Europe Industrial Alcohol Market is valued at USD 25.32 billion in 2022 and is projected to grow at a CAGR of 10.2%, to reach USD 41.15 billion by 2028 during the forecast period 2023-2028.
Industrial alcohol is a distilled form of ethyl alcohol that is produced and sold for varied beverage purposes. Industrial alcohol is usually distributed in the form of pure ethyl alcohol. Pure ethyl alcohol is used in chemical laboratories or industries for the purpose of sanitizing, cleaning, and other solvent usage. Moreover, this type of ethyl alcohol is also used in medicines, as a food ingredient, as flavoring, and as other cosmetic products. In the medical sector, industrial alcohol is used in the process of manufacturing vaccines, syrups, and antiseptics.
Ethyl alcohol popularly termed Ethanol is a volatile, flammable, and colorless liquid and is the most widely used biofuel. The production of industrial alcohol is through the fermentation and distillation process that requires a certain temperature of heat as energy to develop. Initially, industrial alcohol was outbroken by the growth of alcoholic beverages but nowadays it is used as a solvent and synthesizing other chemicals.
Organic solvents consisting of ethanol, methanol, and isobutanol are the most widely used solvents in the chemical industry after water. The feedstock prepared from starch and corn is low-cost and used to meet energy requirements in various industries. However, the fluctuating costs of crude materials limit the industrial alcohol market.
Flammability & Volatility.
Czech Republic & Rest of Europe.
On the basis of type, Ethyl alcohol is the largest used industrial alcohol among all these and is used in more applications than any other type of industrial alcohol.
On the basis of region, Europe had a high CAGR during the forecast period. The reasons for the same might be government policies.
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