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A product made from petroleum is synthetic ethanol. An affiliate of Union Carbide produced synthetic alcohol for the first time in the late 1920s. Ethane, a petroleum byproduct, is hydrated with steam and a catalyst, such as phosphoric acid, to create synthetic ethanol.
With the use of coal, ethylene, a petroleum byproduct, and natural gas, synthetic ethanol may be produced easily. The price of coal-based synthetic ethanol was half that of cane-based ethanol.
Ethylene from petroleum may be converted into ethanol in just one step. The synthetic ethanol plant creates ethanol using ethylene, a petroleum byproduct.
The Global Synthetic ethanol market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The production of synthetic ethanol by INEOS involves a difficult three-stage process that yields a single grade of 99.9% pure ethanol (DRAA – Double Rectified Absolute Alcohol). The full acquisition of Ashland Global Holdings Inc.’s composites business by INEOS Enterprises has been announced. A BDO facility in Germany is also included in the deal.
The companies involved in the transaction generate more than $1.1 billion in annual sales. Over 19 locations in Europe, North and South America, Asia, and the Middle East, they have 1,250 employees.
INEOS Composites will replace Ashland’s Composites Business. As a market leader in unsaturated polyester resins, vinyl ester resins, and gelcoats, it will expand on solid foundations.
The company will keep offering a huge selection of corrosion-resistant fibreglass reinforced plastic (FRP) and gelcoats. The INEOS Solvents division will handle the BDO facility, which manufactures essential intermediates for high performance polyesters and polyurethanes.