Allied Market Research adds “Industrial Alcohols Market” new report to its research database. The report provides a comprehensive analysis of current & future trends and emerging avenues for the growth of this market globally.
The major companies profiled in the report include Cargill Inc., MGP Ingredients Inc., Green Plains Inc., Birla Sugar, Cristalco, Greenfield Specialty Alcohols, Flint Hills Resources, Sigma Aldrich, The Andersons Inc., and BASF SE.
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Industrial alcohol is used as a reagent as well as a solvent, and is manufactured and sold in applications other than beverages, such as the pharmaceutical, personal care, energy sector, and chemical industries. Ethanol, a type of industrial alcohol, is also called as ethyl alcohol, pure alcohol, grain alcohol, or drinking alcohol. It is a volatile, flammable, and colorless liquid obtained from molasses. Moreover, the government of the developing countries have mandated blending of petrol with 5% ethanol, which in turn is expected to boost the fuel the demand for ethanol in the transportation industry.
At present, the global industrial alcohol market registers significant growth, owing to high demand for biofuels. Moreover, ethyl alcohol, methyl alcohol, benzyl alcohol and isobutyl alcohol are widely used in the fuel and energy sector due to the functional properties of alcohols, such as high-octane number and flammability characteristics. In addition, rapid adoption of biofuel and growth in awareness of deteriorating environment quality drive the demand for industrial alcohols in the fuel sector. Moreover, increase in environmental concerns, massive government support for the production of bioethanol in the developed countries, and emerging applications of alcohols in various end-use industries augment the market growth. Furthermore, the utilization of better, low-cost feedstocks create opportunities for advanced developments of industrial alcohols; thereby driving the demand for alcohol-based products. However, fluctuating prices of raw materials are expected to hinder the market growth.
The grains segment is expected to account for nearly half of the global market, in 2016. Moreover, the grains segment has witnessed strong demand in countries in the forecasted years, such as U.S., UK, and France, owing to its rapid production of alcohols from corn. Corn, wheat, and barley are extensively utilized in these countries for producing bioethanol for industrial purposes. Moreover, increase in the number of distilleries has boosted the use of these raw materials for production of fine-grade ethanol for potable purposes (for beverage purposes).
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