Growth in demand for bioethanol drives market for industrial alcohol
by Mit K. SEOThe
industrial alcohol market is estimated to reach USD 93.3 billion in 2020 and is
projected to account for USD 112. 0 billion by 2025, recording a CAGR of 3.7%
during the forecast period.
Environmental
concerns related to the use of fossil fuels leading to greenhouse gas emissions
drive the usage of ethyl alcohol as a blend in transportation fuel. Sugarcane&bagasse,
corn and other grains are used as a major source of industrial alcohol
manufacturing. However, the use of fossil fuel is increasing for production of
industrial alcohol. There is a major contribution for corn production is done
by North America and South America where countries like the US produce and
export corn for the production of industrial alcohol.
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Based ontype,the
ethyl alcoholindustrial alcoholsegment accounts for the largest share in the industrial
alcoholmarket in 2019. Sales of ethyl alcohol is on a rise due to the wide
applications of food grade and fuel grade ethyl alcohol. There is a rise in fuel grade ethyl alcohol
used as a blend in transportation fuel across various geographies such as
Brazil, US, India and Argentina. Urbanization has also increased the sales of food
grade ethyl alcohol used in alcoholic beverages.
Based onapplication,
the fuelsegment accounted for the largest share in the industrial alcoholmarket
in 2019.Fuel is the major segment contributing to the markets of all the
regions across the globe. In 2018, the US consumed around 54.43 billion litres
of ethanol, which accounted for almost 10% of the total motor oil consumed by
the country. Automobile manufacturers are continuously developing flex-fuel
cars and hybrid cars to enable car owners to use higher blends of ethanol, such
as E85 and E100.
Based on source,the
fossil fuelsegment accounts for the largest share in the industrial alcohol
market in 2019.Coal, natural gas, petroleum, and petroleum products are the
fossil fuels used for the production industrial alcohol. Apart from ethyl
alcohol, other types of alcohol produced by fractionating petroleum are methyl
alcohol, isopropyl alcohol, and isobutyl alcohol, which find applications in
varied industries. Petroleum-based alcohol manufacturing is cost-effective and
is produced in a single-step manufacturing process. A rise in the consumption of
petroleum-based alcohols is expected due to its increasing demand in industrial
& chemical applications such as paints, solvents, varnishes, detergents,
and cosmetics. The Sugarcane & bagasse segment also holds a strong
contribution to the industrial alcohol market by source.
However,
grains and corn segment is also rising due to use of such sources across
various geographies. Cereals and grains include wheat, corn, barley, and rice
crops. Countries such as Brazil and the US are projected to be the key revenue
generators for cereals, as they are ranked among the largest producers and
exporters of corn at a global level.With respect to wheat, sorghum, and other
ethyl alcohol grains, the Asia Pacific region, especially China and India, is
the major producer of grains; hence, Asia Pacific is seen to occupy the major
share of the market.
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North
America was the largest market for industrial alcoholin 2019, followed by Europe.
The growth of the market in the region is backed by the US, which is among the
largest producers of corn at a global level. Due to these factors, the demand
for industrial alcohol remain high in this region.
Inoculantmanufacturers are focusing on expanding their consumer base in the market. Leading players operating in the industrial alcoholmarket includeCargill (US), Raizen Energia (Brazil), Green Plains Inc (US), Cristalco (France) and MGP Ingredients (US). Other players include, The Andersons Inc (US), Sigma-Aldrich (US), Grain processing Corporation (U.S.US), Greenfield Global Inc. Specialty Alcohols (Canada), and Flint Hills Resources (US)., Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), Eastman Chemical Company (US), Dow Chemical Company (US), LyondellBasell Industries (Netherlands), Linde plc (Ireland), EcoLab (US), Univar Solutions (US), Archer Daniels Midland (ADM) (US), and Wilmar International (Singapore).
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Created on Sep 2nd 2020 09:04. Viewed 332 times.