According to the report titled ‘Global Industrial Alcohol Market Size study, by Source ( Sugarcane & bagasse, Corn, Grains, Molasses, Fossil fuels, Other sources), by Type ( Ethyl alcohol, Methyl alcohol, Isopropyl alcohol, Isobutyl alcohol, Benzyl alcohol, Others (Sorbitol and maltitol), by Application (Fuel, Chemical intermediates & solvents, Pharmaceuticals, Personal care products, Food, Other applications), by Functionality (Antimicrobial activity, Fragrant/flavoring agents, Solubility, Antifreeze, Flammability & volatility), by Purity ( Denatured alcohol, Undenatured alcohol), by Process technology (Fermentation method, Synthetic method ) and Regional Forecasts 2020-2027’, available with Market Study Report, global industrial alcohol market was valued at USD 90.1 billion in 2019 and is expected to grow with a CAGR of 3.7% during 2020-2027.
 

Surging demand for bioethanol is primarily driving the growth of global industrial alcohol market. In addition, inclination towards renewable resource usage in developing nations, improving economy, and evolving lifestyle are expected to contribute to the overall market outlook.
 

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For those uninitiated, industrial alcohol, mainly ethanol or ethyl alcohol, is a colorless liquid, mostly used as a biofuel across the globe. The product is obtained from several sources such as seeds, molasses, and corn. Industrial alcohol acts as solvent and reagent in chemical, oil, personal care, and medicinal sectors with several industrial applications.
 

Different strategies have been adopted by the main players to attain competitive edge, including investment, alliances and agreements, mergers and acquisitions, product launch, and others, which is stimulating global industrial alcohol industry expansion.
 

However, mandatory regulatory approval for using ethanol is likely to hamper the industry remuneration in the ensuing years.
 

Citing the geographic terrain, worldwide industrial alcohol market sphere is segmented into Asia Pacific, Europe, Latin America, North America, and Rest of the World. The report claims that North America presently holds a significant market share and is poised to accrue notable gains over estimated timeframe, owing to massive production and export of ethyl alcohol in the United States.
 

Meanwhile, Asia Pacific industrial alcohol industry size is slated to grow substantially through 2027, on account of increased production and consumption of methyl alcohol and ethanol in China and India.
 

Major players influencing global industrial alcohol market dynamics are Green Plains Inc., Cristalco SAS, The Andersons Inc., GreenField Specialty Alcohols Inc., Cargill Inc., Grain processing Corporation, Royal Dutch Shell Plc, Sigma-Aldrich Corporation, MGP Ingredients Inc., and Raizen Energia S.A.