The industrial alcohol market is estimated to be valued at USD 154.26 billion in 2022 and is projected to grow at a CAGR of 10.4% to reach USD 224.56 billion by 2027. The demand for industrial alcohol is increasing across the globe, owing to its broad spectrum of applications. The rising population, growing awareness about the importance of biofuel for environmental safety, and increased applications of industrial alcohol are the factors driving the growth of this market.
Based on type,The ethyl alcohol segment is projected to dominate the market, owing to its increased usage as a biofuel or as an additive in commercial fuels.
Asia-Pacific region exhibits rapid growth due to economic growth, wide application of alcohol, and urbanization
The global market for industrial alcohol is driven by major players like Cargill (US), Raizen Energia (Brazil), Green Plains Inc (US), Cristalco (France), and MGP Ingredients (US)
On the basis of type, the industrial alcohol market has been segmented as follows:
On the basis of application, the industrial alcohol market has been segmented as follows:
On the basis of source, the industrial alcohol market has been segmented as follows:
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