Global Acyclic Alcohols Market Size (2024  - 2030)

According to estimates, the Acyclic Alcohols market would be worth USD 45.8 billion in 2023 and USD 62.62 billion in 2030, growing at a 4.57% CAGR.

Industry Overview:

Global Acyclic Alcohols market is growing at a steady rate. The industry consists of the production, marketing, and retailing of Acyclic Alcohols. These products are used in our everyday lives. These are also used heavily in various industries such as automotives, pharmaceuticals, food and beverages, etc. The industry can be segmented into various categories such as on the basis of the source type, application, end use industry and the type of alcohols etc. The industry has shown promising growth in the recent years even due to the impact of the pandemic.

COVID-19 Impact:

The global pharmaceutical companies have seen a tremendous growth during the COVID-19 period as the consumption of various OTC medicine and prescription medicine went up due to deteriorating health of people during the spread of the virus. The packaging material required for the formulation of these medicines is derived from Acyclic Alcohols. There has been an increased focus on the personal health by the individuals. The personal care segment has seen an increased growth. This is due to increase awareness about personal well-being and hygiene. Personal Hygiene products such as sanitary pads have seen an increase in demand due to increasing awareness by young girls about menstruation.

MARKET DRIVERS

Rapid industrialization is driving growth in Acyclic Alcohols Market

One of the key factors in the growth of the Acyclic Alcohols markets is the rapid industrialization across the globe. The increasing globalization has led to the excessive sharing of resources and the exchange of goods and commodities. The growing industries are automotive, pharma, food and beverages, and paints and coatings which have excessive usage of Acyclic Alcohols.

An increase in the demand for plastic packaging is driving growth in Acyclic Alcohols Market

There is an increase in the demand for plastic packaging. Plastic and bioplastic come from Acyclic alcohol hence, it is directly increasing the demand for the chemicals. There has been a significant increase in the consumption of soft drink beverages which has increased the demand for bottles needed for packaging.

MARKET RESTRAINTS

Increasing environmental issues are restraining growth in Acyclic Alcohols Market

Increasing environmental issues are restraining the growth in the acyclic alcohol market as people are getting more aware of these issues. People are now consuming fewer plastic products due to increased awareness about the harm that plastic-related products do to the environment. Hence, it is restraining the growth of the industry.

Strict government regulations are restraining growth in Acyclic Alcohols Market

Governments have placed strict regulations on the industry which has slowed the growth in the Acyclic Alcohols market. These strict regulations have been imposed due to the increasing incidence of the harmful nature of products derived from Acyclic alcohol. These products are not biodegradable which is making their disposable very difficult.

ACYCLIC ALCOHOLS MARKET REPORT COVERAGE:

This research report on the global Acyclic Alcohols Market has been segmented and sub-segmented based on source, application, end-use industry, type and region.

Acyclic Alcohols market segmentation – By Source

1. Sugar and Molasses

2. Corn

3. Grains

4. Fossil Fuels

5. Other sources

In terms of Source, the Acyclic Alcohols market is divided into five major categories. These are Sugar and Molasses, Corn, Grains, Fossil Fuels, and other sources. It is obtained from Sugar and Molasses by first fermenting sugar. Then this sugar is further fermented by using yeast to convert it into ethanol. In this way, acyclic alcohols are formed. This is one of the most used ways to prepare ethanol.

Acyclic Alcohols market segmentation – By Application

1. Anti-Microbial activity

2. Fragrant Flavouring Agent

3. Solubility

4. Anti-freeze

5. Flammability

In terms of application, the acyclic alcohol market can be classified into five major categories, Anti-Microbial activity, Fragrant Flavouring Agent, Solubility, Anti-freeze, and Flammability. Acyclic is used in microbial infections in various medications where they stop the growth of the bacteria or kill the bacteria. They are used in the fragrance and flavouring of various products. They can also be used as a co-solvent and anti-freeze agent.

