Ethyl Alcohol Market Report 2021: Impact and Recovery of COVID-19
Ethyl Alcohol Market Report 2021
The Business Research Company Global Ethyl Alcohol Market Report 2021: Impact and Recovery of COVID-19
LONDON, GREATER LONDON, UK, September 8, 2021 /EINPresswire.com/ – According to the new Ethyl Alcohol Global Market Report 2021: COVID-19 Impact And Recovery ‘market research report published by The Business Research Company, the Ethyl alcohol market is expected to grow from $ 4.57 trillion in 2020 to $ 4.89 trillion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 5.85 trillion in 2025 at a CAGR of 5%. The growing demand for ethanol in the food industry is expected to drive the demand for ethyl alcohol during the forecast period, which will drive the market.
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The ethyl alcohol market consists of ethyl alcohol sales and related services. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages such as beer, wine, or brandy, and as a gasoline additive in the automotive industry. Ethyl alcohol also known as ethanol or grain alcohol is a volatile, flammable and colorless liquid used industrially as a chemical intermediate to make pharmaceutical ingredients or as a solvent.
Global Ethyl Alcohol Market Trends
Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by dry grinding. In this process, the corn kernel is prepared into flour or mash, which is then mixed with water. It is purified by distillation and dehydration to create ethanol. Growing demand for liquid fuels in the transportation industry, growing global demand for petroleum, and the negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing gas Greenhouse effect. It can be used in many passenger cars and trucks today as a substitute for gasoline combustion. The United States Department of Agriculture (USDA) predicts that in the 2020-21 crop year, 5.2 billion hectares of corn will go to ethanol production, up 250 million hectares from the approximate amount of corn that was turned into ethanol during the period 2019-2020. harvest season.
Global Ethyl Alcohol Market Segments:
The global ethyl alcohol market is further segmented on the basis of type, application, end-use industry, and geography.
By Type: Synthetic, Fermented
By application: industrial solvent, fuel / fuel additive, bactericide / disinfectant, beverages, personal care, other applications
By end-use industry: automotive, food and beverage, pharmaceuticals, personal care, other
By Geography: The global ethyl alcohol market is segmented into North America, South America, Asia Pacific, Eastern Europe, Western Europe, Middle East, and Africa.
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The Global Ethyl Alcohol Market 2021 report is part of a series of new reports by The Business Research Company that provides Ethyl Alcohol market overviews, analysis and forecast on the size and growth of the Global Ethyl Alcohol Market market share, Ethyl Alcohol market share, Ethyl Alcohol market players, Ethyl Alcohol market segments and geographies, revenue, market profiles and share of the main competitors in the ethyl alcohol market. The Ethyl Alcohol market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read the 2021 Global Ethyl Alcohol Market Report from The Business Research Company for insight into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Ethyl Alcohol Market Organizations Covered: Advanced Bioenergy LLC, Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, British Petroleum, Cargill Corporation, Green Plains Inc., Kirin Holding Company, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, Pacific Ethanol Inc., SABIC, Sasol Limited, POET, Groupe Solvay, Valero, INEOS Group Holdings SA, Merck Millipore (United States).
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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