DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Industrial Alcohol Market by Type (Ethyl, Methyl, Isopropyl, Isobutyl, Benzyl Alcohol), Source (Sugar & Molasses, Corn, Grains, Fossil Fuels), Application (Personal Care, Pharmaceutical, Fuel, Food, Chemical), and Region - Global Forecast to 2022" report to their offering.
The industrial alcohol market is projected to grow at a CAGR of 9.8%, in terms of value, from 2017 to reach a projected value of USD 180.83 Billion by 2022.
The multifunctional nature of industrial alcohol and increase in demand for biofuel are the main factors driving the industrial alcohol market. Increase in awareness with regard to the environment deterioration among the global population also fuels the demand for industrial alcohol.
North America is estimated to be the largest share in terms of value in the global industrial alcohol market in 2017. Positive knowledge of segments create a platform for innovative applications of industrial alcohol, and tapping the emerging markets in China, India, and Thailand leads to growth opportunities in Asia-Pacific.
The leading players that dominated the industrial alcohol market include Cargill (U.S.), Raizen Energia (Brazil), Green Plains Inc. (U.S.), Cristalco (France), and MGP Ingredients (U.S.).
Market Dynamics
Drivers
- Increase in Demand for Bioethanol
- Increasing Use of Alcohol in a Wide Spectrum of Applications
Restraints
- Fluctuating Prices of Raw Material
Opportunities
- Emerging Markets: New Growth Frontiers
- Advent of Greener Ethyl Alcohol Sources
Challenges
- Approval from Various Regulatory Bodies
Trade Analysis
- Export Data Analysis
- Import Data Analysis
Companies Mentioned
- Cargill
- Cristalco
- Flint Hills Resources
- Grain Processing Corporation
- Green Plains Inc.
- Greenfield Specialty Alcohols
- Mgp Ingredients
- Raízen Energia
- Sigma Aldrich
- The Andersons Inc.
For more information about this report visit http://www.researchandmarkets.com/research/hs5spb/industrial
