Ethanol is one of the most commonly used form of alcohol. It is used various healthcare products such as sanitizers and other medicines to fight against the outbreak of COVID-19. It is noticeable that since the first case of Corona virus was registered, the doctors are suggesting that alcohol or ethanol can help the people disinfect their house, offices, and other facilities. Owing to these suggestions and pandemic of Corona virus, the global ethanol market is expected to grow substantially in coming years of 2017 to 2022.
“The global ethanol market is expected to grow with a substantial 7.9% CAGR during the tenure of 2017 to 2022. Moreover, during this tenure, the global ethanol market shall reach to the value of US$ 105 Bn by the end of 2022. It is noticeable that the market was flourishing at US$ 71.8 Bn in 2017.” –Transparency Market Research
What Propels the Growth of Global Ethanol Market?
The rapid adoption of alcohol in various countries as a part of mainstream food, is one of the most viable factor that propels the growth of global ethanol market during the estimated time frame. This adoption is the result of growing alcohol consumption in countries like India, China, and various European countries. Moreover, the food and beverages industry is also coming up with various cuisines that are made with the help of alcohol. This also propels the growth of global ethanol market.
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On the other hand, the pharmaceutical industry is also a major contributor in the growth of the global ethanol market. This is because, several healthcare products especially disinfecting products are made by ethanol so that they can kill majority of the germs. Owing to this rising adoption by the healthcare sector and pharmaceutical industry, the global ethanol market shall witness a substantial growth in the coming years of 2017 to 2022.