ID: MRFR/CnM/6290-CR | 123 Pages | Published By Chitranshi Jaiswal on April 2019
Non-Fuel Grade Alcohol Market Overview
It is seen that the non-fuel grade alcohol market is expected to grow at a high CAGR of 4.26% during the forecasted period from 2021-2030. The demand for Non-Fuel Grade Alcohol is growing because of the rising awareness about the harmful impact on the environment and growing awareness regarding the depletion of fossil fuels among the population. Moreover, the global Non-Fuel Grade Alcohol Market has lucrative growth opportunities due to the changing lifestyles in different developing economies and increasing economy across the various region.
The global Non-Fuel Grade Alcohol Market is spread across various regions like Europe, North America, Latin America, Asia Pacific, and the rest of the world. Of these, the Europe region is expected to generate a CAGR of 4.24% and a USD 7,525.9 million market value from 2018 to 2020. Further, this region is predicted to dominate the global market in the coming years. Moreover, this global market has been segmented based on the application and type.
Some of the major key players in the non-fuel grade alcohol market in the global market are as follows:
Innovation, product development, acquisition, and expansion are the main strategies in the non-fuel grade alcohol industry that are incorporated by these prominent players to sustain in the market and to reach the global market.
Global Non-Fuel Grade Alcohol Market, by Type, 2013-2023 (USD Million)
Sources: MRFR Analysis
COVID 19 Analysis
The global pandemic of COVID 19 has made the lives of individuals miserable. Now one has to fight a battle of economic front and health front. Owing to the global pandemic situation, during the lockdown and post lockdown periods, the market has suffered abruptly and pushed the economy into a forced recession. The global pandemic has lead to the shut down of manufacturing and production units and various supply chains.
It is expected that the non-fuel grade alcohol market in the global market will recover in the second quarter of the coming year.
Owing to an increase in awareness about the depletion of fossil fuels and their harmful impact on the environment has driven the growth of the non-fuel grade ethyl alcohol market in the global market. Also, the growing demand for ethyl alcohol and methyl alcohol in cosmetic and skincare products has boosted the growth of the non-fuel grade alcohol market in the global market. The high demand for non-fuel grade alcohol in the pharmaceuticals industry, inks, and paints industry are the major factors that drive the market share to extreme heights in the global market.
Owing to the growing economy, changing lifestyles in various developing economies has to lead to an increase in the demand of market product. Now ethyl alcohol is used in various industries like perfumes industry, cosmetic industry, and many other industries that act as a great opportunity for the growth of in the global market.
Value Chain Analysis
The non-fuel grade alcohol has made the lives of people easier as non-fuel grade alcohol is used in many days to day products like cosmetics, paints, and in many other household products that even helps in protecting the environment from global warming and hence helps in growing non-fuel grade alcohol market in the global market.
The in the global market is segmented based on type, application, and region.
Based on type
The global market in the global market is segmented based on type into lab grade, industrial grade, pharmaceutical grade, and others. Out of these types, the food-grade dividend has the largest share as compared to other dividends. It is seen that food-grade dividend has a CAGR of 23.9% in 2018.
Based on application
The non-fuel grade alcohol market in the global market is segmented based on application into pharmaceutical, cosmetics and personal care, food and beverages, chemical solvent, and many others. The largest share as compared to other segments is held by food and beverages that has about 50.6%. It is expected to show a high CAGR of 4.36% and to reach USD 11,320.2 million at the end of the forecasted period from 2018-2023.
Based on region
The market in the global market is segmented based on region into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Global Non-Fuel Grade Alcohol Market Share, by Region, 2017 (%)
Sources: MRFR Analysis
The largest share in the market in the global market is held by the Europe region due to high consumption of alcoholic beverages and chemical solvent in various industries has a great market share of about 34% in 2018. This region is expected to value USD 7,525.9 million with an expected CAGR of 4.24% during the forecasted period from 2018 to 2020.
The second-largest share in the market in the global market is held by North America and Asia-Pacific region owing to an increase in the use of alcohol in various industries.
In March 2019
The prominent player Raizen Energia has invested a huge amount of USD 691 million to 2.9 million in enhancing the production capacity in the Brazil-based manufacturing unit. The company has focused on this, intending to increase the market share and enhance the customer demand across the global market.
In July 2020
The prominent player Green Plains has developed Green Plains River LLC, the manufacturing subsidiary. This development has aimed to cater to the rising customers' demand for alcohol-based products and meet the FDA specifications for the FCC-grade alcohol and USP-grade alcohol production.
This non-fuel grade alcohol market in the global market research report consists of the following aspects:
This non-fuel grade alcohol market research report tells about the opportunities and restraints faced by the industry in the global market. The impact of the global pandemic of COVID 19 is also mentioned and when it can recover is also estimated. The function of the non-fuel grade alcohol industry done in the past and the market share is mentioned. Estimation of future CAGR and market value is also mentioned.
The research methodology used in the Global market is the primary research and secondary research along with four other activities that include exhaustive secondary research that includes a collection of information from peer market, parent market. Then this market size is cross-verified through primary research. Both the steps use a top-down and bottom-up approach to cover the market size and data triangulation is used to breakdown data into sub-segments.
Non-fuel grade alcohol manufacturers, suppliers and traders, government bodies, associations, industrial bodies, investors and trade experts, consulting in chemical experts, and others.
|Market Size||USD Significant|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Archer Daniels Midland Company,Cargill, Incorporated,Sasol,Merck KGaA,CropEnergies AG,LyondellBasell Industries Holdings BV, Pannonia Bio,Wilmar Bioethanol,Godavari Biorefineries Ltd.,Solvay AG|
|Key Market Opportunities||Owing to the growing economy, changing lifestyles in various developing economies has to lead to an increase in the demand of market product.|
|Key Market Drivers||Owing to an increase in awareness about the depletion of fossil fuels and their harmful impact on the environment has driven the growth|
The top players in the non-fuel grade alcohol market in the global market are Solvay, Godavari Biorefineries Ltd., Wilmar Bioethanol, Pannonia Bio, LyondellBasell Industries Holdings BV, CropEnergies AG, Merck KHaA, Sasol, Cargill, Incorporated, Archer Daniels Midland Company, and many others.
The non-fuel grade alcohol market is expected to grow at a CAGR of 4.26% during the forecast period.
The European region has the largest share in the non-fuel grade market owing to an increase in demand for food and beverages during the forecasted period from 2021-2030 after that North America, Asia-Pacific, and the Middle East and Africa come.