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Global Methanol Market Influenced by its Diverse Applications

Methanol, also known as wood alcohol or methyl alcohol, is a volatile, clear and flammable liquid with the chemical formula CH3OH. It is the simplest alcohol and one of the most vital chemical compounds shipped around the world. <br><br>Source: https://chemicalmaterial265414441.wordpress.com/2018/03/20/global-methanol-market-influenced-by-its-diverse-applications/

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Global Methanol Market Influenced by its Diverse Applications

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  1. Global Methanol Market Influenced by its Diverse Applications Copyright © IMARC. All Rights Reserved

  2. About IMARC Group Report Description IMARC is a leading advisor on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

  3. Report Description and Highlights Report Description Global Methanol Market Influenced by its Diverse Applications Methanol, also known as wood alcohol or methyl alcohol, is a volatile, clear and flammable liquid with the chemical formula CH3OH. It is the simplest alcohol and one of the most vital chemical compounds shipped around the world. Earlier, methanol was chiefly produced as a by-product of the destructive distillation of wood, whereas it is now manufactured in a catalytic process from hydrogen, carbon dioxide and carbon monoxide. Methanol is widely used in the production of acetic acid, formaldehyde, paints, plywood, plastics, explosives, polyesters, detergents, biodiesel, fungicides, pesticides, insecticides, etc. According to IMARC Group, the global methanol market reached a volume of 75 Million Tons in 2017. Looking forward, the market is expected to reach a volume of nearly 95 Million Tons, exhibiting a CAGR of 4% during 2018-2023. Major Applications Chemical Applications Methanol is chiefly employed as a feedstock in the chemical industry for manufacturing numerous industrial organic chemical products.

  4. Report Description and Highlights Report Description • The majority of methanol is used in the production of formaldehyde, which is further used to form paints, explosives, plastics, polymers, plywood, etc. Other major chemical derivatives of methanol include dimethyl ether (DME) which finds application as an aerosol propellent, and acetic acid which is employed in the manufacturing of terephthalic acid, vinyl acetate and acetic anhydride. Rising demand for methanol and its derivatives in the automotive, furniture, construction and textile industries is propelling the growth of the market. • Fuel Applications • Applications of methanol in the fuel industry currently represent the fastest growing end-use segment. It is used as a fuel in internal combustion engines, including vehicles and aircrafts. It is also mixed with petrochemicals and employed in the production of other fuels including tertiary amyl methyl ether (TAME), dimethyl ether (DME), methyl tertiary butyl ether (MTBE) and biodiesel. Moreover, methanol mixed with nitrous oxide and gasoline produces more power than nitrous oxide and gasoline alone. As a result of this, it is used as the primary fuel source by mud racers and drag racers, and in heavily modified tractor pullers.

  5. Report Description and Highlights China dominates the global production China is the leading producer of methanol in the world, holding the largest market share. Other major producers include Europe, North America, Asia-Pacific (excluding China), Latin America, and Middle East and Africa. Based on the import data, China represents the largest importer of methanol, closely followed by the United States. On the other hand, Trinidad and Tobago are the biggest exporters of methanol. Want more information about this market? Request a free report sample : https://www.imarcgroup.com/request?type=report&id=650&flag=B In the current scenario, Methanex accounts for the majority of the total share, representing the world’s largest methanol manufacturer. Some of the other key players include Southern Chemical Corporation, Saudi Arabian Basic Industries Corp and Mitsubishi Gas Chemical. Source: https://chemicalmaterial265414441.wordpress.com/2018/03/20/global-methanol-market-influenced-by-its-diverse-applications/

  6. Report Description and Highlights Report Description © 2017 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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