(PharmaNewsWire.Com, January 09, 2018 ) The Latin America Industrial Alcohol Market is worth USD 4.2 billion in 2016 and estimated to grow at a CAGR of 8.7%, to reach USD 6.4 billion by 2021. The Latin America Industrial Alcohol market is developing at an exceptionally quick pace.
Industrial alcohol is a distilled form of ethyl alcohol that is produced and sold for varied beverage purposes. Industrial alcohol is usually distributed in the form of pure ethyl alcohol. Pure ethyl alcohol is used in the chemical laboratories or industries for the purpose of sanitizing, cleaning and other solvent usage. Moreover, this type of ethyl alcohol is also used in medicines, as food ingredient, flavoring and other cosmetic products. In medical sector, industrial alcohol is used in the process of manufacturing vaccines, syrups and antiseptics. Ethyl alcohol, popularly termed Ethanol is volatile, flammable and colorless liquid and is the most widely used biofuel . The production of industrial alcohol is through fermentation and distillation process that requires a certain temperature of heat as energy to develop. Initially industrial alcohol out broke from the growth of alcoholic beverages but now a days it is used as a solvent and synthesizing other chemicals.
The multinational character of industrial alcohol alongside its use in the biofuel has been the significant driver in the market. The utilization of bioethanol in the family unit and other industrial designs are sparing the planet from cruel circumstance like extraction of fuel from the ocean among others. Here, the industrial alcohol is totally denatured before being added to the restorative items, cleansers, solvents and others. However, the fluctuating costs of crude materials limit the industrial alcohol market.
The Latin America market for Industrial Alcohol is segmented on the basis of type, source, and application, purity, processing method, functionality and region. Based on application, the market is segmented into Personal Care, Pharmaceutical, Fuel, Food, Chemical. Based on purity, the market is segmented into Denatured alcohol & Undenatured alcohol. Based on source, the market is segmented into Sugar & molasses, Corn, Grains (excluding corn), Fossil Fuels, Others (whey, cellulosic materials, and algae). Based on Processing Method, the market is segmented into Fermentation Method and Synthetic Method. Based on functionality, the market is segmented into Antimicrobial Activity ,Fragrant/Flavoring Agents, Solubility ,Antifreeze ,and Flammability & Volatility. Based on Type, the market is segmented into ethyl alcohol, methyl alcohol, isopropyl alcohol, benzyl alcohol and others. Ethyl alcohol is the largest used industrial alcohol amongst all these and is used in more applications than any other type of industrial alcohol.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The market is anticipated to keep thriving in both created and creating districts. The huge rise in spending in the has increased the demand for Industrial alcohol.
MGP Ingredients (U.S.), The Andersons Inc. (U.S.), Sigma Aldrich (U.S.), Grain Processing Corporation (U.S.), Cargill (U.S.), Raizen Energia (Brazil), Green Plains Inc. (U.S.), Cristalco (France), Greenfield Specialty Alcohols (Canada), and Flint Hills Resources (U.S.) are the leaders in the Latin America Industrial Alcohol market.
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