The ethyl alcohol market consists of sales of ethyl alcohol and related services. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages like beer, wine or brandy, and as a gasoline additive in the automotive industry. Ethyl alcohol also known as ethanol or grain alcohol is a volatile, flammable, colorless liquid industrially used as a chemical intermediate to make pharmaceutical ingredients or as a solvent.
Global Ethyl Alcohol Market Size And Drivers:
The global ethyl alcohol market is expected to grow from $457.43 billion in 2020 to $489.49 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $585.47 billion in 2025 at a CAGR of 5%. Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market.
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Trends In The Global Ethyl Alcohol Market
Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by dry milling process. In this process, corn kernel is prepared into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, global rising demand for oil, and negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline. The US Department of Agriculture (USDA) predicts that during the 2020-21 crop season, 5.2 billion hectares of corn will go to ethanol generation, up 250 million hectares compared to the approximate amount of corn which moved to ethanol processing during the 2019-20 crop season. Additionally, the U.S and Brazil produce 85% of the global ethanol from corn. Production of ethanol from corn helps in reducing greenhouse gases by 18% and production of ethanol from sugar helps in reducing greenhouse gases by 90%. Production of ethanol from corn and sugar offers several advantages such as reduced greenhouse gases and decreases the dependency of foreign oil.
Global Ethyl Alcohol Market Segments:
The global ethyl alcohol market is further segmented –
By Type: Synthetic, Fermented
By Application: Industrial Solvent, Fuel/Fuel Additive, Bactericide/Disinfectant, Beverages, Personal Care, Other Applications
By End Use Industry: Automotive, Food and Beverages, Pharmaceutical, Personal Care, Others
By Geography: The global ethyl alcohol market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Ethyl Alcohol Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ethyl alcohol market overviews, analyzes and forecasts market size and growth for the global ethyl alcohol market, ethyl alcohol market share, ethyl alcohol market players, ethyl alcohol market segments and geographies, ethyl alcohol market’s leading competitors’ revenues, profiles and market shares. The ethyl alcohol market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