Acyclic Alcohols market segmentation – By End Use Industry

1. Automotive

2. Food and Beverage

3. Pharmaceutical

4. Cosmetics and Personal care

5. Other Industries

The Acyclic Alcohols market is divided into five major categories in terms of end-use industry. These industries are Automotive, Food and Beverage, Pharmaceutical, Cosmetics and Personal Care and Other Industries. There has been an increase in the demand for EV vehicles which come under the automotive industry. People are now shifting to eco-friendly modes of transportation. They’re reducing their dependence on vehicles which use fossil fuels. Fossil fuel is crude oil which is extracted from the earth’s surface. The crude oil is converted into various other products such as High distillates, medium distillates and low distillates. These are then converted into Naphtha and other petroleum products. Petrol and diesel are obtained from Gasoline which produces carbon dioxide and sulphur dioxide when burnt. These gases increase the greenhouse effect which is responsible for enveloping the earth’s environment. The earth’s environment then traps the sun's rays which makes the planet warmer, causing global warming. Due to these reasons, climate change is occurring which is leading to unpredictable weather changes and rising sea levels by melting ice. To prevent these hazards, organizations are now investing in research and development to improve the efficiency and affordability of EVs. Significant progress has been made in the industry and the production and demand for EVs have picked up. This is leading to increased use of Acyclic Alcohols.

These alcohols are used in various tasks such as providing a paint coat on the car. They also have a use in hydraulic brakes. In food and beverage industry, soft drinks such as carbonated drinks hold a major share. Excluding 2020, the countries have achieved a healthy CAGR. There has been an increase incidence in the consumption of low-sugar soft drinks such as buttermilk, coconut and ice tea. These are proving to be better alternatives for the users. As the users are getting educated about the harmful effects of sugar consumption such as diabetes and obesity which can cause cardiovascular diseases. People are now shifting to healthy drinks which are low in sugar. The increase in demand for these drinks has led to an increase demand for packaging material and plastic bottles which come from the processing of Acyclic Alcohols. Hence, its use in food and beverage industry is significant. The global pharmaceutical companies have seen a tremendous growth during the COVID-19 period as the consumption of various OTC medicine and prescription medicine went up due to deteriorating health of people during the spread of the virus. The packaging material required for the formulation of these medicines is derived from Acyclic Alcohols. There has been an increased focus on the personal health by the individuals. The personal care segment has seen an increased growth. This is due to increase awareness about personal well being and hygiene. Personal Hygiene products such as sanitary pads have seen an increase in demand due to an increasing awareness by young girls about menstruation. Governments in the developing countries are also educating people about the subject and provides sanitary pads free of cost. This is changing the consumer behaviour and leading them to get use to the hygienic conditions. Acyclic Alcohols are used as a raw material in the Sanitary Pads.

Acyclic Alcohols market segmentation – By Type

1. Ethyl Alcohol

2. Methyl Alcohol

3. Isopropyl Alcohol

4. Isobutyl Alcohol

5. Benzyl Alcohol

6. Others

In terms of type acyclic alcohols can be divided into six major categories. These are Ethyl Alcohol, Methyl Alcohol, Isopropyl Alcohol, Isopropyl Alcohol, Isobutyl Alcohol, Benzyl Alcohol and Others. These alcohols have various uses in different industries. These are highly used in the pharmaceutical and food industry. In the chemical industry, they have an important usage.

Acyclic Alcohols market segmentation – By Region

1. North America

2. Europe

3. Asia-Pacific

4. South America

5. Middle East and Africa

The North America market is the largest market of Acyl Alcohols in the world. The region has invested large amount of capital on the infrastructure of the industry. North America is also on research and development of acyclic alcohols. South America has abundance of raw materials which makes it a good prospect of growth in the future. The barrier to market entry is very high as the industry is capital intensive. Overall, the industry has seen a positive trend in the world.

Acyclic Alcohols market segmentation – By Company

1. United Breweries

2. Aventine Renewable Energy

3. AB Miller

4. Archer Daniels Midland Company

5. Kirin

6. Pure Energy Inc.

7. British Petroleum

8. Cargill Corp.

These companies either work in the entire value chain of the market or has the responsibility of taking care of the manufacturing division. The logistics are an important part of the industry; therefore, the fluctuation of fuel prices impacts the industry directly by increasing the transportation prices.

NOTABLE HAPPENINGS IN THE ACYCLIC ALCOHOLS MARKET IN THE RECENT PAST:

• In September 2022, United Breweries, the largest beer maker in India launched a new alcoholic beverage called Heineken Silver. It is a light and easy to drink beer.

• In September 2022, Coca Cola and Kirin entered into a partnership in health drinks segment as Coca Cola is looking to extend its market in Japan.