The Global Ethanol Derivatives Market Growth is Accelerated by Rising Usage in Automotive Industry
Ethanol derivatives finds wide application in automotive, personal care & cosmetics, pharmaceuticals and other industrial sectors. Ethanol derivatives such as ethyl alcohol, ethyl acetate and glycol ethers are extensively used as solvents in paints, varnishes, and lacquers used in automotive refinishing. Ethanol derivatives also provide safe, renewable and affordable alternatives to toxic petroleum solvents. The global Ethanol Derivatives Market is estimated to be valued at US$ 10.2 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The use of ethanol in fuel blends like E10 and E15 has witnessed significant growth in the recent past, especially in the United States and Brazil. Ethanol blended fuel provides advantages like cleaner combustion, domestic production source, and price stability. The increasing production of flexible fuel vehicles (FFVs) co...