Global Methanol Market Size, Share, Growth Analysis, By Feedstock, By Applicatio

1. Global Methanol Market Size, Share, Growth Analysis, By Feedstock, By Application- Industry Forecast 2023-2030 Global Methanol Market size was valued at USD 30.7 billion in 2021 and is poised to grow from USD 31.74 billion in 2022 to USD 41.48 billion by 2030, growing at a CAGR of 3.4% in the forecast period (2023-2030). Methanol, also known as methyl alcohol, is a colorless, flammable, and volatile liquid. It is the simplest form of alcohol and has the chemical formula CH3OH. Methanol is commonly produced from natural gas, coal, and renewable sources such as biomass and waste. It is a versatile chemical with a wide range of applications. It is primarily used as a feedstock for the production of formaldehyde, acetic acid, and other chemicals. It is also used as a solvent, fuel additive, and antifreeze. Methanol can be blended with gasoline to create a methanol-gasoline blend, which can be used in vehicles that are designed to run on gasoline. It is also used as fuel in fuel cells and in some specialized vehicles that are specifically designed to run on methanol. It has a number of advantages as a fuel and feedstock. It is a relatively low-cost and widely available chemical that can be produced from a variety of feedstocks. It is also less toxic than other chemicals, such as benzene and toluene, which are commonly used in the chemical industry. However, methanol can be highly flammable and toxic if not handled properly, so it must be carefully stored, transported, and used according to strict safety guidelines. Methanol Market Analysis by Feedstock The natural gas feedstock segment dominates the global methanol market, driven by the availability of low-cost natural gas in many regions. Natural gas is the most common feedstock used to produce methanol, accounting

2. for more than 90% of global production. Methane, the primary component of natural gas, is converted into methanol using a process called steam methane reforming (SMR). SMR involves reacting methane with steam and a catalyst to produce synthesis gas (syngas), which is then converted into methanol. Methanol Market Analysis by Application Formaldehyde is the largest application segment of the global methanol market, accounting for more than 30% of the total demand. Formaldehyde is used as a feedstock for the production of resins, plastics, and textiles, among other products. Formaldehyde-based resins are widely used in the construction and furniture industries, as well as in the manufacturing of laminates and composite materials. View More info: https://www.skyquestt.com/report/methanol-market Methanol Market Top Player’s Company Profiles •Celanese Corporation •BASF SE •Mitsui & Co., Ltd. •Reliance Industries Limited •China National Chemical Corporation •LyondellBasell Industries N.V. About us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally. Address: 1 Apache Way, Westford, Massachusetts 01886

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