A
new market intelligence study by Transparency Market Research
presents a detailed overview of the global
alcohol market. The report is titled “Alcohol Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 -
2023.” The report studies the changing market dynamics of the
alcohol industry. It offers a six-year forecast assessed on the basis
of historical figures and present statistics. Graphs, charts, tables,
and statistics have been included wherever required.
Alcohol
is any compound that has a minimum of one hydroxyl (-OH) group
attached to a single bonded alkane. Alcohol of various types is used
across industries for various applications. The market for alcohol is
driven by the high consumption of alcoholic drinks among consumers
across the globe. Apart from its use in alcoholic beverages, alcohol
is used as fuel, solvents, preservatives, antifreeze, and
antiseptics.
Various
methods are used to produce alcohol. They are: Oxo processes,
hydration reactions, and biological fermentation. The types of
alcohol available in markets include butanol, glycol, xylitol,
ethanol, methanol, pentanol, and sorbitol. Of these, ethanol is the
most used alcohol in the world, with a demand that exceeds 100 bn
liters. 80% of the ethanol produced is used as fuel, since it is
considered a renewable fuel with a potential to substitute gasoline.
The demand for ethanol is particularly high in Brazil, Europe, and
the U.S. The demand for ethanol is also expected to pick up in Asia
Pacific in the future. Apart from fuel, ethanol is used as an
antiseptic, in alcoholic beverages, in pharmaceuticals, and also in
cosmetics. The use of ethanol to disinfect the skin before injections
and other invasive procedures is also common. Furthermore, ethanol is
used in hand sanitizers and soaps, thus driving their demand.
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Methanol
is another alcohol type that has witnessed growth. Methanol is used
as an intermediate chemical to produce formaldehyde, which is used in
the pharmaceuticals, resins, wood, and automotive industry. The
methanol market is driven by the expanding horizons of its
application and growth in the end use industries.
The
overall alcohol market is expected to grow rapidly due to the
expanding applications in various industries. The biggest growth
opportunity lies in the use of ethanol as automotive fuel, which is
expected to grow exponentially, thus driving the global alcohol
market.
The
report segments the global alcohol market on the basis of geography
into Asia Pacific, North America, Europe, Latin America, and the
Middle East and Africa. North America is the largest producer of
alcohol. The alcohol market in Asia Pacific is expected to grow
rapidly in the future both in terms of demand and production.
The
key players operating in the global alcohol market have been studied
in the report. They are: Absolute Energy LLC, Methanex Corporation,
Glacial Lakes Energy LLC, and Aventine Renewable Energy-Pekin.
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