Overview and Scope
The ethyl alcohol is a clear, colorless liquid made through the hydration of ethylene and basic organic chemicals are substances that contain carbon and hydrogen. The ethyl alcohol is highly flammable and contains pleasant odor and burning taste.
Sizing and Forecast
The ethyl alcohol and other basic organic chemical market size has grown strongly in recent years. It will grow from $1303.83 billion in 2023 to $1421.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to industrialization, petrochemical industry growth, consumer product manufacturing, agricultural chemicals, energy sector demand.
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 $1970.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to renewable energy and biofuels, environmental regulations, circular economy initiatives, the adoption of green chemistry principles, health and wellness trends. Major trends in the forecast period include biobased chemicals, specialty chemicals, sustainable packaging, carbon capture and utilization (ccu), personal care and cosmetics.
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Segmentation & Regional Insights
The ethyl alcohol and other basic organic chemical market covered in this report is segmented –
1) By Type: Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals
2) By Grade: Food Grade, Industrial Grade, Cosmetics Grade
3) By End User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries
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.
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Major Driver Impacting Market Growth
Increasing consumption of alcoholic beverages is expected to propel the growth of the ethyl alcohol and other basic organic chemicals market going forward. Alcoholic drinks are those appropriate for human consumption and have a volume alcohol content of 1% or higher. Ethyl alcohol (ethanol) is the primary alcohol found in alcoholic beverages, and it serves as the main psychoactive ingredient. Other basic organic chemicals, such as flavor compounds and sugars, contribute to the taste, aroma, and complexity of alcoholic beverages, enhancing their overall sensory experience. For instance, in 2021, according to the National Institute on Alcohol Abuse and Alcoholism, a US-based alcohol-related researcher, the U.S. ethanol consumption from all alcoholic beverages combined per person in 2021 was 2.51 gallons, up 2.9% from 2.44 gallons in 2020. Furthermore, according to the U.S. Census area, per capita alcohol consumption increased between 2020 and 2021 in the Northeast by 5.4%, the Midwest by 1.6%, the South by 3.4%, and the West by 2.3%. Therefore, the increasing consumption of alcoholic beverages will drive the market for ethyl alcohol and other basic organic chemicals.
Key Industry Players
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.
The ethyl alcohol and other basic organic chemical market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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