Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2024

The ethyl alcohol and other basic organic chemical market size has grown strongly in recent years. It will grow from $1,303.83 billion in 2023 to $1,421.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%.

The growth in the historic period can be attributed to factors such as industrialization, the growth of the petrochemical industry, manufacturing of consumer products, the production of agricultural chemicals, and increased demand in the energy sector.

The ethyl alcohol and other basic organic chemical market size is expected to see strong growth in the next few years. It will grow to $1,970.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to factors such as the increased demand for renewable energy and biofuels, stricter environmental regulations, the adoption of circular economy initiatives, the application of green chemistry principles, and the rising trends in health and wellness. Major trends in the forecast period include the development of biobased chemicals, specialty chemicals, sustainable packaging solutions, carbon capture and utilization (CCU) technologies, and innovations in the personal care and cosmetics industry.

Ethyl alcohol and other basic organic chemicals are categorized into various types, including synthetic sweeteners, plasticizers, ethyl alcohol, silicone (except resins), fatty acids, gum, and wood chemicals. Ethyl alcohol is a clear, volatile, and flammable liquid with the chemical formula C2H5OH, which is the active ingredient in alcoholic beverages, serves as a solvent, and is used in fuel production. It is available in different grades, including food grade, industrial grade, and cosmetics grade. These chemicals find applications in various industries, including the chemical industry, coating and printing industry, electronics industry, food and pharmaceutical industry, as well as other end-user industries.

The ethyl alcohol and other basic organic chemicals market research report is one of a series of new reports that provides ethyl alcohol and other basic organic chemicals market statistics, including ethyl alcohol and other basic organic chemicals industry global market size, regional shares, competitors with an ethyl alcohol and other basic organic chemicals market share, detailed ethyl alcohol and other basic organic chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the ethyl alcohol and other basic organic chemicals industry. This ethyl alcohol and other basic organic chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing demand for alcoholic beverages is expected to drive the growth of the ethyl alcohol and other basic organic chemicals market. Ethyl alcohol, or ethanol, is a key component of alcoholic drinks and is responsible for their psychoactive effects. Additionally, various other basic organic chemicals, such as flavor compounds and sugars, play essential roles in enhancing the taste, aroma, and overall sensory experience of alcoholic beverages. For example, in 2021, the National Institute on Alcohol Abuse and Alcoholism reported that per capita ethanol consumption from alcoholic beverages in the United States increased to 2.51 gallons per person, reflecting a 2.9% rise from the previous year's 2.44 gallons. This trend was observed across different regions in the United States, with per capita alcohol consumption increasing between 2020 and 2021. Therefore, the rising demand for alcoholic beverages is expected to be a driving force in the ethyl alcohol and other basic organic chemicals market.

The ethyl alcohol and other basic organic chemicals market is anticipated to experience growth driven by the increasing demand for ethanol as a fuel component. Ethanol, derived from renewable plant materials, is used in gasoline to reduce emissions and enhance octane ratings, making it an eco-friendly and sustainable fuel option. When ethanol (ethyl alcohol) is blended with gasoline, it not only contributes to improved fuel efficiency but also helps in reducing emissions. For example, data from the Foreign Agricultural Service in August 2023 indicates that Canada witnessed a 20 percent year-over-year increase in fuel ethanol consumption, with biodiesel production reaching 416 million liters in 2022, up from the previous year's 405 million liters. Consequently, the rising demand for ethanol as a fuel component is a significant driver of the ethyl alcohol and other basic organic chemicals market's growth.

There is a global forecast of rising interest rates in the majority of both developing and developed economies during the forecast period. This is expected to impose limitations on new investments within the market. Many countries worldwide are increasing their interest rates as a measure to control inflation and restrict the outflow of capital from the country. This, in turn, is likely to have adverse effects on new investments related to expansion and research and development of new products. As an example, interest rates in the United States are projected to increase by as much as 3.5% by 2021. These factors are anticipated to exert a negative influence on the market due to the increased cost of borrowing money, subsequently impacting market growth.

Chemical companies are progressively adopting automation and instrumentation solutions to enhance the control of their production processes. These automation instruments encompass control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters, which play a pivotal role in optimizing operational efficiency within manufacturing facilities. As an illustration, Siemens offers process instrumentation and gas analytics solutions that effectively boost productivity and efficiency throughout plant operations.

In March 2022, Twelve Benefit Corporation, a US-based company specializing in carbon transformation, joined forces with LanzaTech in an ongoing research and development collaboration aimed at converting CO2 emissions into ethanol. Through the combined expertise of both companies, they have developed a process to produce ethanol, a common alcohol used as fuel and found in various products like hand sanitizers, personal care items, and household cleaning products. Traditional methods of ethanol production involve biological or petrochemical processes, often dependent on fossil fuels like ethylene hydration, which may use crops otherwise designated for food or waste feedstocks. Corn and agricultural materials are frequently used in this process. By utilizing Twelve's carbon transformation technology to convert CO2 to CO, followed by LanzaTech's small Continuous Stirred Tank Reactor (CSTR), these companies have effectively eliminated the need for fossil fuels in ethanol production. This approach enables large-scale ethanol production while simultaneously reducing CO2 emissions, making it a highly scalable and environmentally friendly solution. LanzaTech, a US-based company, specializes in carbon recycling technology.

Major companies operating in the ethyl alcohol and other basic organic chemical market include Archer-Daniels-Midland Company (ADM), Wacker Chemie AG, Celanese Corporation, Valero Energy Corp, Lanxess AG, Evonik Industries AG, Kao Corporation, The Clorox Co, Eastman Chemical Corporation, Atul Limited, HPCL Biofuels Limited, Advanced Bioenergy LLC, Aventine Renewable Energy, Andersons Ethanol Group, British Petroleum, Braskem, Cargill Corporation, Butamax Advanced Biofuels LLC, Green Plains Inc., Flint Hill Resources LP, LyondellBasell Industries NV, INspec Ethylene Oxide and Specialities (INEOS), Mitsubishi Chemical Corporation, Baden Aniline and Soda Factory ( BASF SE), DowDuPont Inc., PPG Industries Inc., Solvay SA, Huntsman Corporation, Ashland Global Holdings Inc.

Asia-Pacific was the largest region in the ethyl alcohol and other basic organic chemical market in 2023. North America was the second-largest region in the ethyl alcohol and other basic organic chemical market. The regions covered in the ethyl alcohol and other basic organic chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the ethyl alcohol and other basic organic chemical market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The ethyl alcohol and other basic organic chemicals market consists of the sales of tall oil and wood distillates, distil coal tars, wood or gum chemicals, naval stores, natural tanning materials, charcoal briquettes, charcoal, cyclic crudes or cyclic intermediates, aromatic petrochemicals, industrial gases, and synthetic organic dyes and pigments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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