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Rectified Spirit Market- Covid-19 Impact, Outlook and Key Insights, 2021-2031

 

Rectified Spirit: Introduction

 

·         Rectified spirit is also known as neutral spirit in the form of ethyl alcohol. It is an industrial alcohol used for different applications. The ethanol is purified through repeated distillation process, which is known as rectification. In most countries, rectified alcohol is known as denatured alcohol.

·         Rectified spirit in undiluted form contains 95% alcohol by volume (ABV). The practical limit of high purity consists of 97.2% ABV. The neutral spirit is primarily made from agricultural grains such as corn, grapes, tubers, sugarcane, and other fermentable plant materials. Large quantities of rectified spirit is primarily distilled from wines in vineries.

·         Rectified spirits are primarily employed in applications such as liqueurs, brandy, and blended whiskey. They are also used in alcoholic punch, cocktails, and mocktail drinks in bars and restaurants in several countries. Major industrial applications of rectified alcohol include fragrances, flavors, paints, inks, coatings, and personal care products.

Key Drivers of Global Rectified Spirit Market

 

·         Rectified spirit is employed in a broad range of commercial applications including beer production, food processing, and biofuel. Ethyl alcohol is emerging as a major biofuel owing to its excellent chemical properties in the automotive industry. Major countries are shifting from conventional fuel to emerging biofuels for automotive applications. Governments of many countries are reducing dependence on fossil fuels such as petrol and diesel. This is projected to boost the demand for rectified spirit across the globe during the forecast period.

·         Increase in consumption of malted liquors is expected to drive the demand for rectified spirit during the forecast period. Ethanol is one of the prominent additives used in whiskey, rum, and beer products. Rise in demand for liquor products is anticipated to boost the rectified spirit market during the forecast period.

Global Rectified Spirit Market: Segmentation

 

·         The global rectified spirit market can be segmented in terms of product type and application

·         In terms of product type, the global rectified spirit market can be segmented into ethyl alcohol, methyl alcohol, isopropyl alcohol, and isobutyl alcohol. Ethyl alcohol and methyl alcohol segments are expected to expand significantly in terms of volume in the near future.

·         Based on application, the rectified spirit market can be divided into pharmaceuticals, personal care & cosmetic products, beverages, fuels, flavors & fragrances, agricultural chemicals, and others. The fuels segment is expected to hold major share of the rectified spirit market during the forecast period. Developed countries are shifting toward biofuel for commercial transportation in order to reduce their dependence on fossil fuels. This is projected to boost the demand for rectified spirit in the near future.

 

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Global Rectified Spirit Market: Regional Segmentation

 

·         In terms of region, the global rectified spirit market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa

·         Based on application, the rectified spirit market can be divided into pharmaceuticals, personal care & cosmetic products, beverages, fuels, flavors & fragrances, agricultural chemicals, and others. The fuels segment is expected to hold major share of the rectified spirit market during the forecast period.

·         Developed countries are shifting toward biofuel for commercial transportation in order to reduce their dependence on fossil fuels. This is projected to boost the demand for rectified spirit in the near future.

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COVID-19 Impact on the Global Rectified Spirit Market:-

 

·         Demand for rectified spirit is significantly high in fuels, pharmaceuticals, and personal care & cosmetic products. Demand for fuels, pharmaceuticals, and personal care & cosmetic products has been negatively affected during the outbreak of the COVID-19 pandemic. Production of these products has decreased due to lockdown and restrictions on movement of the people. This has adversely affected the global rectified spirit market.

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Key Players Operating in Global Market

 

·         Archer Daniels Midland

·         Cargill Corporation

·         Mitsubishi Chemical Corporation

·         Jubilant Life Sciences

·         Grainotch Industries ltd

·         DALMIA BHARAT LTD

·         Solvay Group

·         Pioneer Distilleries Limited

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