The global industrial alcohol market was valued at USD 93.4 billion in 2020 and is projected to reach USD 112 billion by 2025, recording a CAGR of 3.7% during the forecast period. Growing consumer demand for petrochemicals and commercialization of alternative fuels in emerging economies such as India, China, and Brazil have fueled the market growth of industrial alcohol.
The industrial alcohol market is dominated by a few globally established players such as Sigma-Aldrich (US), Univar Solutions (US), Cargill (US), Raizen Energia (Brazil), and MGP Ingredients (US). Major players are focusing on investing in production capacity expansion, in order to meet the increased demand for industrial alcohol from chemical and fuel industries.
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Sigma-Aldrich (US) held the majority of the global industrial alcohol market share in 2019 given its strong product portfolio. The company manufactures all types of Industrial alcohol suitable for various applications ranging from analytical (both diagnostic and chemical) use to food-grade applications. Due to its vast portfolio, Sigma-Aldrich offers laboratory support for academic research and offers its products for various industries. Ranked second, Univar Solutions Inc. (US) provides Industrial alcohol products that cater to a variety of industries such as pharmaceuticals, paints, coatings, personal care skincare, and cosmetics. The alcoholic products are manufactured under the food ingredients & products division, which holds around 6% in the business revenue mix currently. MGP Ingredients (US) is considered to have the third largest share in the global industrial alcohol market. Under the distillery segment, the company processes corn, and other grains to manufacture food-grade alcohol and distillery co-products, such as distillers feed, fuel-grade alcohol, and corn oil. The distillery product division held around 82% of the company’s business revenue mix, with an annual revenue of USD 297.2 million in 2019.
Sigma-Aldrich, Co. LLC merged its services with Merck KGaA (Germany) in 2015 and operates as the life science business segment of Merck. With an extremely wide range of more than 400 products, the company offers laboratory support for academic research and offers its products for various industries such as agriculture, biopharmaceuticals, chemical manufacturing, clinical diagnostics, cosmetics & personal care, diagnostic manufacturing, environmental & IH, flavors & fragrances, food, forensics testing, medical materials, pharma manufacturing, and pharma research. The company has mobilized a global task force to actively evaluate the overall supply chain of its products and key raw material suppliers to mitigate any potential disruption with products and services.
Univar Solutions Inc. is primarily in the business of wholesale-chemicals & allied products. It acquired Nexeo Solutions (US) in March 2020, strengthening its position as a leading global chemical and ingredient solutions provider; the combined company conducts business as Univar Solutions. Further, its expanded geographic reach (130 countries) gives it the ability to provide industry-leading sourcing options from around the world.
Industrial Alcohol Market by Type (Ethyl Alcohol, Methyl Alcohol, Isopropyl Alcohol, and Isobutyl Alcohol), Source (Sugarcane & Bagasse, Corn, Grains, Molasses, and Fuels), Application, and Region – Global Forecast To 2025
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