Market Research Future (MRFR) has published on the “Global Non-Fuel Grade Alcohol Market”.
The Non-Fuel Grade Alcohol market is estimated to register a CAGR of 5.50% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Non-Fuel Grade Alcohol market— Archer-Daniels-Midland Company (US), Cargill Incorporated (US), Sasol (South Africa), Merck KGaA (Germany), CropEnergies AG (Germany), LyondellBasell Industries NV (Netherlands), Pannonia Bio (Hungary), Wilmar Sugar Pty Ltd. (Singapore), Godavari Biorefineries Ltd (India), Solvay (Belgium).
Non Fuel Grade Alcohol Market Highlights
The global Non-Fuel Grade Alcohol market is accounted for to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 29,114.2 million by 2030.
The pharmaceuticals sector is expanding quickly because of rising healthcare costs, an increase in the prevalence of illnesses, and greater public awareness of health issues. Some medications utilize ethanol as a solvent to disperse the active component, and herbal medicines employ it as an extraction solvent. Due to its bactericidal and fungicidal properties, ethanol has also been employed as an antimicrobial preservative.
The pharmaceutical-grade non-fuel alcohol is widely used in the pharmaceutical industry owing to its excellent antiseptic property. It is used by doctors as a sanitizer to rinse (wash) their hands, for sanitizing the patient’s skin before surgery or injecting fluid. Furthermore, it is used as a solvent in drug processing and medical wipes. It is also used in molecular biology for precipitating nucleic acid. The demand for pharmaceutical grade non-fuel alcohol has increased at a significant rate in the pharmaceutical industry, particularly to make hand sanitizers as an effort to control the spread of the novel coronavirus.
The World Health Organization has released recommendations on sanitization techniques during pandemics, advising regular use of disinfectants and sanitizers to stave off viral contamination. Global public awareness campaigns on the value of adhering to appropriate sanitization procedures were run by governments and other health authorities. As a result, the demand for ethanol-containing hand sanitizers, disinfectants, and other sanitization products skyrocketed. The need for ethanol of the medicinal grade increased exponentially as a result. Since the epidemic, there have really been global shortages because of the enormous demand and supply imbalance for medicinal grade ethanol. Distilleries (ethanol factories) responded to the demand created by the epidemic by increasing ethanol output.
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Segment Analysis
The global Non-Fuel Grade Alcohol market has been segmented based on Type, Application and Region.
The global Non-Fuel Grade Alcohol Market segmentation, based on Type has been segmented as Food Grade, Pharmaceutical Grade, Lab Grade, Industrial Grade and Others. Among these, the Food Grade type is anticipated to dominate the global Non-Fuel Grade Alcohol market revenue through the projected period as estimated by MRFR analysts.
The market for non-fuel grade alcohol is primarily driven by the expanding alcohol business due to rising alcohol use, rising disposable incomes, a rise in party culture in metropolitan regions across the world, and the expansion of clubs, lounges, and bars. Moreover, the growing customer demand for branded liquors over national liquors has aided in the rise of the non-fuel grade alcohol market across the globe.
In Application segment, the market is categorized as Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Chemical Solvent and Others. Out of which the Food & Beverages segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. Non-fuel grade ethanol is often used as a food additive to evenly spread food coloring and to enhance the flavors of food extracts. The significantly growing food and beverage industry owing to the changing consumer preference towards varied types of food and beverages will boost the product market demand. Thus, the use of Non-Fuel Grade Alcohol from the food & beverage sector is increasing and is anticipated to escalate in the coming years.
Regional Analysis
By Region, the non-fuel grade alcohol market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Europe Non-Fuel Grade Alcohol market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. The surge in demand for disinfectants and hand sanitizers owing to the rising awareness among the population regarding health and hygiene will augment the demand for non-fuel grade alcohol as. It is an essential ingredient in these products due to their ability to kill germs and bacteria effectively. Further, non-fuel grade alcohol is an important solvent used in numerous manufacturing industries and chemical processes. Also, the application of the product in as a solvent for essential oils and numerous other ingredients in cosmetics products will drive its market from cosmetics and skin care industry.
Key Findings of the Study
- The global Non-Fuel Grade Alcohol market is expected to reach USD 29,114.2 million by 2030, at a CAGR of 5.50% during the forecast period.
- The Europe region accounted for the fastest-growing global market.
- Based on Type, the Food Grade segment was attributed to holding the largest market in 2022.
- Based on Application, the Food & Beverages segment was attributed to holding the largest market in 2022.
- Archer-Daniels-Midland Company (US), Cargill Incorporated (US), Sasol (South Africa), Merck KGaA (Germany), CropEnergies AG (Germany), LyondellBasell Industries NV (Netherlands), Pannonia Bio (Hungary), Wilmar Sugar Pty Ltd. (Singapore), Godavari Biorefineries Ltd (India), Solvay (Belgium) are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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