Global detergent alcohol market has been steadily growing
The global detergent alcohol market has been steadily growing at a CAGR of around 5% over the last few years. The increasing demand for environmental-friendly products and rising disposable incomes are likely to fuel the growth of this market in the coming years. A total of 8,000-kilotons of detergent alcohol were produced globally in 2016 and it is expected that this will increase to 11,500-kilo tons by 2028 with a CAGR of about 4%. In addition, Asia Pacific is projected to be one of the fastest-growing regions during 2019-2025 due to rapidly developing economies such as India and China.
Detergent alcohol is a chemical solvent that contains methanol. It has applications in both household and industrial settings, most typically as an ingredient for paint solvents, or to clean electronic devices such as keyboards. In the past few decades, it has also been used increasingly by hobbyists who refine their own biofuel using this product.
On the basis of type, the global detergent alcohol market is segmented into natural, synthetic and blended.
Natural detergent alcohol, which is also known as ethanol alcohol or grain alcohol, is a type of alcoholic beverage. It was once used medicinally to ease pain and treat ailments such as the common cold. However, it has largely fallen out of favor in recent decades due to its addictive potential.
Synthetic detergent alcohol is produced by chemical reactions. This type of synthetic detergent alcohol has a higher percentage of water and less ethanol than natural types, so they are more suitable for low-ethanol fuels like gasoline. They are derived from petroleum-based chemicals like benzene or ethylbenzene while the natural variety tends to be obtained from coconut oil.
Blended detergent alcohol is a type of industrial-grade cleaning solution that consists of at least 50% ethanol and water. Alcohols are commonly used in this form because they leave surfaces drier than non-alcohol solutions, which reduces the risk of bacterial growth on hard surfaces like floors and machinery.
On the basis of application, the global detergent alcohol market is segmented into household, and industrial.
Detergent alcohol is used in the household to clean dishes, cooking surfaces, and utensils. It can be diluted with water or other liquids like vinegar for a more powerful cleaning solution. Detergent alcohols are used extensively in household cleaning products. Alcohol-based cleaners have a number of advantages over other types, including that they leave surfaces drier and less likely to develop bacterial growth. They also work well on hard surfaces like floors and machinery because the water evaporates quickly without leaving behind residue or streaks.
Liquid detergent alcohol is mainly used in the industry for cleaning and degreasing, which can also be done with other solvents like hydrocarbons. Alcohols are less expensive to use than traditional solvents, so they have gained a lot of traction as an alternative to more toxic substances during chemical spills or accidents. They dry quickly on surfaces and evaporate without leaving any residue behind (a solvent that leaves behind insoluble particles will require the surface’s water content to remove them).
On the basis of region, the global detergent alcohol market is segmented into North America, Europe (including Austria, Sweden, France), Latin America, Asia Pacific countries including japan, hong kong, the middle east & Africa. North America collectively accounted for over one-third of the global detergent alcohol consumption in 2017 due to high demand from industrial cleaners manufacturers such as Clorox Company (US), Ecolab Incorporated. Europe also dominates this industry on account of its higher population and demand for detergent alcohol as a primary ingredient in industrial cleaners.
Industrial applications account for more than one-third of the global market share, with Europe and North America contributing to over two-thirds of this segment. In 2017, household application accounted for 28% of total consumption followed by industrial use (31%) while the Asia Pacific region had 19%.
Further, the Latin American region has also seen an increased consumption due to growth prospects from Brazil and Argentina among others while the Middle East & Africa region is expected to witness sluggish growth on account of low household income across countries like Nigeria, South Africa, and Egypt.
Detergent Alcohol Market forecasts have always been growing at an exponential rate over time due to factors such as increasing focus on hygiene and sanitation practices by consumers globally, rise in disposable income levels worldwide, changing lifestyle trends among emerging economies coupled with urbanization projects across different geographies.
The detergent alcohol market is further expected to register a significant growth rate during the forecast period of 2019-2028. The major drivers for this include increasing disposable income levels, changing lifestyle trends among emerging economies coupled with urbanization projects across different geographies, and increased focus on hygiene by consumers globally. On the other hand, factors such as the availability of substitutes like hydrogen peroxide may hamper demand over time and could negatively affect future revenue potentials from 2021 onward.