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 size 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), commonly referred to as wood alcohol, represents a colorless, light, and volatile liquid spirit with a distinctive odor. It is the simplest type of alcohol and consists of a methyl group connected with a hydroxy group. Methanol is prepared by instantly combining carbon monoxide gas and hydrogen in the existence of a catalyst. In addition to this, it has a low rate of evaporation and radiant heat energy and is also miscible in various solvents, such as alcohol, ether, water, ketones, etc. As a result, methanol finds widespread applications as a general solvent and in the manufacturing of pharmaceuticals, resins, perfumes, etc. 

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Methanol Market Trends:

The escalating demand for this liquid in the energy sector to manufacture dimethyl ether (DME), a clean fuel that can be used as a substitute for propane, is among the primary factors driving the methanol market. Besides this, the elevating requirement of wood alcohol in the chemical industry to create formaldehyde and acetic acid, which are also utilized in the production of adhesives, paints, plywood, solvents, foams, plastics, explosives, and antifreeze, is further augmenting the market growth. Moreover, as methanol biodegrades easily and is eco-friendly, it is preferred over several counterparts, including crude oil, gasoline, diesel, etc., which is catalyzing the global market. Apart from this, the growing utilization of methanol as a transportation fuel and antifreeze agent for automobile radiators is acting as another significant growth-inducing factor. Furthermore, the inflating need for wood alcohol in wastewater treatment plants for the denitrification process is expected to bolster the methanol market in the coming years.   

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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

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North America Biofertilizer Market: https://www.imarcgroup.com/north-america-biofertilizer-market

North America Methanol Market: https://www.imarcgroup.com/North-america-methanol-market

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