Ethanol derivatives are commonly used as biofuel, solvent, and food additive. They are used as excipients in pharmaceuticals and as intermediates in organic synthesis. Demand for healthy and nutritious food has increased usage of ethanol derivatives as nutraceutical ingredients.
The global Ethanol Derivatives Market Share is estimated to be valued at US$ 10.2 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the ethanol derivatives market is their increasing usage as nutraceutical ingredients. Ethanol derivatives such as fatty acids, ethyl esters, and polyols are used in food supplements, functional food & beverages, and pharmaceuticals due to their medicinal properties. Fatty acid ethyl esters possess anti-inflammatory and cholesterol-lowering effects. Polyols help in weight management as a sugar substitute. Hence, vast health benefits of ethanol derivatives have boosted their demand from nutraceuticals industry. Growing health awareness among consumers is further augmenting the market growth.
Segment Analysis
The global ethanol derivatives market is dominated by the ethyl acetate segment. Ethyl acetate finds wide usage as a solvent in industries such as paints & coatings, inks, pharmaceuticals, and food & beverages. As a solvent, ethyl acetate provides characteristics such as fast evaporation, low toxicity, high solvency, and compatibility with various substrates. This has resulted in the ethyl acetate segment accounting for over 30% of the overall ethanol derivatives market share.
Key Takeaways
The global Ethanol Derivatives Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from end-use industries such as food & beverages, plastics & fibers, pharmaceuticals and personal care.
Regional analysis
Asia Pacific dominates the global ethanol derivatives market and is expected to grow at the fastest rate during the forecast period. This can be attributed to high demand from the thriving end-use industries such as food & beverages and pharmaceuticals in the region. Countries such as China and India serve as major consumers of ethanol derivatives in Asia Pacific.
Key players
Key players operating in the ethanol derivatives market are Archer Daniels Midland Company, Green Plains Inc., POET LLC, Valero Energy Corporation, Cargill, Incorporated, Pacific Ethanol Inc., Flint Hills, Resources, The Andersons, Inc., Greenfield Global, LyondellBasell Industries N.V. Archer Daniels Midland Company and Cargill Inc. are the largest producers of ethanol derivatives globally.
For More Insights, Read- https://www.ukwebwire.com/increasing-use-of-ethanol-derivatives-in-various-end-use-applications-share-analysis/
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