Global Synthetic Organic Alcohol Market Size Likely to Surpass at a CAGR of 4.78% By 2033

As per the current market research conducted by CMI Team, the global Synthetic Organic Alcohol Market size is expected to record a CAGR of 4.78% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 13,184.8 Million. By 2033, the valuation is anticipated to reach USD 20,071.47 Million.

Synthetic Organic Alcohol Market: Growth Factors and Dynamics

• Rising demand in Pharmaceuticals: To manufacture pharmaceutical products, synthetic organic alcohols made of petrochemicals are used as a solvent, disinfectant, and a preservative. They also help in formulating a drug by dissolving and stabilizing active ingredients, where for example, ethanol is incorporated in medical tinctures and sanitizers. The demand for synthetic organic alcohols is on the rise in tandem with the growth of the global healthcare system, especially with the need for higher levels of hygiene after the pandemic.

• Expansion of the Cosmetic and Personal Care Industries: Alcohols such as Ethyl and Isopropyl alcohol are used widely in cosmetic products as solvents, preservatives and evaporating agents. They help in the even distribution of active ingredients, assist in texture enhancement, and facilitate the production of sprays and astringents. With the rise of beauty and personal care industries more so in developing regions, the use of synthetic organic alcohols in these applications rises steadily.

• Rising Automotive Industry: The synthetic organic alcohols are incorporated into the automotive products as a fuel additive, an antifreeze agent and other cleaning products. Fuels like gasoline are often mixed with ethanol or methanol to improve their combustibility and minimize fumes. The expansion of the vehicle market globally as well as the quest for better fuel options is enhancing the usage of synthetic alcohols in automotive sector applications.

• Shift towards Green Alternatives: Environmental issues are very hot and both consumers and producers look out for the green options. Green solvents which are for instance synthetic alcohols made from waste materials have smaller carbon footprint than fossil-based chemicals. Eco-friendly production approaches are needed for instance in the case of synthetic alcohols use in solvents, fuel, and disposable products which facilitate market expansion in keeping with sustainability objectives.

• Industrial Demand for Cleaning and Disinfectants: Alcoholic disinfectants are used in healthcare, hospitality industries and homes because they are effective in killing germs within a short time. With the outbreak of the COVID – 19 pandemics, there was increased demand for products containing synthetic organic alcohols such as ethanol and isopropanol which were mainly used in production of hand – sanitizers and surface cleaning products. Continuous introduction of health and hygiene practices within different industries has created lasting demand for synthetic organic alcohols in disinfection products.

• Technological Advancements in Chemical Synthesis: The ultra-modern production methods including catalytic synthesis and state of the art fermentation have rendered the process of making alcohols synthetically economical and more efficient. These technologies minimize waste, enhance output and decrease expenses, thereby opening up the synthetic market to different economies. This in turn provides an impetus towards the development of the market as it helps in maintaining better standards of production with less costs both environmentally and economically.

Synthetic Organic Alcohol Market: Partnership and Acquisitions

• In 2023, Ningbo Refining and Chemical Co. Ltd. (NZRCC) and BASF has signed a technology license agreement for the production of the isononyl alcohol by using the oxo-technology of BASF. The NZRCC construct a 200,000-ton per year INA facility at ZRCC’s complex in Zhenhai, China, which will be started by 2026.

• In 2022, Aemetis entered into an agreement with Alaska Airlines to provide 13 million gallons of Sustainable Aviation Fuel (SAF), which is a blend of 40% SAF and 60% Petroleum Jet A. This blended fuel provides environmental benefits by reducing contrails and reducing carbon emissions.

Report Scope

Synthetic Organic Alcohol Market: COVID-19 Analysis

The market for synthetic organic alcohols witnessed a boon in the sales and consumption of the product under study as a result of the outbreak of the COVID-19 pandemic due to the increased need for disinfectants, hand sanitizers and cleaning agents among others.

Due to its constituents making up alcohol-based hand sanitizers and surface disinfectants, the products in question enjoyed a larger prestigious market following the need for hygiene and disease control. Disinfectant products were utilized more by hospitals, companies and individuals across the globe in a bid to curb the transmission of the virus, hence the high consumption of synthetic alcohols.

Also, the growth was due to the pharmaceutical industry as it increased – synthetic alcohols are used in most pharmaceuticals for drug formulation and preservation. Lastly producers increased production volumes and supply chains evolved to climatic regions to meet the rising global demand – hence the sustained growth of the market in spite of the negative influence of the pandemic.

List of the prominent players in the Synthetic Organic Alcohol Market:

• DuPont de Nemours Inc.
• Clariant AG
• LG Chem Ltd.
• INEOS Group Holdings S.A.
• SABIC (Saudi Basic Industries Corporation)
• Chevron Phillips Chemical Company LLC
• ExxonMobil Chemical Company
• Shell Chemicals Limited
• Eastman Chemical Company
• Mitsubishi Chemical Corporation
• LyondellBasell Industries N.V.
• Celanese Corporation
• The Dow Chemical Company
• Sasol Limited
• BASF SE
• Others

The Synthetic Organic Alcohol Market is segmented as follows:

By Type of Alcohol

• Ethanol
• Methanol
• Butanol
• Isopropanol
• Others

By Application

• Fuel Additives
• Disinfectants
• Solvents
• Antifreeze
• Others

By End Use

• Automotive
• Cosmetics
• Pharmaceuticals
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America