Global Industrial Alcohol Market Report and Forecast 2024-2032

Global Industrial Alcohol Market Outlook 

The global industrial alcohol market size attained a value of nearly USD 151.35 billion in 2023. The market is further estimated to grow in the forecast period of 2024-2032 at a CAGR of 7.9% to reach a value of around USD 300.11 billion by 2032.

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North America to Hold a Significant Market Share in Industrial Alcohol

The North American region has witnessed significant growth in the market share of industrial alcohol. This is on account of the vast plantations of ethanol along with increasing production of industrial solvents in the United States from agricultural wastes and algae. The surging adoption of ethanol for conveyance fuel and as a source of octane is further driving the market growth of industrial alcohol across North America. 

Moreover, the Asia Pacific is anticipated to register substantial growth in the global industrial alcohol market on account of the increasing production of biofuel coupled with high ethanol consumption. Owing to the enhanced priority of reduction of greenhouse gas emissions across the globe coupled with lower oil consumption in the Asia Pacific, the market growth of industrial alcohol across the region is likely to fuel over the coming years. Rapid urbanisation and industrial sector development in countries like China and India are further influencing the market growth of the industrial alcohol across the region.

Market Segmentation

Industrial alcohol is an impure ethanol alcohol, that is not safe for human consumption, but is utilised for industrial applications, often as a solvent. It is most commonly available as an ethyl alcohol, completely denatured alcohol, and proprietary solvent blends. It is distilled ethyl alcohol, generally of high proof, produced for purposes other than consumption. 

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By type the industrial alcohol market is divided into: 

• Ethyl Alcohol

• Methyl Alcohol

• Isopropyl

• Isobutyl Alcohol

• Others

On the basis of source, the market can be categorised into:

• Fossil fuels

• Corn

• Grains

• Sugar and Molasses

• Others

Based on purity, the market is segmented into:

• Denatured Alcohol

• Undenatured Alcohol

By functionality, the market is segmented into:

• Antimicrobial Activity

• Fragrant and Flavouring Agents

• Solubility

• Antifreeze

• Flammability and Volatility

On the basis of process, the market is segmented into:

• Fermentation Method

• Synthetic Method

Based on application, the market is categorised into:

• Personal Care

• Food

• Fuels

• Chemical Intermediates

• Pharmaceuticals

• Others

The EMR report looks into the regional markets of industrial alcohol like Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa.

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Growing Demand from the Chemical Industry to Bolster Market Growth of Industrial Alcohol 

The surging demand for industrial alcohol in chemicals and petrochemicals industries due to common uses of the product like cosmetics, cleaners, fuels, pharmaceuticals, textiles, and pharmaceuticals, among others are driving the industrial alcohol market. Industrial alcohols find numerous applications in cosmetics, pharmaceuticals, and paints & coatings because of their multi-functional properties which is further propelling the market growth of industrial alcohol across the globe. 

Going further, the growing industrialisation along with increasing production of ethanol due to the rising demand in various sectors is further expected to fuel the market demand for industrial alcohol during the forecast period. Based on type, the ethyl alcohol segment is holding a significant share in the market growth of industrial alcohol across the globe on account of the surging demand for ethanol from chemical industries. Moreover, the increasing usage of ethanol in petrol engines as a blending fuel for gasoline is further likely to drive the market growth of industrial alcohol.

Key Players in the Global Market for Industrial Alcohol

The report presents a detailed analysis of the following key players in the global industrial alcohol market, looking into their type, market shares, and latest developments like type expansions, plant turnarounds, and mergers and acquisitions:

• Cargill, Incorporated

• Archer Daniels Midland Company

• POET, LLC.

• Valero

• Green Plains Inc.

• The Andersons Inc.

• Grain Millers, Inc.

• Greenfield Global Inc.

• Grain Processing Corporation

• Cristalco

• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report