Ethyl Alcohol is an explosive, flammable, colourless liquid with a small characteristic aroma. The compound is a chief active additive of alcoholic drinks. The increasing usage of alcohol across the globe propels the market for Ethyl Alcohol. Ethyl alcohol is widely utilized as a food processing ingredient in the food and beverage industry. It is utilized as an ingredient in different alcoholic beverages, like vodka and gin. Furthermore, in non-alcoholic beverages, ethyl alcohol is utilized as a natural product to take out and centralize flavours and aromas that are used in wine production.
According to the report analysis,’ Global Ethyl Alcohol Market to reach USD XXX billion by 2027’ states that increasing efforts by the makers to strengthen the distribution channels like online stores and convenience stores help the easy availability of the merchandise fuelling the market growth. As per the beverage Information and Insights Group, the straight American whiskey category grew 5.3% in 2018 reaching 23.29 million 9-liter cases in the US. While the Rose Category grew about 48% in the US and the Wine witnessed an overall growth of 3%. Further, the Indian Spirit sector including whiskey, brandy, rum and vodka was estimated to expand 25% to USD 41 trillion by 2022. Some of the major players in the market include Archer Daniels Midland Company, POET LLC, Valero Energy Corporation, Green Plains Inc., Advanced Bioenergy LLC, Flint Hills Resources LP, HPCL Biofuels Limited, Andersons Ethanol Group, Braskem and Cargill Corporation.
The regional analysis of global Ethyl Alcohol market is taken into account for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the globe in regards of market share because of the stringent regulations toward decreasing the usage of fossil fuels, and increasing demand from the food processing industry. While, Asia-Pacific is also anticipated to exhibit highest rate of growth over the forecast amount.
Factors like arising disposable income, arising alcohol consumption would create money making expansion prospects for the Ethyl Alcohol market across Asia-Pacific region. The detailed segments and sub-segment of the market are explained as follows By Grade segmented into Food Grade, Industrial Grade, Pharmaceutical Grade and Lab Grade. By Purity segmented into Indentured Ethanol and Denatured Ethanol. By Application segmented into Industrial Solvent, Fuel/Fuel Additive, Disinfectant, Beverages and Others.
Furthermore, ethanol is gaining support for application as fuel, as a result of its renewable supply and eco-friendliness with lower emissions. The fuel phase dominated the market and is probably going to grow during the forecast amount, because of increased practice of ethanol blending with gasoline across the world. Additionally, to boot increase in government initiatives supporting the employment of ethyl alcohol for numerous applications and therefore the high handiness of feedstock for the production of ethyl alcohol will have a significant impact on the growth of the ethyl alcohol market value during the forecast period. Moreover, the surging demand to produce ethanol from corn and sugar is probably going to provide opportunities for the market studied, throughout the forecast period. Therefore, it is anticipated that the market of Global Ethyl Alcohol Market will boost up in upcoming years.
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Ankur Gupta, Head Marketing & Communications