The global absolute ethanol market is set to gain momentum from its increasing medical application as it is considered to be a recreational drug. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Absolute Ethanol Market Size, Share & Industry Analysis, By Process (Synthetic, Biological), By Application (Pharmaceutical, Chemical, Medical, Personal Care, Cosmetics, Paints & Coatings, Others) and Regional Forecast, 2022-2029.” The report further mentions that absolute ethanol is used as a disinfectant and an antiseptic. It is produced by the petrochemical and biological process.

The COVID-19 pandemic has created an imperative for businesses and governments to take immediate action for protecting their people. The chemical industry has adopted certain ways where companies managed workers in the remote working environment and they did not halt production. They were able to achieve the right balance between keeping plants running and social distancing to deliver the essentials to the society. We have developed an authentic report to help you pave the way towards success.

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How Did We Develop This Report?

Our analysts have conducted both qualitative and quantitative techniques, as well as a blend of primary and secondary sources to collect information about the absolute ethanol market. They have taken information from paid databases, press releases, company journals, and other sources to provide a complete picture of the market for food wrapping papers. To derive information about the competitive landscape, such as collaborations, joint ventures, acquisitions, mergers, partnerships, and acquisitions, they have conducted thorough interviews with prominent figures.

Drivers & Restraints-

Increasing Demand from Personal Care and Cosmetics Industry to Aid Growth

Several end-use sectors, such as paints & coatings,personal care, medical, and pharmaceuticals are demanding for absolute ethanol increasingly. It is set to propel the absolute ethanol market growth in the coming years. Also, the surging usage of this chemical in the personal care and cosmetic industry because of its distinctive smell, colorless, and volatile nature, would aid growth. These are mainly utilized in perfume oils that are found in fragrances and colognes. However, the rising prices of crude oil are anticipated to hamper growth.

Regional Insights-

Presence of Numerous Reputed Manufacturers to Drive Growth in Asia Pacific

Geographically, North America is projected to generate the largest absolute ethanol market share in the coming years. This growth is attributable to the high demand for absolute ethanol from the personal care industry. Asia Pacific, on the other hand, is set to grow rapidly stoked by the presence of a large number of renowned manufacturers in Malaysia, Japan, South Korea, and China. In Europe, the rising fuel consumption would bolster growth.

Competitive Landscape-

Key Players Focus on Producing More Absolute Ethanol to Cater to Demand for Hand Sanitizers

The global market for absolute ethanol houses multiple well-known companies that are currently striving to gain government permission to produce the chemical at a large scale to keep up with the high demand for hand sanitizers worldwide because of the COVID-19 pandemic. Below are the two latest industry developments:

  • April 2020:The HP Government permitted 16 organizations to manufacture more than 150 lakh bulk liters of absolute ethanol, alcohol, and ethyl alcohol for producing hand sanitizers. The government did so to keep up with the high demand amid the pandemic.
  • March 2020: The U.S. government relaxed certain rules and has started allowing manufacturers of ethanol and beverage alcohol to shift production to ethanol-based hand sanitizers for combatting COVID-19.

A list of all the prominent absolute ethanol manufacturers operating in the global market:

  • PetroChina
  • Celanese Corporation
  • Spectrum
  • Mitsubishi Chemical Corporation
  • LyondellBasellIndustries N.V.
  • Other renowned companies

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