Industrial alcohol is a distilled form of ethyl alcohol that is produced and sold for varied beverage purposes. Industrial alcohol is usually distributed in the form of pure ethyl alcohol. Pure ethyl alcohol is used in the chemical laboratories or industries for the purpose of sanitizing, cleaning and other solvent usage. Moreover, this type of ethyl alcohol is also used in medicines, as food ingredient, flavoring and other cosmetic products. In medical sector, industrial alcohol is used in the process of manufacturing vaccines, syrups and antiseptics. Ethyl alcohol, popularly termed Ethanol is volatile, flammable and colorless liquid and is the most widely used biofuel globally. The production of industrial alcohol is through fermentation and distillation process that requires a certain temperature of heat as energy to develop. Initially industrial alcohol out broke from the growth of alcoholic beverages but now a days it is used as a solvent and synthesizing other chemicals.
Industrial alcohol has been anticipated to have a substantial growth in the market. It has proven itself to provide good number of benefits to the manufacturers and other consumer in the market. The multinational character of industrial alcohol along with its usage in the biofuel has been the major driver in the market. The use of bioethanol in the household and other industrial purposes are saving the planet from harsh situation like extraction of fuel from the sea among others. Moreover, its applications in various industries have aided in maintaining the demand for industrial alcohol in the global market. Additionally, the ethyl alcohol also has cosmetic, pharmaceutical and chemical uses. Here, the industrial alcohol is completely denatured before being added to the cosmetic products, detergents, solvents and others. Nevertheless, this market also faces certain demerits such as the fluctuating prices of raw materials to develop the industrial alcohol.
The global industrial alcohol market is multidimensional and can be segmented into types and applications. By types the market can be further bifurcated into ethyl alcohol, methyl alcohol, isopropyl alcohol, benzyl alcohol and others. Ethyl alcohol is the largest used industrial alcohol amongst all these and is used in more applications than any other type of industrial alcohol. Furthermore, by application industrial alcohol can be segmented on the basis of fuel, chemical intermediates, pharmaceuticals, personal care products, food ingredients and others. The use of industrial alcohol from fossil fuels has recently witnessed an exponential increase. The demand for biofuels have increased due to the development of flex cars in order to boost the use of it and have a sustainable environment.
Geographically, industrial alcohol is widely used in almost regions across the globe. North America, Europe, Asia-Pacific, Latin America and Middle East and Africa all use industrial alcohol some way or the other. Among these, North America is predicted to hold the largest market share in terms of value. Moreover, the use of industrial alcohol is can create a platform for other innovative applications driving its growth in the emerging markets like Asia, Middle East and Africa.
The major vendors in the market for industrial alcohol are Cargill, RaízenEnergia, Green Plains Inc., Cristalco, MGP Ingredients, The Andersons Inc., Grain Processing Corporation, Greenfield Specialty Alcohols, Flint Hills Resources and Sigma Aldrich among others. These companies are contributing significantly in order to expedite the growth of industrial alcohol in the market. Moreover, these companies are constantly conducting market research and exploring regions by the method of acquisitions and other types of partnerships through specific market strategies. Due to the large investment in research and development activities, the organizations are constantly in a mode of enhancing their production capacities that is aiding the demand for industrial alcohol in the global market.
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