Global Industrial Alcohol Market Inclinations & Development Status
Highlighted During Forecast Period 2017 2024
The global industrial alcohol market is segmented into product type such as
isopropyl alcohol, isobutyl alcohol, methyl alcohol, benzyl alcohol and ethyl
alcohol. Further, ethyl alcohol segment is anticipated to experience substantial
growth over the forecast period. Wide range application of ethyl alcohol in various
industries such as coating industry and in production of adhesives, cosmetics,
detergents, explosives, inks, hand cream, plastic and textiles are envisioned to
foster the growth of market across all regions.
Global industrial alcohol market is expected to register robust CAGR over the
forecast period. Moreover, the global industrial alcohol market is expected to reach
at notable revenue of USD 181.1 Billion by the end of 2024. The market is expected
to expand on the back of growing industrialization across the globe. Further, rising
utilization of industrial alcohol in end use industries such as personal care,
pharmaceutical, food, petrochemical industry and chemical industryis likely to
drive the growth of Industrial Alcohol Market across the globe.
The sugar & molasses segment by source is likely to contribute significantly in
terms of market share. Further, increasing production of ethanol from sugar cane
molasses is anticipated to foster the growth of global industrial alcohol market in
upcoming years. Apart from this, sugarcanes are being used as a major feed stock
for production of industrial alcohol in countries such as India and Brazil.
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Industrialization
Rapid industrialization in developing countries such as India and China is a key
reason which is increasing the consumption of industrial alcohol. Industrial
alcohol is widely used in development of end use products such as solvents,
vinegar, liquid soaps, detergents, hand sanitizers, coatings (lacquers), pri