Industrial Alcohol Market Segmented by Types and Application, Geography Trends, Size, Growth Rate Analysis by Share, Industry Scope and Forecast to 2027
The global industrial alcohol market size is expected to experience significant growth by reaching USD 241.42 billion by 2027. The growth is attributable to the increasing demand for renewable energy sources such as biofuels across the transportation industry across the globe. Fortune Business Insights, in its latest report, titled, “Industrial Alcohol Market Size, Share & COVID-19 Impact Analysis, By Type (Ethyl Alcohol, Methyl Alcohol, Isopropyl, Isobutyl Alcohol, and Others), By Source (Sugar & Molasses, Grains, Corn, Fossil Fuels, and Others), By Application (Personal Care, Chemical Intermediates, Food Industry, Pharmaceutical, Fuels, and Others), and Geography Forecast, 2020-2027.”, mentions that the market stood at USD 111.26 billion in 2019 and is likely to exhibit a CAGR of 11.7% between 2020 and 2027. Growing Demand for Industrial Alcohol Product in Pharmaceutical amid COVID-19 to Augment Growth The global pandemic has necessitated the adoption of safe hygien