Industrial Alcohol Market Is Likely to Experience a Tremendous Growth by 2030
Industrial Alcohol Market is projected to be worth USD 240.23 Billion by 2027, registering a CAGR of 10.2% during the forecast period (2021–2027). Industrial Alcohol Market experiences high demand from diverse industries such as automotive, chemical, pharmaceutical, and others since it has multiple advantages. Industrial alcohol can be used as an antimicrobial agent, solvent, and biofuel which supports the growth of the industrial alcohol market. Industrial alcohol is used for a broad spectrum of uses. Stringent emission norms and regulations mandating the use of ethyl alcohol as a biofuel blend with petroleum fuels have spurred the growth of the global industrial alcohol market. Owing to raising awareness regarding greenhouse gas emissions, ethyl alcohol is gaining prominence as a biofuel as they are cleaner-burning fuel than diesel and pure gasoline. Industrial alcohols are also used in the food and beverage industries too. In the pharmaceutical industry, industrial alcohol is used i