The global Industrial Alcohols market was valued at USD 103.43 billion in 2016 and is projected to reach USD 234.09 billion by 2025, growing at a CAGR of 9.5% from 2017 to 2025.
Industrial alcohols are products that are obtained by distillation and majorly used for research and industrial purposes. The rise in number of alcohol manufacturing plants in emerging countries is a major boost to the market. The rising consumption in personal care products is expected to play a major role in driving future demand.
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1. Market Drivers
1.1 Rising demand for bioethanol
1.2 Growing consumption in emerging markets
2. Market Restraints
2.1 Fluctuating raw material prices
2.2 Regulatory approval from agencies
The global Industrial Alcohols market is segmented on the type, source, application, and region.
1. By Type:
1.1 Methyl Alcohol
1.2 Benzyl Alcohol
1.3 Ethyl Alcohol
1.4 Isobutyl Alcohol
1.5 Isopropyl Alcohol
2. By Source:
2.1 Sugarcane and Molasses
2.4 Fossil Fuels
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3. By Application:
3.1 Food Ingredients
3.2 Chemical Intermediates
3.4 Personal Care Products
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
2. Raizen Energia
4. Green Plains inc.
5. The Andersons Inc.
6. MGP Ingredients
7. Greenfield Specialty Alcohols
8. Grain Processing Corporation
9. Sigma Aldrich
10. Flint Hills Resources
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.