Global Methanol Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030

Methanol is the simplest form amongst the long series of organic compounds known as alcohols. It is also known by the name of methyl alcohol or wood alcohol, and is characterized by a light, colorless, volatile, and flammable liquid with an odor resembling ethanol or drinking alcohol. Methanol extensively finds its use in industrial chemicals acting as a precursor when manufacturing Dimethyl Ether (DME), formaldehyde, Methyl Tert-Butyl Ether (MTBE), olefins, biodiesels, and others.

Pure Methanol is vastly used in manufacturing, everyday used products like Perfumes, plastics, resins, health care, and beauty products, pharmaceutical products. As a provision to mitigate the high CO2 emission rates due to the use of conventional fuels, renewable methanol production technology is stationing itself as a proven technology. Conventional transportation fuels due to their hazardous impacts on the environment, require an alternate fuel source. Bringing methanol into the scenario, as an appropriate alternative fuel. Crude oil is the main raw material deployed in methanol product manufacturing. Fluctuation in crude oil prices directly affected methanol production all over the globe. Petrochemicals demand worldwide is growing exponentially in the backdrop of various beauty and healthcare industries inculcating petroleum as a base for products.

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