Methyl Alcohol Market to Reach a Revenue of US$ 77.6 Bn by the end of 2032

Methyl Alcohol Market 2022

The global Methyl Alcohol market is currently valued at US$ 43.5 Bn and reach a revenue of US$ 77.6 Bn by the end of 2032. Global consumption of methanol is projected to increase at 6% CAGR between 2022 and 2032, on a value basis. Growth of the automotive & transportation, building & construction, and chemical industries are expected to bolster the demand growth for methanol.

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Methyl Alcohol is emerging as an alternative fuel for the marine and manufacturing industries. Increased awareness of low-emission fuels and regulatory changes are promoting new applications of methanol as a fuel. Methanol is added to fuel with the goal of reducing harmful gas emissions from vehicles. The growing trend of carbon neutrality and sustainability has forced companies to promote fuel mixing. Growing fuel blending targets and increasing government initiatives to promote fuel blending are expected to benefit alternate fuel products, including methanol, over the coming years.

Methyl Alcohol Market Key Companies-

• METHANEX CORPORATION
• SABIC
• BASF SE
• MITSUBISHI GAS CHEMICAL COMPANY, INC.
• Mitsui & Co., Ltd.
• BioMCN
• Celanese Corporation
• Petroliam Nasional Berhad (PETRONAS)
• Metafrax Group
• Saudi International Petrochemical Company (Sipchem)
• Methanol Chemicals Company (Chemanol)
• Deepak Fertilzers and Petrochemicals Corporation Limited
• Qatar Fuel Additives Company
• Gujarat Narmada Valley Fertilisers & Chemicals
• Anhui Ruibai New Material Co., Ltd.

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Key Takeaways from Methyl Alcohol Market Study

• The formaldehyde segment is estimated to witness a CAGR of 6.9% during the assessment period (2022-2032).

• The chemicals end-use industry is estimated to remain a lucrative segment in the methanol market and exhibit 5.8% CAGR during the forecast period.

• The U.S. is projected to create an incremental opportunity of US$ 3.5 Bn by 2032.

• Under the feedstock segment, natural gas is anticipated to witness a CAGR of 6.2% over the decade.

"Key companies are focusing their efforts on research and development to develop and explore new applications of methanol, which is expected to open up new opportunities in the global methanol market," says a Persistence Market Research analyst.

Conclusion

Owing to the increasing demand from various end-use industries such as building & construction, automotive & transportation, chemicals, and many others, the methanol market is projected to expand rapidly in East Asia and Europe.

East Asia is anticipated to be the largest consumer of methanol. High production of methanol products in countries such as China and Japan justifies the regional market share.

Growing demand for various methanol derivatives at never-before rates across the world is being witnessed. Moreover, there is robust growth in demand for various methanol derivatives and fuel blending in India.

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Key Questions Answered in This Report.

• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?

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