Share This Page
Drug Price Trends for HM ETHYL RUBBING ALCOHOL
✉ Email this page to a colleague
Average Pharmacy Cost for HM ETHYL RUBBING ALCOHOL
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| HM ETHYL RUBBING ALCOHOL 70% | 62011-0353-01 | 0.00375 | ML | 2025-05-21 |
| HM ETHYL RUBBING ALCOHOL 70% | 62011-0353-01 | 0.00373 | ML | 2025-04-23 |
| HM ETHYL RUBBING ALCOHOL 70% | 62011-0353-01 | 0.00371 | ML | 2025-03-19 |
| HM ETHYL RUBBING ALCOHOL 70% | 62011-0353-01 | 0.00368 | ML | 2025-02-19 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Ethyl Alcohol
Introduction to Ethyl Alcohol
Ethyl alcohol, commonly known as ethanol, is a versatile chemical with a wide range of applications across various industries, including pharmaceuticals, food processing, personal care, and energy. Here, we will delve into the market analysis and price projections for ethyl alcohol, particularly focusing on its use in products like HM Ethyl Rubbing Alcohol.
Market Size and Growth
The global ethyl alcohol market is experiencing robust growth driven by several key factors. As of 2023, the market size was valued at $561.68 billion and is projected to grow to $601.2 billion in 2024 at a CAGR of 7.0%[1].
By 2028, the market is expected to reach $785.5 billion, growing at a CAGR of 6.9% from 2024 to 2028. This growth is attributed to increasing demand in sectors such as renewable energy and biofuels, pharmaceuticals, chemical manufacturing, and sustainable packaging[1].
Key Drivers of Market Growth
Renewable Energy and Biofuels
The increasing interest in renewable and cost-effective alternatives to crude oil has made ethanol a favorable choice. Government mandates and environmental regulations promoting renewable energy sources are driving the demand for ethanol in the biofuels sector[3].
Food Processing Industry
The growing demand for ethanol in the food processing industry as a solvent and preservative is another significant driver. Ethanol is used in manufacturing alcoholic and non-alcoholic beverages and as a natural product in non-alcoholic beverages[1].
Pharmaceutical and Healthcare
The pharmaceutical industry's growth and the need for advanced formulations are boosting the demand for ethyl alcohol. It is used in manufacturing various medicines, including vaccines, antibiotics, and decongestants[4].
Personal Care and Cosmetics
The personal care industry's increasing demand for ethyl alcohol as a disinfectant and solvent is also a key factor. The rise in skincare product sales and the use of ethyl alcohol in hand sanitizers have significantly impacted market growth[1].
Regional Market Analysis
North America
North America is expected to contribute significantly to the global market growth, with a market share of around 44% during the forecast period. The strong demand for ethyl alcohol as a fuel additive in the automotive sector and the growing pharmaceutical market in this region are key drivers[2].
Asia-Pacific
The Asia-Pacific region dominates the global industrial alcohol market, driven by the increasing adoption of ethanol in fuel and food applications. Countries like China and India are major producers and consumers of ethanol, contributing to the region's growth[3][4].
Price Projections
The price of ethyl alcohol can be influenced by several factors, including the cost of feedstocks, energy prices, and government regulations.
Feedstock Costs
The high availability of feedstocks such as corn, sugarcane, and wheat ensures a consistent supply for ethanol production, which can stabilize prices. However, fluctuations in feedstock prices can impact the cost of ethyl alcohol production[2].
Energy Prices
The volatility of crude oil prices has led to an increased interest in renewable and cost-effective alternatives, which can affect the pricing dynamics of ethyl alcohol. As crude oil prices rise, the demand for ethanol as a biofuel increases, potentially driving up prices[2].
Market Trends
Bio-Based Ethyl Alcohol
The trend towards bio-based ethyl alcohol is gaining momentum, driven by the need for sustainable and renewable resources. This shift is expected to continue, influencing market prices and demand[1].
Digital Transformation
The digital transformation in ethyl alcohol production is improving efficiency and reducing costs. This could lead to more competitive pricing in the market[1].
Circular Economy Initiatives
Circular economy initiatives are promoting the use of ethyl alcohol in sustainable packaging and other applications, further driving market growth and potentially stabilizing prices[1].
Impact of COVID-19
The COVID-19 pandemic led to a surge in demand for hand sanitizers, which increased the demand for ethyl alcohol. This surge resulted in a short-term shortage but also prompted companies to increase production capacity, which is expected to support long-term market growth[4].
Key Takeaways
- The global ethyl alcohol market is projected to grow significantly, driven by demand from renewable energy, pharmaceuticals, food processing, and personal care.
- North America and Asia-Pacific are key regions driving market growth.
- The cost of feedstocks and energy prices are critical factors influencing the price of ethyl alcohol.
- Trends such as bio-based ethyl alcohol, digital transformation, and circular economy initiatives are shaping the market.
FAQs
1. What are the primary applications of ethyl alcohol? Ethyl alcohol is used in various applications, including the production of alcoholic beverages, pharmaceuticals, food processing, personal care products, and as a biofuel additive in the automotive sector[1][2][3].
2. How is the COVID-19 pandemic affecting the ethyl alcohol market? The pandemic has led to a surge in demand for hand sanitizers, resulting in a short-term shortage of ethyl alcohol but also prompting increased production capacity to meet the demand[4].
3. What are the key drivers of the ethyl alcohol market growth? Key drivers include the high availability of feedstocks, volatility of crude oil prices, growing demand in the food processing industry, and increasing adoption in pharmaceutical and personal care applications[1][2][3].
4. Which regions are expected to contribute significantly to the global ethyl alcohol market growth? North America and Asia-Pacific are expected to be significant contributors to the global market growth, driven by strong demand in various sectors[2][3].
5. How does the cost of feedstocks impact the price of ethyl alcohol? The cost of feedstocks such as corn, sugarcane, and wheat directly influences the production cost of ethyl alcohol. Stable feedstock prices can help maintain competitive pricing, while fluctuations can impact market prices[2].
Cited Sources:
- The Business Research Company: Ethyl Alcohol Global Market Report 2024
- Technavio: Ethyl Alcohol Market Analysis - Size and Forecast 2024-2028
- Straits Research: Industrial Alcohol Market Trends, Growth, & Share-2032
- Fortune Business Insights: Industrial Alcohol Market Size, Share, Industry Report, 2032
- MarketsandMarkets: Industrial Alcohol Market - MarketsandMarkets
More… ↓
