The global Industrial Alcohol Market Growth Accelerated by Rising Demand from End-use Industries
Industrial alcohol serves as an important raw material for various chemical processes and end-use applications. It finds usage as solvents in paints, pharmaceutical products, cosmetics, etc owing to its chemical properties. There is an elevated demand for alcoholic products from end-use industries like automotive, construction, personal care amongst others. The global Industrial Alcohol Market is estimated to be valued at US$ 180.75 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rising demand from end-use industries is one of the key factors driving the growth of the industrial alcohol market. Various end-use industries like automotive, paints and coatings, pharmaceutical and personal care have witnessed significant growth in recent years. As industrial alcohol finds wide application as solvent in these industries, the demand from such applicati...