Ethyl Alcohol Industry Outlook 2020-2030 - Global Market to Reach $657 Billion by 2023

DUBLIN, Feb. 24, 2020 /PRNewswire/ -- The "Ethyl Alcohol Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global ethyl alcohol manufacturing market was worth $493.49 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8% and reach $657.24 billion by 2023.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider ethyl alcohol market, and compares it with other markets.

Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages. Due to increased ready-to-eat, frozen and packaged foods, the food processing industry is growing significantly. As a result, the demand from the food processing industry has also increased due to growing population through new births and migrations, which further increases the industry's production and demand for ethanol.

The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow from $2.5 billion in 2018 to $7.38 billion by 2024, at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market.

The rise in awareness about ill effects of alcohol consumption is expected to limit the growth of the ethyl alcohol market. According to a study by World Health Organization (WHO), alcohol consumption is responsible for more than 200 diseases and injury conditions. It possess risks of health problems such as mental and behavioural disorders, diseases such as liver cirrhosis, cardiovascular diseases and injuries from road accidents. With rising awareness of effects of alcohol consumption on global health, the demand for information on consumption and its related harm and policies, has risen significantly.

For instance, in 2017, according to the 'Journal of Public Health', UK introduced new guidelines for alcohol consumption, due to increased occurences of alcohol-related health problems. The introduction of these new guidelines led to 71% of people being aware of the new alcohol consumption guidelines taking into account the growing evidences of ill-effects of alcohol. This is bound to negatively impact the market.

Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by dry milling process. In this process, corn kernel is prepared into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, global rising demand for oil, and negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereyby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline.

For example, according to the 'U.S. Department of Energy', the U.S is the largest producer of ethanol, producing ethanol mostly from corn. The production grew from 14.81 billion gallons in 2015 to nearly 16 billion gallons in 2017. Additionally, the U.S and Brazil produce 85% of the global ethanol from corn. Production of ethanol from corn helps in reducing greenhouse gases by 18% and production of ethanol from sugar helps in reducing greenhouse gases by 90% Production of ethanol from corn and sugar offers several advantages such as reduced greenhouse gases and decreases the dependency of foreign oil.

In October 2019, The Andersons, Inc., a USA-based company specialized in agriculture, grain, rail, plant nutrients, and ethanol merged with Marathon Petroleum Corp. to form a new entity, The Andersons Marathon Holdings LLC. The merger is expected to enhance and broaden the ethyl alcohol facilities. The ethyl alcohol facilities in the merger include those in Albion, Mich, Clymers, Ind, and Greenville, Ohio. Marathon Petroleum Corp. is a USA-based petroleum refining company that specializes in refining, supplying, marketing, and transporting petroleum products.

The ethyl alcohol market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. In 2018, North America was the largest region in the ethyl alcohol market.

Major players in the market are Advanced Bioenergy, Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, British Petroleum, Cargill Corporation, Green Plains, Kirin Holding Company, LyondellBasell Industries N.V.

Key Topics Covered

1. Executive Summary

2. Ethyl Alcohol Market Characteristics

3. Ethyl Alcohol Market Size And Growth
3.1. Global Ethyl Alcohol Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Ethyl Alcohol Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Ethyl Alcohol Market Segmentation
4.1. Global Ethyl Alcohol Market, Segmentation By End Use Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Automotive
• Food and Beverages
• Pharmaceutical
• Personal Care
• Others

4.2. Global Ethyl Alcohol Market, Segmentation By Feedstock Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Coarse-Grain Based Ethanol
• Sugarcane Based Ethanol
• Wheat-Based Ethanol

5. Ethyl Alcohol Market Regional And Country Analysis
5.1. Global Ethyl Alcohol Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Ethyl Alcohol Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• Advanced Bioenergy LLC
• Andersons Ethanol Group
• Archer Daniels Midland Company
• Aventine Renewable Energy
• Braskem
• British Petroleum
• Cargill Corporation
• Green Plains Inc.
• INEOS Group Holdings S.A.
• Kirin Holding Company
• LyondellBasell Industries N.V.
• Merck Millipore (U.S.)
• Mitsubishi Chemical Corporation
• Pacific Ethanol Inc.
• POET
• SABIC
• Sasol Limited
• Solvay Group
• Valero

For more information about this report visit https://www.researchandmarkets.com/r/73zru6

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