North America Industrial Alcohol Market is valued at USD 28.94 billion in 2022 and is expected to grow at a CAGR of 11%, to reach USD 48.76 billion by the 2028 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.
The significant driver for Industrial Alcohol rising demand for organic solvents owing to efficient properties including high octane number and flammability characteristics. It is a better and cleaner burning fuel that is blended with gasoline and diesel fuels to reduce fuel consumption and emissions. The rising environmental concerns and strict government guidelines supporting the development of bioethanol in several countries will further boost the industrial alcohol market.
North America Industrial Alcohol Market has been segmented and sub-segmented into the following categories:
By Processing Method:
On the basis of region, North America has the highest share of this market. The USA has the highest demand followed by Canada and Mexico. The North America region is largely driven by industrial concerns.
The Andersons Inc
Grain Processing Corporation
Green Plains Inc
Greenfield Specialty Alcohols
Flint Hills Resources.
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