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The ethyl alcohol market share is expected to increase by USD 18.83 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.8%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (automotive, food and beverage, personal care, pharmaceutical, and others) and geography (North America, South America, Europe, APAC, and Middle East and Africa).
The ethyl alcohol market report offers information on several market vendors, including ALTO INGREDIENTS INC., Archer Daniels Midland Co., Attis Biofuels, BP Plc, Cargill Inc., CropEnergies AG, GranBio, INEOS Group Holdings SA, JEPSON COMMODITIES, Jubilant Ingrevia Ltd., Kanoria Chemicals and Industries Ltd., LyondellBasell Industries NV, Merck KGaA, Mitsubishi Chemical Holdings Corp., POET LLC, Sasol Ltd., The Andersons Inc., Thermo Fisher Scientific Inc., and Valero Energy Corp. among others.
ALTO INGREDIENTS INC. - The company is publicly held and headquartered in the US. It is a global company generating USD 1,207.8 million in revenues and has around 417 employees. Its revenue from the global market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company offers ethyl alcohol produced by the natural fermentation of corn which is a solvent used as an active pharmaceutical ingredient as well as a pharmaceutical excipient non-active ingredient.
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Technavio categorizes the global ethyl alcohol market as a part of the global speciality chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The high availability of feedstock is notably driving the market growth, although factors such as increasing demand for electric vehicles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
The key market driver for the market is the high availability of feedstock. One of the key factors driving growth in the market is the high availability of feedstock. Globally, there is a growing interest in alternative fuels on account of uncertainty in global fuel prices, energy security, and continuous rise in emission levels. The demand for fuels that reduce carbon emission levels is rising and the gradual depletion of fossil fuel reserves is increasing the demand for ethyl alcohol. The demand for ethyl alcohol in various applications, such as automotive, food and beverages, pharmaceutical, and personal care, is high in countries such as India, China, and Brazil because of the large availability of feedstock.
Key Market Trend
The key market trend for the market is a reduction in arable land. Rapid industrialization and urbanization have reduced arable land across the world. Inappropriate agricultural practices and deforestation have diminished the fertility of arable land. With an increase in the global population, the demand for food is expected to rise exponentially during the forecast period. An additional 34 million square kilometres of new arable land will be required to cater to this demand for food. By 2030, developing nations, including China, Brazil, and India, will require an additional 120 million hectares of land to fulfil the demand for food grains. Shrinkage in global arable land is expected to reduce the production of corn or maize across the world. Corn is one of the raw materials required to produce ethyl alcohol. Ethyl alcohol is produced by the fermentation of corn by using enzymes such as yeast. Thus, a reduction in arable land will decrease the global production of corn during the forecast period. This is likely to reduce the growth of the global market during the forecast period.
Key Market Challenge
The key market challenge for the market for health hazards due to the consumption of ethyl alcohol. Ethyl alcohol is produced by the fermentation of corn using enzymes such as yeast. Corn is the major raw material used in the production of ethanol. According to the Food and Agricultural Organization (FAO), the total corn or maize production in India was estimated at around 30.2 million tons in 2020. In the same year, the total corn or maize production in China was estimated at around 260.5 million tons. Therefore, the higher availability of feedstock for the production of ethyl alcohol will drive the demand for ethyl alcohol during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our In-house experts produce extensive information on the value chain and parent market of the ethyl alcohol market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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44% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the ethyl alcohol market in North America. Market growth in this region will be faster than the growth of the market in Europe, the Middle East, and African regions.
The strong demand for ethyl alcohol as a fuel additive in automotive, the growing pharmaceutical market, and the increasing demand for food additives in the region will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Many automotive companies in the region had to temporarily shut down their production activities to prevent the spread of COVID-19 in 2020. For instance, in March 2020, Renault and Fiat Chrysler Automobiles NV (Fiat Chrysler Automobiles) cut down production at their European plants. Similarly, in March 2020, Bayerische Motoren Werke AG (BMW) announced the halt of production in many of its European plants. Hence, these factors negatively impacted the demand for ethyl alcohol and restricted the potential growth of the regional market in 2020.
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The ethyl alcohol market share growth by the automotive segment will be significant during the forecast period. Rising vehicle production across the world will drive the demand for ethyl alcohol during the forecast period. India, China, Germany, South Korea, and Japan are among the leading producers of automobiles across the world. These countries have large manufacturing hubs for automotive vehicle production. The rising production of vehicles will increase the demand for ethyl alcohol during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the machine tools market size and actionable market insights on the post-COVID-19 impact on each segment.
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Ethyl Alcohol Market Scope |
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Report Coverage |
Details |
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Page number |
148 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.8% |
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Market growth 2022-2026 |
USD 18.83 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.17 |
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Regional analysis |
North America, South America, Europe, APAC, and Middle East and Africa |
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Performing market contribution |
North America at 44% |
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Key consumer countries |
US, Canada, China, Germany, and Brazil |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ALTO INGREDIENTS INC., Archer Daniels Midland Co., Attis Biofuels, BP Plc, Cargill Inc., CropEnergies AG, GranBio, INEOS Group Holdings SA, JEPSON COMMODITIES, Jubilant Ingrevia Ltd., Kanoria Chemicals and Industries Ltd., LyondellBasell Industries NV, Merck KGaA, Mitsubishi Chemical Holdings Corp., POET LLC, Sasol Ltd., The Andersons Inc., Thermo Fisher Scientific Inc., and Valero Energy Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis, and future consumer dynamics and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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