Methanol Market Overview:
Methanol Market is expected to touch more than USD 61 Billion by 2022 with a CAGR of around 7.5%.
Methanol has many industrial applications and is also found in a number of household products including varnishes, antifreeze, windscreen wash, and fuel for model aircraft. Every day approximately 225 million litres of methanol is used globally. Methanol is used to produce other chemical derivatives, which in turn are used to produce thousands of products that touch our daily lives.
Methanol (also known as methyl alcohol, wood alcohol, wood spirits and carbinol), is a widely available chemical which has physical and chemical characteristics similar to that of conventional fuels. Methanol Market is growing with the rapid pace; mainly due to the expanding automotive industry. According to a recent study report published by the Market Research Future, the global market of methanol is prospering and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2018 – 2022).
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Methanol Market Key Players:
Some of the key players in this market are BASF SE, SABIC, Mitsubishi Gas Chemical, Mitsui & Co., Celanese Corporation, Methanex Corporation, Reliance Industries, Gujarat Narmada Valley Fertilisers & Chemicals, Methanol Holdings, Petronas and among others.
Methanol Market Regional Analysis:
Geographically, Asia-Pacific region holds the major portion of global methanol market. China is the leading country in the market owing to growing olefins production in methanol plants. Increasing consumption of the product in construction, automotive, paints & adhesives, pharmaceutical and electronics has boosted the methanol market demand in China, India, Japan and Malaysia. North America has witnessed significant growth owing to ample availability of natural gas reserves. Additionally, the European region has witnessed a stagnant growth due to insufficient raw materials available in the market. Therefore, the manufacturing units are shifted from Europe to developing countries owing to low labour costs.
Methanol Market Competitive Analysis:
Methanol Market appears to be competitive with the presence of several large and small players operating in the global market. These major players are competing in the market on the basis of price, type, quality, technology and innovation. Methanol market is augmented to grow at a higher growth and likely to attract many entrants in the market resulting in to healthy competition in the future. Manufacturers operating in the methanol market are striving to respond to the growing demand for the product in automotive, construction, aviation and others. They ensure to produce best quality products based on derivatives, efficiency, performance and factors that are trending in the market.
Methanol Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Methanol Market
Methanol Market Table of Content to be Continue….,
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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