According to ChemAnalyst report, “Ethanol Derivatives Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Ethanol Derivatives market has shown considerable growth in historic period and is expected to achieve a healthy CAGR of 5.36% during the forecast period. Growing demand of Ethanol Derivatives such as Ethyl Alcohol, Anhydrous Alcohol, High Grade Aerosol Alcohol and others for a variety of industrial applications is anticipated to boost the global Ethanol Derivatives market in the upcoming years. The production of Ethanol Derivatives is highly associated with the safety concerns of environment and human health before it can be further used which also enhances the compliance standards.
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Ethanol with the chemical formula C2H6O is a colorless liquid which is flammable in nature. It is extensively used as a solvent in cosmetics, food colorings, alcoholic beverages, paints, medicines, surgical spirits, aerosol products etc. Due to the increasing demand of Ethanol derivatives from end-user industries, the number of facilities for the production of Ethanol is also increasing. Ethanol derivatives have come into the limelight as they are eco-friendly and affordable in comparison to several crude derivatives. The are widely utilized as key commodity chemicals in various industries including food & beverages, Chemical, Pharmaceutical and others. Growing demand of biobased Derivates of ethanol as a renewable fuel and cleaning agent is expected to augment the global market growth of Ethanol Derivatives during the forecast period.
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Ethanol Derivatives market comprises of a large number of chemical products that are categorized as per their applications and properties. The demand of Ethyl Acetate from the cosmetic industry is also driving the Ethanol market. Ethanol and its derivates are extensively used in automotive industry as a transportation fuel. With rapid urbanisation and industrialization, the demand of renewable transportation fuels for automobiles is expected to accelerate the Ethanol Derivates market worldwide in coming years. Moreover, with the rise in demand from Alcoholic beverages segment would further accelerate the consumption of Ethanol and its Derivatives across the world. Many leading manufacturers are merging with new acquisitions to strengthen the R&D department and improve the product portfolio and market footprint in order to expand their businesses.
In 2020, Due to the consequence of COVID-19, many leading industries of several countries were affected adversely. Leading authorities around the globe caused nationwide lockdown and restrictions and released a set of precautionary measures in order to prevent the spread of corona virus. Manufacturing units halted their operations which caused the disruption in the global supply chain, which led to the market decline. Region wise, Asia Pacific region holds the largest market share of the global demand of Ethanol Derivatives followed by the Europe.
According to ChemAnalyst report, Ethanol Derivatives Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Ethanol Derivatives market include India Glycol Limited, Jubliant Lifecsiences, Jiangu Sopo, Wuxi Baichuan, Showa Denko, Korea Alcohol, NEOS, Sekab Biofuels and Chemicals AB, Braskem, Eatsman Chemical, Zea2 LLC, Calanese Corporation and Others.
“Being linked to the downstream applications in the cosmetic, automotive, pharmaceutical, Food & Beverage industry, the Global Ethanol Derivatives Industry has shown considerable growth along with the increasing population and changes in the costumer preference. It is solely expected that India will become one of the biggest consumer markets of Ethanol Derivatives during the forecast period. In addition, growing per capita income worldwide poised a stronger outlook to the country’s Ethanol Derivatives demand. Due to the crises around the globe, Nationwide lockdowns and government restrictions around the world had affected the global supply chain logistics and caused immediate shortage of key chemicals which led to the increase in the prices of Ethanol Derivatives. Meanwhile, China serves as the major holder with latest technologies. With new competitors emerging across the Ethanol Derivatives market, it is extremely important to keep an eye on which region will grab the biggest market shareduring the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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