Industrial alcohols are a variety of distillates that are used for a wide range of purposes in industries like cosmetics, pharmaceuticals, and paints & coatings. Ethyl alcohol, which is a key ingredient of these products, is derived from a variety of sources. For example, it can be produced from corn or molasses or a combination of both. Other types of industrial alcohols include methyl alcohol, isopropyl, and isobutyl. These alcohols are used as solvents in many products. They are also used as fuel for ethanol-based vehicles and to help in the creation of biofuels that can be burned without damaging the environment.
Market Dynamics:
The global industrial alcohols market has experienced a significant rise in demand from the end use industries since the recent past. The demand is driven by several factors such as growing consumer awareness regarding maintaining a hygienic environment and rising demand for cosmetic products. The emergence of new and advanced drugs has led to the need for high-grade alcohols that are safe to use as raw materials for producing medicines. In addition, the demand for industrial alcohol is also driven by the growing need for ethanol fuel.
On the other hand, increasing price of raw materials is expected to hamper the market growth.
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