Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Industrial Alcohol Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
In a comprehensive analysis of the industrial alcohol sector's landscape, a newly released market research publication sheds light on the significant expansion being observed worldwide. Industrial alcohol, characterized by its wide-ranging applications in pharmaceuticals, personal care products, and as a renewable fuel source, continues to demonstrate accelerating market growth with projections signaling robust prospects up to 2024 and beyond.
This new report provides an exhaustive overview of the dynamic industrial alcohol market, incorporating meticulously researched statistics and data to offer a deep insight into the industry. Covering key market segments, major players, and regional analysis, the report offers a granular view of the market trends, drivers, restraints, and opportunities.
The global industrial alcohol market, valued at $159.7 billion in 2023, is projected to reach $178.72 billion by 2024, registering a CAGR of 11.9%. This significant growth trajectory can be primarily attributed to the burgeoning ethanol fuel production, rising demand in the healthcare and pharmaceutical sectors, and the escalating use of industrial alcohol in sanitization efforts.
Key Highlights from the Industrial Alcohol Market Analysis
- Rapid Growth: The market anticipates further expansion to $289.24 billion by 2028, fueled by stakes in renewable energy and sustainable chemical industries.
- Market Drivers: Increasing ethanol applications in fuel additives and hand sanitizers, alongside continuous advancements in distillation and purification techniques.
- Strategic Expansions: Noteworthy industry players are augmenting their project portfolios, aiming to leverage advanced technologies for enhanced profitability.
Moreover, the surge in biofuel production, particularly ethanol as a cleaner alternative to conventional fuels, is a principal force propelling the market forward. The report highlights the US market, where ethanol integration into gasoline has delivered promising results in reducing emissions and curbing energy expenditure.
The pharmaceutical sector is also playing a pivotal role in escalating industrial alcohol consumption. Utilized for extraction and as solvents in medication manufacturing, this market segment has witnessed increased demand, manifesting in surging healthcare expenditures and a focus on preventive care.
Innovations Shaping the Marketplace
Innovation remains a core strand in the industrial alcohol narrative, with top industry contenders developing advanced solutions. Technological enhancements in production processes underpin a trend towards more efficient and sustainable practices. Projects like the conversion of alcohol to jet fuel stand out as trailblazing applications of industrial alcohol, tapping into the need for sustainable aviation solutions.
Market Demography: A Global Perspective
The report includes a detailed geographical analysis, revealing North America as the industrial alcohol market frontrunner in 2023, while Asia-Pacific regions show signs of becoming the fastest-growing market in the forecasted period.
This research encapsulates a thorough market evaluation, focusing on the noteworthy developments and future outlook that will interest stakeholders across the industrial alcohol supply chain. It serves as a critical tool for understanding market dynamics, helping businesses strategize and align their market approaches with emerging opportunities.
The report's findings are based on 'factory gate' value, representing the net sales by manufacturers, and are crucial for companies aiming to strengthen their foothold in the industrial alcohol domain. With a focus on distilled facts and figures, this publication emerges as an indispensable resource for industry professionals seeking a clear window into the rapidly evolving market of industrial alcohol.
A selection of companies mentioned in this report includes
- Cargill Incorporated
- Cristalco SAS
- Raizen Energia SA
- MGP Ingredients Inc.
- Green plains Inc.
- Sigma-Aldrich
- Grain Millers Inc.
- The Andersons Inc.
- BASF SE
- Royal Dutch shell plc
- Exxon mobil corporation
- Univar Solutions
- BIRLA SUGAR
- Valero Energy Corporation
- Flint Hills Resources
- Roquette Freres SA
- Jiangsu Lianhai Biological Technology Co. Ltd.
- Shell Chemicals
- Cosan S.A.
- Celanese Corporation
- Novozymes A/S
- Solvay S.A.
- IG Petrochemicals
- The Andersons Inc.
- Raízen Energia S.A.
- Aemetis Inc.
- Vantage Oleochemicals
- Pannonia Bio
- ACI Alloys Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5uinbt
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