According to IMARC Group’s latest report, titled “Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global methanol market reached a value of US$ 32.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 44.7 Billion by 2027, exhibiting a CAGR of 5.3% during 2022-2027.
Methanol (CH3OH) is a colorless, light, volatile, and flammable polar aliphatic alcohol with a distinct odor produced by the distillation of wood. It can also be industrially synthesized through the catalytic reduction or hydrogenation of carbon monoxide. Methanol is toxic, due to which it is blended with ethyl alcohol to produce denatured alcohol. Apart from this, it exhibits a low evaporation rate and high radiant heat energy and is soluble in water, alcohol, ether, and ketones. Consequently, methanol finds extensive applications in medications, paints, coatings, solvents, resins, and fragrances.
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Methanol Market Trends:
The widespread adoption of methanol in the marine sector as a suitable clean-burning transportation fuel due to lower production costs, safe use, and reduced risk of flammability than gasoline-based oil is primarily driving the market growth. Moreover, the increasing need for petrochemicals in the construction and automotive industries has facilitated the use of methanol to produce methyl tertiary butyl ether (MTBE) that improves air quality, which is acting as another growth-inducing factor.
Furthermore, the escalating utilization of methanol in wastewater treatment plants to clean water and break down harmful nitrates through the denitrification procedure is propelling the market growth. Besides this, the escalating product incorporation in electronic appliances and ongoing collaborations amongst key players to engineer masks, disinfectants, medical gowns, and pharmaceutical drugs are supporting the market growth.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market.
Key Market Segmentation:
The report has categorized the market based on application.
Breakup by Application:
- Formaldehyde
- Dimethyl ether
- Gasoline
- Chloromethane
- MTBE/TAME
- Acetic acid
- Others
Regional Insights:
- China
- Asia-Pacific (excluding China)
- Europe
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Related Reports by IMARC Group:
North America Methanol Market: https://bit.ly/3WhatrN
Toluene Market: https://bit.ly/3jit7AN
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