Methanol Market Report Overview
The methanol market is to grow at a high CAGR Of 5.11% during the forecast period 2024-2031
Methanol is a colorless, volatile, flammable, and toxic liquid chemical with the formula CH₃OH (also known as MeOH). It is primarily produced through the destructive distillation of wood and synthesized from carbon monoxide and hydrogen. Methanol is widely used in organic synthesis and serves as a fuel, solvent, and antifreeze.
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Methanol Market Dynamics
The growing demand for petrochemical products across industries such as packaging, textiles, plastics, construction, healthcare, and transportation is a key driver of the global petrochemical industry's expansion. Products like ethylene, vinyl, styrene, propylene, benzene, xylene, butadiene, toluene, and methanol are seeing increasing demand.
Methanol, in particular, is expected to experience significant growth in the coming years due to its wide range of end-use applications. In China, methanol has successfully been adopted as a transportation fuel, with various methanol blends, from M3 to M85, being utilized in filling stations and flexible fuel vehicles.
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Methanol Market is segmented
by Derivatives: Formaldehyde, Acetic Acid, Gasoline, DME, MTBE and TAME, and Others
by End User: Automotive, Construction, Paints and coatings, Electronics, and Others
by Region: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
Methanol Market Companies
· Mitsubishi Gas Chemical Company, Inc.
· Celanese
· NAUTICAL
· BASF SE
· Methanex Corporation
· Clariant
· Enerkem
· OCI NV
· Oberon Fuels
· Solvay Deutschland GmbH
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