warming.
Prominent companies in the ethyl alcohol market are also emphasizing technological innovation, particularly in sustainable aviation fuel (SAF) technology, to maintain a competitive edge. SAF technology involves developing and producing aviation fuels with a lower carbon footprint compared to conventional aviation fuels derived from fossil sources.
Major companies operating in the ethyl alcohol market include
- Advanced Bioenergy LLC
- Andersons Ethanol Group
- Archer Daniels Midland Company
- Braskem SA
- BP plc
- Cargill Corporation
- Green Plains Inc.
- Kirin Holding Company Limited
- LyondellBasell Industries NV
- Mitsubishi Chemical Corporation
- Alto Ingredients Inc.
- Saudi Arabia's Basic Industries Corporation
- Sasol Limited
- Solvay Group
- Valero Energy Corporation
- INEOS Group Holdings SA
- Merck Millipore
- Midwest Renewable Energy LLC
- ChemCeed LLC
- Vigon International, an Azelis Company
- CJ Chemicals LLC
- Maxill Inc.
- Barentz BV
- SAE International
- Exxon Mobil Corporation
- Vinmar International Ltd.
- Ethanol US LLC
- Aemetis Inc.
- Greenfield Global Inc.
- ECSA Chemicals SA
- Penta Manufacturing Company
- Sigma-Aldrich Co. LLC
- Spectrum Chemical Manufacturing Corp.
- Alfa Aesar
- Fisher Scientific International Inc.
Key Topics Covered:
1. Executive Summary
2. Ethyl Alcohol Market Characteristics
3. Ethyl Alcohol Market Trends And Strategies
4. Ethyl Alcohol Market - Macro Economic Scenario
4.1. Impact Of High Inflation On Online Therapy Services Market
4.2. Ukraine-Russia War Impact On Online Therapy Services Market
4.3. COVID-19 Impact On Online Therapy Services Market
5. Global Ethyl Alcohol Market Size and Growth
5.1. Global Ethyl Alcohol Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Ethyl Alcohol Historic Market Size and Growth, 2018 2023, Value ($ Billion)
5.3. Global Ethyl Alcohol Forecast Market Size and Growth, 2023 2028, 2033F, Value ($ Billion)
6. Ethyl Alcohol Market Segmentation
6.1. Global Ethyl Alcohol Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Synthetic
- Fermented
6.2. Global Ethyl Alcohol Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Industrial Solvent
- Fuel Or Fuel Additive
- Bacteriacide Or Disinfectant
- Beverages
- Personal Care
- Other Applications
6.3. Global Ethyl Alcohol Market, Segmentation By End User Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Automotive
- Food and Beverages
- Pharmaceutical
- Personal Care
- Other End Use Industries
7. Ethyl Alcohol Market Regional And Country Analysis
7.1. Global Ethyl Alcohol Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Ethyl Alcohol Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/56cibo
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