How Has the Ethyl Alcohol And Other Basic Organic Chemical Market Evolved Historically and What is its Current Size?
The ethyl alcohol and other basic organic chemical market has seen considerable growth due to a variety of factors.
• The market size for ethyl alcohol and other fundamental organic chemicals has seen considerable growth over recent years. It is projected to rise from $1421.16 billion in 2024 to $1556.21 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.5%.
Factors contributing to growth in the historical period include industrialization, expansion of the petrochemical industry, consumer product manufacturing, agricultural chemicals, and energy sector demand.
What is the Forecasted Market Size and CAGR for the Ethyl Alcohol And Other Basic Organic Chemical Market?
The ethyl alcohol and other basic organic chemical market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for ethyl alcohol and other basic organic chemicals is predicted to experience significant growth in the forthcoming years. It is set to expand to a considerable $2139.16 billion by 2029, with a compound annual growth rate (CAGR) of 8.3%.
Factors contributing to this growth during the forecast period include the rise of renewable energy and biofuels, environmental regulations, initiatives to promote a circular economy, the adoption of green chemistry principles, as well as health and wellness trends. Key trends projected for the forecast period encompass biobased chemicals, specialty chemicals, sustainable packaging, carbon capture and utilization (ccu), in addition to personal care and cosmetics.
What Key Factors and Trends Are Driving The Growth Ethyl Alcohol And Other Basic Organic Chemical Market?
The rise in alcoholic beverage consumption is predicted to fuel the expansion of the ethyl alcohol and other basic organic chemicals market. Alcoholic beverages suitable for human intake with an alcohol content of 1% or more contribute to this case. Ethyl alcohol, or ethanol, is the main active ingredient in alcoholic beverages. Other elemental organic compounds, such as taste-enhancing flavor molecules and sugars, enrich the overall sensory appeal of alcoholic beverages, making them more enjoyable in terms of taste and aroma. For example, data released by Japan's Kirin Holdings Co. Ltd., a producer of alcohol and non-alcoholic beverages, as well as pharmaceuticals, revealed a surge in global beer consumption of approximately 5.4 million kiloliters in 2022. This increase amounts to around 8.5 billion additional bottles (633 ml each) compared to the previous year. As a result, the escalating patronage of alcoholic drinks is anticipated to boost the market for ethyl alcohol and other basic organic chemicals.
What Are The Market Segments In The Ethyl Alcohol And Other Basic Organic Chemical Market?
The ethyl alcohol and other basic organic chemical market covered in this report is segmented –
1) By Type: Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (Except Resins), Fatty Acids, Gum And Wood Chemicals
2) By Grade: Food Grade, Industrial Grade, Cosmetics Grade
3) By End User Industry: Chemical Industry, Coating And Printing Industry, Electronics Industry, Food And Pharmaceutical Industry, Other End-User Industries
Subsegments:
1) By Synthetic Sweeteners: Aspartame, Sucralose, Saccharin, Acesulfame K
2) By Plasticizers: Phthalate-Based Plasticizers, Non-Phthalate Plasticizers, Bio-Based Plasticizers
3) By Ethyl Alcohol: Synthetic Ethyl Alcohol, Fermented Ethyl Alcohol
4) By Silicone (Except Resins): Silicone Fluids, Silicone Elastomers, Silicone Rubbers
5) By Fatty Acids: Saturated Fatty Acids, Unsaturated Fatty Acids, Essential Fatty Acids
6) By Gum And Wood Chemicals: Gum Rosin, Tall Oil, Wood Tar, Pine Chemicals
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How Are New Trends Impacting The Size Of The Ethyl Alcohol And Other Basic Organic Chemical Market?
Companies in the chemical industry are progressively adopting automation and instrumentation tools to better manage their manufacturing processes. Such devices, including control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters, are instrumental in enhancing operational efficiency in production facilities. A case in point is how Siemens' process instrumentation and gas analytics solutions are leveraged to boost productivity and efficiency during plant operations.
Who Are the Key Players In The Ethyl Alcohol And Other Basic Organic Chemical Market?
Major companies operating in the ethyl alcohol and other basic organic chemical market include:
• Archer-Daniels-Midland Company (ADM)
• Wacker Chemie AG
• Celanese Corporation
• Valero Energy Corp
• Lanxess AG
• Evonik Industries AG
• Kao Corporation
• The Clorox Co
• Eastman Chemical Corporation
• Atul Limited
• HPCL Biofuels Limited
• Advanced Bioenergy LLC
• Aventine Renewable Energy
• Andersons Ethanol Group
• British Petroleum
• Braskem
• Cargill Corporation
• Butamax Advanced Biofuels LLC
• Green Plains Inc.
• Flint Hill Resources LP
• LyondellBasell Industries NV
• INspec Ethylene Oxide and Specialities (INEOS)
• Mitsubishi Chemical Corporation
• Baden Aniline and Soda Factory ( BASF SE)
• DowDuPont Inc.
• PPG Industries Inc.
• Solvay SA
• Huntsman Corporation
• Ashland Global Holdings Inc.
What Are The Regional Insights Into The Ethyl Alcohol And Other Basic Organic Chemical Market?
Asia-Pacific was the largest region in the ethyl alcohol and other basic organic chemical market in 2023. North America was the second-largest region in the ethyl alcohol and other basic organic chemical market. The regions covered in the ethyl alcohol and other basic organic chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
