Ethyl alcohol and other basic organic chemicals are an extensive class of substances containing carbon & its derivatives. Many of these chemicals comprise hydrogen with or without oxygen, nitrogen, phosphorus, sulfur, and other elements. They exist in either carbon ring or carbon chain form. Acetic acid, ethyl alcohol, aromatic polymers, formaldehyde, methanol, citric acid, and other basic organic chemicals are part of this segment and find their applications in pesticides, plastics, drugs, cosmetics and other products.
The ethyl alcohol and other basic organic chemicals industry includes establishments primarily engaged in manufacturing basic organic chemicals except industrial gases, petrochemicals, and synthetic dyes and pigments.
According to study, “Ethyl Alcohol And Other Basic Organic Chemical Global Market Report 2019” the key companies operating in the global ethyl alcohol and other basic organic chemical market are HPCL Biofuels Limited, Archer Daniels Midland Company, 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, INEOS, Mitsubishi Chemical Corporation, Kirin Holding Company, SABIC, Pacific Ethanol Inc., POET, Sasol Limited, The Andersons Ethanol Group, Solvay Group, Valero, Celanese Corporation, DowDuPont Inc., Raizen, XX. Key players are conducting extensive research and contributing (R&C) to the growth of the market. Players are also exploring other expanses through acquisitions and numerous forms of partnerships as their market strategy for geographical expansion.
Based on type, ethyl alcohol and other basic organic chemical market is segmented into synthetic sweeteners, ethyl alcohol manufacturing, plasticizers manufacturing, silicone (except resins) manufacturing, gum & wood chemicals manufacturing and fatty acids manufacturing. Based on purity of ethyl alcohol, market is segmented into denatured alcohol and un-denatured alcohol. Based on grade type, market is segmented into food grade, cosmetics grade and industrial grade. Based on application, market is segmented into drugs, plastics, pesticides, cosmetics and others. In addition, based on end-user industry, market is segmented into chemical industry, electronics industry, coating & printing industry, food & pharmaceutical industry and others.
The ethyl alcohol and other basic organic chemical market is driven by rise in demand for ethanol as biofuel, followed by large-scale consumption across the end-use industries, rapid industrialization & urbanization, increase in disposable income of consumers, stringent government policies to restrict the usage of fossil fuels and rise in use of ethyl alcohol in beer production and food processing. However, rise in advent of hybrid electric vehicles and increase in awareness about the ill effects of alcohol consumption may impact the market.
Based on geography, the Asian-Pacific region holds major share in ethyl alcohol and other basic organic chemical market owing to presence of many transportation, construction, electrical & electronics companies catering to both its own population and development and to its overseas sales in the region. Whereas, the European and North-American regions are anticipated to witness higher growth rate due to rise in use of ethyl alcohol in medicines, for flavoring, as a food ingredient, and various other cosmetic products over the forecast period. In upcoming years, it is predicted that future of the market will be optimistic as a result of increase in regulations and rise in demand for the food processing industry during the forecast period.
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Ankur Gupta, Head Marketing & Communications