Growing requirement for environment-friendly fuel alternative to run automobiles is anticipated to propel demand for industrial alcohol. This kind of alcohol offers properties such as flammability, colorlessness, and volatility. Such effective properties are enough to make it a better biofuel over fossil fuels. Ethyl alcohol, isobutyl alcohol, methyl alcohol, and isopropyl alcohol are some of the major types of industrial alcohol. Low emissions and less intoxicating effects of these alcohols are expected to spur the demand for industrial alcohol in various end use sectors including chemicals, pharmaceuticals, personal care, food ingredients, and many others.
New Ethanol Facility to Offer 350K Capacity
In the past years, methyl alcohol and ethyl alcohol dominated the overall product segment in terms of revenue and volume. Wide range of pharmaceutical, industrial, and personal care application areas of these alcohols are likely to propel their demand in the coming years. To cater to rising demand, most companies are offering ethyl alcohol for industrial and consumer use.
For instance, Beidahuang Group in China recently signed an agreement with the mayor of Inner Mongolia’s Baotou city to build an ethyl alcohol (Ethanol) facility. This facility with an annual capacity of 350,000 tons. It will use 350,000 tons of straw and sweet sorghum and 924,000 tons of corn. Through this agreement, China will implement a mandate requiring all gasoline to contain 10 % ethanol.
Market Insights
The global industrial alcohol market is expected to reach USD 223.63 billion by 2025, according to a report by Grand View Research, Inc. Growing need for an effective substitute for fossil fuels in automobiles to control harmful emissions is expected to augment the market demand in the coming years. In addition, favorable government initiative programs to promote industrial alcohol as an alternative fuel can bode well for the global market growth. Increasing use of different forms of industrial alcohol such as methanol and isobutanol in personal care and automobile sectors can also impel growth of the market during the forecast period (2018 to 2025). Some of the leading companies offering industrial alcohol are Royal Dutch Shell, Eastman Chemical Company, BASF SE, Greenfield Global, and Grain Millers, Inc.
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