Mar 19, 2020   SOURCE: BusinessWire

Global Ethyl Alcohol Market 2020-2024 | Increasing Demand for Ethanol From the Food Processing Industry to Boost Market Growth | Technavio

The ethyl alcohol market is expected to grow by USD 21.23 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has published a latest market research report titled Global Ethyl Alcohol Market 2020-2024 (Graphic: Business Wire)

Technavio has published a latest market research report titled Global Ethyl Alcohol Market 2020-2024 (Graphic: Business Wire)

Ethyl alcohol is extensively used as a food processing ingredient in the food and beverage industry. It is used as an ingredient in various alcoholic beverages, such as vodka and gin. Furthermore, in non-alcoholic beverages, ethyl alcohol is used as a natural product to extract and concentrate flavors and aromas, which are used in wine production. The increasing production of wine across the world is expected to further contribute to the growth of the global ethyl alcohol market during the forecast period.

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As per Technavio, the growing for ethyl alcohol from the automotive industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Ethyl Alcohol Market: Growing Demand For Ethyl Alcohol from the Automotive Industry

Growing environmental concerns related to pollution from the automotive industry have increased the adoption of renewable fuels. One such renewable fuel is ethyl alcohol, which is used as a fuel additive in automobiles to reduce harmful gas emissions and increase the efficiency of vehicles. Major automotive manufacturing countries such as China, Germany, India, France, Italy, South Korea, Japan, and the US use ethyl alcohol as a fuel additive. Thus, the growing demand for ethyl alcohol from the automotive industry will drive market growth during the forecast period.

“Increase in government initiatives supporting the use of ethyl alcohol for various applications and the high availability of feedstock for the production of ethyl alcohol will have a significant impact on the growth of the ethyl alcohol market value during the forecast period,” says a senior analyst at Technavio.

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Ethyl Alcohol Market: Segmentation Analysis

This market research report segments the ethyl alcohol market by end-user (automotive, food and beverages, personal care, pharmaceutical, and others) and geography (North America, APAC, Europe, South America, and MEA).

The North American region led the ethyl alcohol market in 2019, followed by South America, Europe, and APAC. During the forecast period, North American is expected to register the highest incremental growth due to factors such as the increasing demand for fuel additives and food additives and the growing pharmaceutical industry in the region.

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Some of the key topics covered in the report include:

End-user

  • Automotive
  • Food and beverages
  • Personal care
  • Pharmaceutical
  • Others

Geographic segmentation

  • North America
  • APAC
  • Europe
  • South America
  • MEA

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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