Owing
to high consumption in industries in several forms, the demand for
alcohol is likely to rise over the coming years, says 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.” The report is a careful examination
into the growth trajectory of the global market in terms of volume
and revenue shares in various segments. The report also highlights
the strategies and products of the leading companies.
Alcohol
is referred to as compounds containing at least one hydroxyl (-OH)
group linked to a single joined alkane. There are several types of
alcohols which are being used in several applications across many
industries. A few of the prominent types of alcohols are sorbitol,
xylitol, ethylene glycol, pentanol, methanol, butanol, and ethanol
among others. The global market for alcohol is substantially vast and
is employed in several applications, the common one being in
antiseptics, preservatives, antifreeze, fuel, and solvents. Alcohol
can be manufactured through various methods such as biological
fermentation, hydration reactions, and oxo processes.
Ethanol
is the most frequently used type of alcohol across the globe. The
demand for ethanol is over 100 billion liters globally out of which
80% is employed as fuel. Ethanol is mainly a renewable fuel and a
prospective substitute of gasoline. The broad acceptance base of
ethanol fuel is the primary driver of this market. The demand for
alcohol is likely to surge in Brazil, the U.S. and the regions of
Europe and Asia Pacific. The growth of the market in these regions
can be attributed to the high use of ethanol in cosmetics,
pharmaceuticals, alcohol beverages, and other several industrial
applications. Ethanol is also employed as an antiseptic to sterilize
skin before invasive procedures such as injections. It is mainly used
as hand sanitizers and soaps owing to its volatile nature.
For
more information on this report, fill the form @
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6032
Another
important alcohol type is methanol and it has experienced exponential
growth in its demand over the last couple of years form many sectors.
It is mainly used as an intermediate for the production of
formaldehyde used in the wood, pharmaceutical, and automotive
industry. The overall growth of the alcohol market is likely to be
positive owing to its application is several industries in different
forms. North America emerged as the leading producer of alcohol
closely trailed by South America, Europe, and Asia Pacific. The
leading players in the global alcohol market are Glacial Lakes Energy
LLC, Aventine Renewable Energy-Pekin, Absolute Energy LLC, and
Methanex Corporation.
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