Industrial Alcohol Market Future Aspect Analysis and Current Trends

Industrial Alcohol Market

The global industrial alcohol market size was valued at USD 132.5 billion in 2022 and is expected to grow at a CAGR of 8.5% over the forecast period.

By combining and altering chemicals with natural gas and petroleum products, industrial alcohols are produced. They typically range from isopropanol, methanol, and glycerol to pure ethyl alcohol. Ethyl alcohol is one of them and is used in the food and beverage (F&B) business to make alcoholic drinks because it is flammable, volatile, clear, and colourless with a distinct smell. Due to its anti-bacterial qualities, isopropanol is also frequently used in hand wipes, cleaners, hand sanitizers, and spray-in-air or ultrasonic products. A variety of reliable, high-quality, non-genetically modified organisms (GMO), organic, and other specialised alcohols are now being offered by a number of manufacturers.

Products like butanol, denatured ethanol, heptanol, and others find use in a variety of industries, including food and beverage, clothing, chemical research, building paints, cosmetics, and many more.

Applications from such a wide range of sectors make the market inclusive and enable it to branch out into specific niches. Vendor businesses do this to make their product applications particular. For instance, industrial alcohol introduced by manufacturers for a chemical research programme would be thoroughly proofed and concentrated to provide good reaction and precise outcomes.

The market for industrial alcohol has expanded as a result of rising alcohol consumption as a beverage and its use in a variety of foods, including cakes and other desserts.

In addition, highly concentrated alcohol has been used by the paint industry to create paints that remain bacterium-free and shine more than other paints. These paints range from metal paint to paint for walls.

Industrial alcohol is used by garment companies that use leather to clean the leather during processing and product creation. As the alcohol eliminates the micronemes and removes the carbon from the product, it gives the finished product an added shine.

While the majority of producers of industrial alcohol are expanding at a healthy rate, the con sector will rule the market in 2022 with a 30.2% share.

The market for industrial alcohol has expanded along with rising alternative fuel demand and rising petrochemical demand. Industrial alcohols are employed in many different industries, including as paints and coatings, pharmaceuticals, and cosmetics, due to their versatility. Methanol, benzyl alcohol, and isopropyl alcohol are a few examples of alcohols that are utilised in the creation of meals, flavourings, cosmetics, and adhesives. These alcohols’ distinctive qualities, such as their high octane number and enhanced flammability, increase the need for organic solvents, which fuels the market’s expansion.

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Covid-19 Impact on Industrial Alcohol

The COVID-19 Outbreak had some impact on the industrial alcoholic beverage sector, similar to other businesses. The production of industrial alcohol has been disrupted by the pandemic-related supply chain disruption. However, due to its antiseptic properties, industrial alcohol is in high demand in the pharmaceutical and medical industries, and this demand is anticipated to grow over the projection period.

Industrial Alcohol Market – Segmentation

Industrial Alcohol Market on the basis of product, the market is fragmented into:
• Ethyl Alcohol
• Methyl Alcohol
• Isopropyl Alcohol
• Isobutyl Alcohol
• Others

Industrial Alcohol Market on the basis of source, the market is categorized into:
• Grains
• Sugar & Molasses
• Corn
• Fossil Fuels
• Others

Industrial Alcohol Market on the basis of Application, the market is classified into:
• Food Ingredient
• Transportation Fuel & Fuel Additives
• Chemical Intermediates
• Pharmaceutical
• Personal Care
• Detergent & Cleaning Chemicals
• Others

Industrial Alcohol Market – Key Market players
The major players in the market are
• Cargill Inc.
• Cristalco SAS
• MGP Ingredients Incorporated
• Grain Millers Inc.
• The Andersons Inc.

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