Global Ethyl Alcohol Market
Global Ethyl Alcohol Market: About this market
Technavio’s ethyl alcohol market analysis considers sales from automotive, food and beverages, pharmaceutical, personal care, and other end-users. Our study also finds the sales of ethyl alcohol in APAC, Europe, North America, South America, and MEA. In 2019, the automotive segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising vehicle production will play a significant role in the automotive segment to maintain its market position. Also, our global ethyl alcohol market report looks at factors such as high availability of feedstock, fluctuating crude oil prices, and increasing demand for ethanol in the food processing industry. However, increasing demand for electric vehicles, health hazards due to consumption of ethyl alcohol, drawbacks of using alcohol as fuel additive may hamper the growth of the ethyl alcohol industry over the forecast period.
Global Ethyl Alcohol Market: Overview
Increasing demand for ethanol in the food processing industry
Ethyl alcohol is used as an intoxicating ingredient in various beverages. It is used both in alcoholic and non-alcoholic beverages. They are used for producing vodka and gin (alcoholic beverages). Further, in non-alcoholic beverages, ethyl alcohol is used as a natural product to extract and concentrate flavors and aromas. These flavors and aromas are used in wine production. This demand for ethanol in the food processing industry will lead to the expansion of the global ethyl alcohol market at a CAGR of over 6% during the forecast period.
Growing demand for ethyl alcohol in the automotive industry
Growing environmental concerns related to pollution in the automotive industry has increased the adoption of renewable fuels. Ethyl alcohol, an organic compound that is used as a fuel additive to reduce harmful gas emissions and increase the efficiency of vehicles. Auto manufacturers are compelled to manufacture lightweight, fuel-efficient, and environment-friendly automobiles by stringent environmental regulations. The increasing vehicle production across the world will drive the use of ethyl alcohol during the forecast period.
For the detailed list of factors that will drive the global ethyl alcohol market during the forecast period 2020-2024, click here.
With the presence of several major players, the global ethyl alcohol market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ethyl alcohol manufacturers, that include Advanced BioEnergy LLC, Archer Daniels Midland Co., BP Plc, Cargill Inc., Green Plains Inc., INEOS Group Holdings SA, LyondellBasell Industries NV, Pacific Ethanol Inc.,Sasol Ltd., Solvay SA, Attis Biofuels, Merck KGaA, Mitsubishi Chemical Holdings Corp. The Andersons Inc.
Also, the ethyl alcohol market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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