Ethyl Alcohol Market 2024-2028: Size and Increasing demand for electric vehicles; growth driven by the Application, Some of key Companies Positioned Strategically

The ethyl alcohol market size by Application (Automotive, Food and beverages, Personal care, Pharmaceutical, and Others) and Geography (North America, South America, Europe, APAC, and Middle East and Africa), is forecast to increase by USD 16941.4 million. The market is expected to grow at a CAGR of   5.28% between 2024 and 2028.

• The shift towards electric vehicles (EVs) represents a significant challenge to the traditional automobile market, fueled by increasing consumer demand for eco-friendly alternatives due to mounting environmental concerns. Notable industry players, such as Opel and Nissan, have responded by ramping up EV production, with Opel initiating manufacturing in Morocco and Nissan investing over USD1.2 billion in the U.K. Furthermore, governments, like that of the UAE, are taking decisive action to promote emission-free public transportation by 2050, aligning with global climate change commitments. This trend is expected to have a substantial impact on the ethanol market, as the demand for fossil fuels continues to decline.
• The Ethyl Alcohol market witnesses robust growth, driven by its extensive application in various industries. Key sectors, including beverage, pharmaceuticals, and fuel industries, significantly contribute to market expansion. Ethyl Alcohol's versatility and cost-effectiveness make it a preferred choice for numerous applications, ensuring its indispensable role in the global industrial landscape.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• ALTO INGREDIENTS Inc.
• Archer Daniels Midland Co.
• BP Plc
• Cargill Inc.
• CropEnergies AG
• GranBio Investimentos SA
• INEOS AG
• JEPSON COMMODITIES
• Jubilant Ingrevia Ltd.
• Kanoria Chemicals and Industries Ltd.
• LyondellBasell Industries N.V.
• Merck KGaA
• Mitsubishi Chemical Group Corp.
• POET LLC
• Sasol Ltd.
• The Andersons Inc.
• Thermo Fisher Scientific Inc.
• Valero Energy Corp.

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