Industrial Alcohol Market is estimated at USD 95.6 billion in 2021. This value is forecasted to grow at a CAGR of 11.8% to reach USD 141.61 billion by 2026.

Industrial Alcohol is distilled ethyl alcohol (C2H5OH), normally of high proof, produced and sold for other than beverage purposes. It is usually distributed in the form of pure ethyl alcohol, completely denatured alcohol, especially denatured alcohol and proprietary solvent blends; these are the main factors that have considerably increased the demand for the Industrial Alcohol in the market, thereby driving the huge growth of the Industrial Alcohol market in the upcoming years

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Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Industrial Alcohol in the market is mainly due to the Industrial alcohols act as a reagent as well as a solvent in various industrial applications in the pharmaceuticals, personal care, energy sector, and chemical industries. These alcohols are used in applications other than beverages. In addition, multi-functionality increases the adoption in various end-use applications. Moreover, ethanol, being the majorly produced and consumed alcohol, is widely utilized as a bio fuel worldwide. These fuels are produced by fermentation of sugars derived from wheat, corn, sugar beets, sugar cane, and molasses. Furthermore, it is used in petrol engines as an alternative to gasoline. In addition, alcohols such as methanol, benzyl alcohol, and isopropyl alcohol are also used in the production of food products, flavourings, cosmetics, and adhesives; these are the main factors that have considerably increased the demand for the Industrial Alcohol in the market, thereby driving the huge growth of the Industrial Alcohol market in the upcoming years

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Report is segmented as:

Industrial Alcohol Market is segmented on the basis of by:

By Application into Fuel, Chemical Intermediates & Solvent, Pharmaceuticals, Personal Care Products, Food Ingredients, Others application (Adhesives and Coatings)
By Type into Isopropyl Alcohol ,Methyl Alcohol ,Ethyl Alcohol ,Isobutyl Alcohol ,Benzyl Alcohol ,Others (Pentane and Methyl-1-Butanol)
By Source into Molasses, Sugar, Grains, Fossil Fuels, Others Source (Whey and Grapes)
Geographical Segmentation:

Industrial Alcohol Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Industrial Alcohol is due to the rise in the disposal income these are the main factors that have considerably increased the demand for the Industrial Alcohol in the North America , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Industrial Alcohol Market

Impact of COVID-19 on Market

The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate have an effect on of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increase opportunities. COVID-19 will have an occasional have an effect on the Industrial Alcohol market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Industrial Alcohol market growth

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