Ethanol known as ethyl alcohol or grain alcohol is a flammable, colorless, mildly toxic chemical compound with a distinctive perfume –like odor, and the ethanol is found in alcoholic beverages. In common usage, it is often referred to simply as alcohol. Natural energy resources such as petroleum and coal have been consumed at high rates over the last decades. The heavy reliance of the modern economy on these fuels is bound to end, due to their environmental impact (and the corresponding pressure of society) and to the fact that they might eventually run out.
Ethanol is a volatile, flammable, clear, colourless liquid. Ethanol is a good sovent. It is also used as a germicide, beverage and antifreeze, fuel, depressant and chemical intermediate. It can be made by the fermentation process of material that contains sugar or from the compound which can be converted to sugar. Yeast enzyme readily ferment sucrose to ethanol.
Global ethyl alcohol market is expected to rise with the CAGR of about 7.5% during forecast period 2017-2024
Rising application of ethyl alcohol as biofuel is one of the major factor that contributes to the growth of global ethyl alcohol market during forecast period. Also, increasing adoption of ethyl alcohol across various end-user sectors also promotes the growth of global ethyl alcohol market. However, advent of hybrid electric vehicles and rise in price of raw materials used in manufacture and production of ethyl alcohol are some of the major factors restraining the growth of global ethyl alcohol market during forecast period.
Geographically, global ethyl alcohol market report has been segmented in regions such as North America, Asia Pacific, Europe, and Rest of World. North America is expected to dominate the ethyl alcohol market during forecast period due to growth in the production of ethyl alcohol, increasing exports of ethyl alcohol across the countries of region such as United States and Canada, etc.
However, Asia Pacific is expected to emerge as the fastest growing region in ethyl alcohol market during forecast period owing increasing disposable income of the consumers, increasing demand for ethyl alcohol to be used as a fuel, wide scale adoption of ethyl alcohol across different end user sectors of the region, etc.
Ethanol being a renewable resource of energy is probably a cleaner alternative to fossil fuels. Demand for Ethanol is increasing day by day due to its versatile application and utility. To meet the acing demands, production of Ethyl Alcohol or Ethanol through fermentation is gaining momentum and acclamation globally.