Globally, the Asia-Pacific  methanol market is expected to generate the highest revenue during the forecast period

Rising Automobile Production Will Drive the Methanol Industry

The methanol market is growing at pace. This can be ascribed to the increasing usage of methanol in the manufacturing of petrochemicals, including, acetic acid, olefins, methyl tert-butyl ether/tert-amyl methyl ether, dimethyl ether, formaldehyde, and solvent.

Furthermore, there is a surge in the need for methanol-based fuel, as it is one of the substitute fuels for automobiles, which would help to keep the environment green and clean.

Based on feedstock, the methanol industry is divided into coal, natural gas, and heavy liquid. Between these, the natural gas category held a substantial share. This can be credited to the increased use of natural gas for the creation of methanol. Likewise, the production procedure of natural gas is economical and easy.

In APAC, the demand for petrochemicals is growing aggressively, which would eventually contribute to the 

. In the petrochemical market, methanol is extensively used in the creation of DPT, DME, acetic acid, and formaldehyde.

Furthermore, burning of coal is not food for the environment and increases the level of pollution, which has an adverse effect on the usage of such products like feedstocks. Thus, businesses are on the lookout for some efficient and sustainable approaches for producing methanol from biomass. 

Therefore, the growing usage of methanol in the manufacturing process of petrochemicals will drive the demand for methanol all over the world, in the near future.

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