Compounds
having at least one hydroxyl (-OH) group attached to a single bonded
alkane is referred to as alcohol. There are numerous types of alcohol
being used in varied applications across industries. Some of the
popular types of alcohol are ethanol, methanol, butanol, pentanol,
ethylene glycol, sorbitol and xylitol among many others. The market
for alcohol is vast and it is used in many applications, the most
common being in alcoholic beverages, as solvents, fuel,
preservatives, antifreeze and antiseptics. Alcohol can be produced by
a variety of methods including oxo processes, hydration reactions and
through biological fermentation.
Ethanol
is one of the most used alcohol type in the world. The global demand
for ethanol exceeds 100 billion liters of which more than 80% are
used as fuel. Ethanol is considered as renewable fuel and a potential
substitute for gasoline. The wide acceptance of ethanol fuel is the
driver for this market. The demand for ethanol as fuel is
particularly high in the U.S, Europe and Brazil. The demand is
expected to pick up in Asia Pacific as well. Ethanol is also used in
alcoholic beverages, in pharmaceuticals, cosmetics and other
industrial applications. Ethanol is used as an antiseptic to
disinfect the skin before injections and other invasive procedures.
It is also commonly used as soaps and hand sanitizers due to its
volatile nature.
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Methanol
is another important type of alcohol, which has witnessed
extraordinary demand growth from several sectors. It is commonly used
as an intermediate to produce formaldehyde used in automotive,
pharmaceutical, resins and wood industry. It is also the intermediate
chemical for other chemicals such as methyl methacrylate, methyl
chloride, dimethyl terepthalate, and acetic acid among others. Methyl
methacrylate is used to manufacture LED and LCD of electronic devices
and as cement in total hip replacements and total knee replacements.
Methyl chloride is primarily used to manufacture silicone which is
used widely to produce adhesives, sealants, lubricants and in certain
medical applications. Dimethyl terephthalate is used to manufacture
recyclable plastic bottles and acetic acid is used in a wide array of
industries such as paints and coatings, adhesives and fleece. The
methanol market is driven by the expanding horizons of its
application and high growth in the end use industries. Most of the
other alcohols are used in different industries as feed stocks.
Ethylene glycol finds application as antifreeze in low temperature
regions and applications.
The
overall alcohol market is expected to grow at a fast pace, due to its
application in so many industries in different forms. The main
opportunity lies with ethanol due to its application as automotive
fuel which is expected to grow exponentially with growing automotive
industry. Alcoholic drinks are another favorable market for ethanol,
as it is the main psychoactive constituent in the beverages. The
global alcoholic beverage demand has increased substantially over the
past few years and is expected to rise especially in Asia Pacific
region.
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North
America is the largest producer of alcohol, followed by South
America, Europe and Asia Pacific. The U.S. and Brazil are the largest
producers of ethanol, which constitute the bulk of alcohol demand.
Asia Pacific region however is growing rapidly both in terms of
demand and production.
Some
of the key players operating in the alcohol market are Methanex
Corporation, Aventine Renewable Energy-Pekin, Absolute Energy LLC,
and Glacial Lakes Energy LLC among many others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons
for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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