Methanol Market Set to Hit $38 Billion by 2028, Fueled by Dynamic Feedstock Choices and Diverse Derivatives
The methanol market is projected to grow from USD 30.9 billion in 2023 to USD 38.0 billion by 2028, at a CAGR of 4.2% from 2023 to 2028. The growth in the market is driven by the rising demand in various end-use industries such as automotive, pharmaceutical, construction, among others.
Companies such as Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia), Yankuang Energy...
Methanol Market Evolution: From Chemical Feedstock to Renewable Resource
Methanol, also known as methyl alcohol or wood alcohol, is a colorless, flammable liquid with a chemical formula CH3OH. It’s the simplest form of alcohol and is used as a versatile industrial chemical, solvent, and fuel source. Methanol is produced primarily from natural gas or biomass through a chemical process. It has applications in various industries, including fuel blending, chemical synthesis,...