Ethyl Alcohol Market Size to grow by USD 16941.4 million between 2024-2028
According to a research report “ Ethyl Alcohol Market” by Application (Automotive, Food and beverages, Personal care, Pharmaceutical, Others) Geography (North America, South America, Europe, APAC, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 16941.4 million, at a CAGR of 5.28% during the forecast period. In the global business landscape, the uncertainty of fuel prices, energy security concerns, and increasing emission levels have fueled a significant interest in alternative fuels. Ethyl alcohol, a low-carbon alternative, is gaining traction due to its potential to reduce greenhouse gas emissions. With the gradual depletion of fossil fuel reserves, ethyl alcohol, produced through the fermentation of feedstock like corn using enzymes such as yeast, is becoming increasingly valuable. High-demand industries in countries like India, China, and Brazil, including automotive, food and beverages, pharmaceutical, and personal care, are major consumers due to the abundant availability of feedstock.
Browse market data tables, figures, and in-depth TOC on “Ethyl Alcohol Market” by Application (Automotive, Food and beverages, Personal care, Pharmaceutical, Others) Geography (North America, South America, Europe, APAC, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the Automotive segment is projected to dominate the market size in 2024
ai_market_segmentation_by
By Geography, North America segment is expected to hold the largest market size for the year 2024
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.
North America is forecasted to hold the largest market size by region in 2024
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.
The Ethyl Alcohol Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Ethyl Alcohol market plays a significant role in various sectors, including the transportation industry and food processing. Ethyl Alcohol, also known as Ethanol, is a popular biofuel and industrial solvent. It is produced from both biobased and synthetic sources, with Biobased Ethanol derived from renewable feedstocks such as corn, sugarcane, and wheat. The Renewable Fuels Association reports that Bioethanol is an essential alternative to fossil fuels like Crude Oil and Natural Gas. In the transportation sector, Ethanol is used as a fuel additive in Gasoline and as a replacement for Petrol in some countries. The Denatured Alcohol segment and Grain-based segment are the major contributors to the Ethyl Alcohol market. The Food processing industry also utilizes Ethyl Alcohol as a solvent and in the production of Alcoholic beverages like Beer and Biofuel. The current scenario has led to an increased demand for Ethyl Alcohol due to its use in the production of Alcohol-based hand sanitizers in response to the Coronavirus disease. However, the production of Ethyl Alcohol results in Carbon emissions, which is a concern for the Aviation industry and other sectors striving for sustainability.
Market Research Overview
The Ethyl Alcohol market encompasses various industries, including the production of hand sanitizers in response to the Coronavirus pandemic. Ethyl Alcohol is a crucial component in the manufacturing of disinfectants and personal care products. In the beverage sector, Ethyl Alcohol is used in the production of beer, wine, and distilled spirits. The chemicals industry utilizes Ethyl Alcohol as a raw material in paints and coatings, as well as in the production of industrial solvents. The transportation sector relies on Ethyl Alcohol as a biofuel, with significant production capacity in the Midwest, particularly in the United States. Renewable Fuels Association members, such as Valero, ADM, Poet Biorefining, and others, have expanded Ethanol production to meet the demand for ethanol-blended fuels. Stringent regulations govern the production and use of Ethyl Alcohol, particularly in the denatured alcohol segment, which is used as a fuel additive and in industrial applications. The market also includes sugar and molasses-based and grain-based sources of Ethyl Alcohol. Companies like Aventine Renewable Energy, Braskem, and Precedence Statistics are key players in the Ethyl Alcohol market. Ethyl Alcohol is produced from various sources, including fungi, viruses, and bacteria. It is also derived from crude oil and natural gas, making it an essential component in the fossil fuels industry. The automotive sectors and food processing industries also utilize Ethyl Alcohol as a raw material.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
