(MoneyNewsWire.Net, January 05, 2018 ) The North America Industrial Alcohol Market is worth USD 24 billion in 2016 and estimated to grow at a CAGR of 11%, to reach USD 41 billion by 2021. The North America Industrial Alcohol market is developing at an exceptionally quick pace.
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Industrial alcohol is a distilled form of ethyl alcohol that is produced and sold for varied beverage purposes. Industrial alcohol is usually distributed in the form of pure ethyl alcohol. Pure ethyl alcohol is used in the chemical laboratories or industries for the purpose of sanitizing, cleaning and other solvent usage. Moreover, this type of ethyl alcohol is also used in medicines, as food ingredient, flavoring and other cosmetic products. In medical sector, industrial alcohol is used in the process of manufacturing vaccines, syrups and antiseptics. Ethyl alcohol, popularly termed Ethanol is volatile, flammable and colorless liquid and is the most widely used biofuel . The production of industrial alcohol is through fermentation and distillation process that requires a certain temperature of heat as energy to develop. Initially industrial alcohol out broke from the growth of alcoholic beverages but now a days it is used as a solvent and synthesizing other chemicals.
The significant drivers for Industrial Alcohol rising demand of organic solvents owing to efficient properties including high octane number and flammability characteristics . It is a better and cleaner burning fuel which is blended with gasoline and diesel fuels to reduce the fuel consumption and emissions. With the rising environmental concerns and strict government guidelines supporting the development of bioethanol in several countries will further boost industrial alcohol market.
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The North America market for Industrial Alcohol is segmented on the basis of type, source, and application, purity, processing method, functionality and region. Based on application, the market is segmented into Personal Care, Pharmaceutical, Fuel, Food, Chemical. Based on purity, the market is segmented into Denatured alcohol & Undenatured alcohol. Based on source, the market is segmented into Sugar & molasses, Corn, Grains (excluding corn), Fossil Fuels, Others (whey, cellulosic materials, and algae). Based on Processing Method, the market is segmented into Fermentation Method and Synthetic Method. Based on functionality, the market is segmented into Antimicrobial Activity ,Fragrant/Flavoring Agents, Solubility ,Antifreeze ,and Flammability & Volatility. Based on Type, the market is segmented into ethyl alcohol, methyl alcohol, isopropyl alcohol, benzyl alcohol and others. Ethyl alcohol is the largest used industrial alcohol amongst all these and is used in more applications than any other type of industrial alcohol.
The North America market has been geographically segmented into segmented into US, Canada and Mexico. North America has the highest no. share in this market .USA has the highest demand followed by Canada and Mexico. The North America region is largely driven by industrial concerns.
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MGP Ingredients (U.S.), The Andersons Inc. (U.S.), Sigma Aldrich (U.S.), Grain Processing Corporation (U.S.), Cargill (U.S.), Raizen Energia (Brazil), Green Plains Inc. (U.S.), Cristalco (France), Greenfield Specialty Alcohols (Canada), and Flint Hills Resources (U.S.) are the leaders in the North America Industrial Alcohol market.
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