Ethanol (Ethyl Alcohol) Market & Industry Forecast Report, 2020-2027

Ethyl Alcohol Market is anticipated to witness an expansion of 6.4% in the growth rate over the forecast period.


Global Ethyl Alcohol Market

Ethyl Alcohol Market is anticipated to witness an expansion of 6.4% in the growth rate over the forecast period. The rigorous governmental norms to restrict the usage of fossil fuels and the aggravating usage of ethanol to produce and store alcohol have strengthened the market growth.

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Ethyl Alcohol Market Dynamics

Ethanol is an inexhaustible source, and bio-ethanol is extensively used to transport biofuel. The exhaustion of fossil fuels has switched the emphasis towards the utilization of inexhaustible such as biofuels. As per the US Energy Department, a gasoline-ethanol blend that includes nearly 51% to 83% ethanol helps in the reduction of emissions. All these factors are projected to strengthen the market size. The surging demand for household cleaning products and personal care is the primitive force responsible for the growth of the global ethyl alcohol market. Ethanol is widely used in hand sanitizers as it can efficiently kill bacteria. The evolution of the coronavirus crisis has elevated market growth. Moreover, it also serves to be anti-infective and thus is largely used in medicine. For example, Jublilant Ingrevia provides ethanol to various sectors such as paint coatings, pharmaceuticals, food processing, beverages, detergents, and personal care, which is likely to proliferate the market growth.

However, it is easy to substitute ethanol with methanol, as it can be economically produced and has more separating strength with less toxicity than ethanol. These are the significant restraints anticipated to curb the Ethyl Alcohol Market share.

Regional Drivers

By region, North America is expected to seize the highest share and maintain its supremacy over the coming years. The aggravation in demand from the food processing industry is the driving force responsible for the market boom. As per the Ethyl Alcohol Market analysis, ethanol consumption in the USA surged at 13.93 billion. The US ethanol is majorly produced from corn. The prevalence of the leading players, including Valero Energy Corporation, Flint Hills Resources, and Advanced BioEnergy, will also encourage market growth.

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