Global Methanol Market Influenced by its Diverse Applications

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      Global Methanol Market Influenced by its
Diverse Applications

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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.
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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.
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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/reques
t?typereportid650flagB In the current
scenario, Methanex accounts for the majority of
the total share, representing the worlds 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/20
18/03/20/global-methanol-market-influenced-by-its-
diverse-applications/
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Report Description and Highlights
Report Description

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