Absolute Ethanol Market Size, Share & Industry Analysis, By Process (Synthetic, Biological), By Application (Pharmaceutical, Chemical, Medical, Personal Care, Cosmetics, Paints & Coatings, Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI103375 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Ethanol also known as alcohol, ethyl alcohol, spirit, ethylol, ethyl hydroxide, and others is a simple alcohol with chemical formula C₂H₆O_.Ethanol is a colorless, volatile, flammable liquid that has a distinct odor. It is a principal ingredient of alcoholic drinks and is a psychoactive substance. It has medical applications as it is a recreational drug and is also used as antiseptic and disinfectant. It is produced by fermentation of sugars by using yeast, which is a biological process and by petrochemical processes. It is used to synthesize other important organic compounds, as a solvent, and as fuel. Absolute alcohol is anhydrous alcohol with lower water content and is not intended for human consumption. It is used for laboratory and solvent applications.

The increasing demand for ethanol from end-use sectors like pharmaceuticals, medical, personal care, paints & coatings, and others is driving the market growth. Moreover, high demand for ethanol as fuel is expected to create a positive impact on the market. The increasing use of ethanol in personal care and cosmetic industries attributed to its volatile, colorless nature and distinctive smell is increasing the market demand. Normally, denatured ethanol is used as a carrier for perfume oils that are found in colognes and fragrances.

Key Market Driver -

Increasing demand from varied end-use industries

Key Market Restraint -

Volatility of raw material prices

Global expansion of ethanol production is growing significantly due to rise in the crude oil prices. The U.S. is a leading exporter and producer of ethanol fuel worldwide and hence fluctuations in the ethanol prices can play a significant role in influencing the country’s overall bioenergy policy. However, volatility in the raw materials can hinder the market profitability.

Market Segmentation:

Based on process type, the market is segmented into synthetic process and biological process. Based on application, the market is segmented into medical, pharmaceuticals, paints & coatings, personal care, cosmetics, chemical, and others.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global absolute ethanol market consists of global & regional players operating in the industry. Some of the key players in the market include PetroChina, Celanese Corporation, Spectrum, Mitsubishi Chemical Corporation, Lyondell Basell Industries N.V., and Others.

Key Insights

New Advancements in Production Technologies

Key Trends in the Absolute Ethanol Market

New Product Launches, Expansions, Key Players

Ranking of Key Players in the Market

Regional Analysis:

The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to be the largest market for absolute ethanol attributed to the increase in usage of ethanol in the personal care sector. Asia Pacific is expected to be the fastest growing market due to the large number of manufacturers based in China, South Korea, Japan, and Malaysia and high demand from the pharmaceutical, medical, and personal care industries. Europe is expected to show substantial growth due to the increase fuel consumption. Latin America and the Middle East & Africa are expected to show considerable growth by the end of the forecast period.

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Segmentation

ATTRIBUTE	DETAILS
By Process	Synthetic Biological
By Application	Pharmaceutical Chemical Medical Personal Care Cosmetics Paints & Coatings Others
By Geography	North America (U.S., and Canada) Europe (UK, Germany, France, Italy, and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific) Latin America (Mexico, Brazil, Argentina, and Rest of Latin America) Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)

Absolute Ethanol Industry Developments

In July 2018, Celenase entered into a joint venture with Chengzi Co, Ltd. to sell Ethanol production unit for the development of acetic acid based alcohol production which is considered as a clean energy source.

In February 2018, Mitsubishi Chemical Corp and ICM Inc., announced a strategic marketing venture to provide ZEBREX to the fuel ethanol industry in the U.S. ICM Inc. is a company that develops processes for efficient ethanol production.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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