Industrial Alcohols Market Is Estimated To Witness High Growth Owing To Increasing Demand for Biofuels
The global Industrial Alcohols Market is estimated to be valued at US$ 180.75 Billion In 2022 and is expected to exhibit a CAGR of 10.2% over the forecast period from 2023 to 2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: Industrial alcohols are used in a wide range of industries such as pharmaceuticals, personal care, food and beverages, and chemicals. They are primarily used as solvents, antiseptics, and as raw materials for the production of various chemicals such as ethyl acetate and butane-1,4-diol. These alcohols offer advantages such as low toxicity, high purity, and excellent solvent properties. The increasing demand for biofuels, which are derived from industrial alcohols such as ethanol and methanol, is driving the growth of the industrial alcohols market. Additionally, the rising consumption of alcoholic beverages is also expected to fuel market growth. Market Key Trends : One of the key trend...