Scienza e Tecnologia
Methanol Market to Hit USD 58.13 Billion at a growth rate of 5.53 percent - Says Maximize Market Research
The report provides an in-depth analysis of the strategies of the top players in the Methanol industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Methanol Market report. It also includes figures for consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor's guide.
Methanol is a light, volatile, colorless, and flammable liquid with a distinctive alcoholic odor. The methanol market plays an important role in the global chemical industry. The market is based on the production, consumption, and trade of methanol which is being used in various sectors. The growth of the methanol market is attributed to its diverse applications across various industries.
The methanol market is competitive with numerous key players in the market including Atlantic Methanol Production Company, Eastman Chemical Company, Methanex Corporation, and Mitsubishi Gas Chemical Co., Inc. among others.
The growth in the demand for hydrogen fuel cells has been driving the methanol market as it is a good hydrogen carrier and packs more hydrogen in only one alcohol molecule that is found within the hydrogen. Also, methanol is liquid at ambient conditions; it is easily handled, stored, and transported using existing infrastructure supporting global trade. In addition, methanol reforms to generate hydrogen on demand, avoid complexity, and high costs related to logistics making methanol a choice for hydrogen fuel cells.
Asia Pacific has been the dominant region in the global methanol market, China particularly being the prominent manufacturer of methanol products. The country has increased the pace of the commercialization of methanol vehicles and leads the world in terms of scale and technology. In addition, the demand for methanol has been increasing as a low-emission fuel option that helps in achieving low carbon emissions. As per the MMR study, India is expected to play a major role in the methanol market as the use of biomass, high-ash coal, and stranded gas is expected to increase methanol production up to 20MT per year by 2025.
The market is expected to reach US$ 356 Mn . by 2027, at a CAGR of 5.2%, with Asia Pacific being the dominant region in the market.
The market was valued at US$ 240.58 Mn . in 2022 and the total revenue is expected to grow at 12.9% from 2023 to 2029, reaching US$ 562.51 Mn .
The market size was valued at USD 90.39 Bn in 2023 and is expected to reach USD 154.92 Bn by 2030, at a CAGR of 8 %.
The market size was valued at USD 133 Bn in 2022 and Steam methane reforming hydrogen generation Market revenue is expected to reach USD 201.3 Bn by 2029, at a CAGR of 6.1 % over the forecast period.
The market size was valued at USD 5.44 Billion in 2023 and the total Chloromethane Market revenue is expected to grow at a CAGR of 5.2 % from 2024 to 2030, reaching nearly USD7.76 Billion .
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.
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