Methanol is a liquid which is manufactured mostly through oxidization of methane or through synthesis of carbon monoxide and hydrogen. Methanol is termed as wood alcohol since it depicts properties similar to conventional fuels. Methanol is chiefly utilized as a fuel in vehicles as well as an antifreeze solution in automobiles. It is also used as a feedstock for manufacturing various products such as formaldehyde, acetic acid, MTBE, DME, and others. It is used widely in numerous other industrial applications. It is a volatile, colorless, toxic, and flammable liquid. Globally, methanol is produced at around 90 methanol plants. Most of these methanol plants are located in Asia Pacific, Latin America, North America and others.
Request Copy Of This Business Report:https://www.coherentmarketinsights.com/market-insight/methanol-market-360
Global Methanol Market Taxonomy
The global methanol market is classified on the basis of the following segments:
Oil & Gas
Future Outlook of Methanol Market
Globally, various mixtures of methanol are being utilized as alternative fuel source for vehicles and other applications. This trend is expected to boost the demand for methanol. Derivatives of methanol are widely used for various industrial applications and processes which are expected to boost the demand for methanol in these industries. Applications such olefins, DME, and gasoline blending provide huge growth opportunities for methanol market. Regions such Middle East and Africa and Latin America have also boosted the production of methanol owing to easy availability and low cost of natural gas in these regions. Production of methanol in North America has also increased owing to shale gas boom in the region.
Major Keyplayers: BASF SE, Celanese Corporation, Methanex Corporation, Methanol Holdings (Trinidad) Limited (MHTL), Mitsubishi Gas Chemical Co., Inc. (MGC), Mitsui & Co., Ltd., Petroliam Nasional Berhad (Petronas)
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: [email protected]
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027