Owing
to its application in numerous end-use industries, the global alcohol
market is anticipated to witness strong growth over the forthcoming
years, states Transparency Market Research (TMR) in a research
report. The report is titled, “Alcohol Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015–2023.”
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exclusive Sample of this
report:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6032
According
to the report, the factor behind the rising inclination of consumers
towards alcohol is the growing disposable income of consumers across
the world and enhanced standards of living. The growing popularity of
social drinking, coupled with the rise in the number of women
consuming alcohol, are factors that are likely to positively impact
the growth of the global alcohol market. The consumption of alcohol
has significantly increased in Asia Pacific owing to its high demand
in India. The demand for premium liquor is high among Indian
consumers due to a preference for foreign brands.
The
most popular varieties of alcohol used in various industries are
xylitol, sorbitol, ethylene glycol, pentanol, butanol, methanol, and
ethanol. The most common applications of alcohol are antiseptics,
antifreeze, preservatives, fuel, and solvents. The types of methods
used for manufacturing alcohol includes biological fermentation,
hydration reactions, and oxo processes.
The
most commonly used alcohol across the globe is ethanol. The demand
for ethanol globally is over 10 billion liters every year, out of
which, 80% is used as fuel. Ethanol is being considered as a
potential alternative to gasoline as it is also a renewable fuel. The
prime driver of the market for ethanol is its wide acceptance. The
leading regions in terms of consumption of ethanol are Brazil,
Europe, and the U.S. However, Asia Pacific is expected to give tough
competition to these regions in terms of growth. Some industrial
applications of ethanol are cosmetics, pharmaceuticals, and alcoholic
beverages. It is also employed in the production of hand sanitizers
and soaps.
Methanol
is also one of the most commonly used alcohol types in the world. It
is mainly used to manufacture formaldehyde, which used in the wood,
resins, pharmaceutical, and automotive industries. It is also used as
a substitute for chemicals such as acetic acid, dimethyl
terephthalate, methyl chloride, and methyl methacrylate.
The
report presents an in-depth analysis of the growth trajectory of the
global
alcohol market. It highlights the factors that are likely to
positively or negatively affect the growth of the market. The study
also presents information on the projected revenue and volume growth
of the market. It also presents insights into the key strategies,
shares, and products of the leading companies operating in the global
alcohol market.
Region-wise, North America led the market in terms of production of alcohol, closely trailed by South America, Europe, and Asia Pacific. The leading players in the alcohol market include Glacial Lakes Energy LLC, Absolute Energy LLC, Aventine Renewable, Energy-Pekin, and Methanex Corporation.
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