Industrial Alcohol Market 2023: Size, Share, Segments, And Forecast 2032

Industrial Alcohol Market Definition

Industrial alcohol is employed in the production of vaccinations, compound tonics, syrups, tinctures, liniments, and antiseptics, as well as medications such as chloroform, atabrine, and barbiturates. Industrial alcohol refers to distilled ethyl alcohol used in industrial applications. It is majorly used as a primary raw material in the production of chemical compounds such as acetaldehyde, ethyl acetate, acetic acid, and others.

Industrial Alcohol Market Characteristics:

The global industrial alcohol market size grew from $143.77 billion in 2022 to $160.49 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. The industrial alcohol market size is expected to grow to $247.16 billion in 2027 at a CAGR of 11.4%.

Key Market Drivers And Trends

Drivers Trends

The increasing demand for biofuels among end-users is significantly contributing to the growth of the industrial alcohol market.

Technological advancements are the key trend gaining popularity in the industrial alcohol market.

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Industrial Alcohol Global Market Segments:

The report covers the industrial alcohol market’s segmentsBy Source

Isopropyl Alcohol, Methyl Alcohol, Ethyl Alcohol, Isobutyl Alcohol, Benzyl Alcohol

Molasses, Sugar, Grains, Fossil Fuels

Fermentation, Synthetic

Fuel, Chemical Intermediates & Solvent, Pharmaceuticals, Personal care products, Food Ingredients

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