The methanol market size will reach $37.1 billion by 2027

According to the Middle East and North Africa Financial News Network reported on September 26, 2022 in Hyderabad, Tylengana State, India, the IndustryARC website predicted in its latest report that the methanol market size is expected to reach $37.
1 billion by 2027, after the market compound annual growth rate (CAGR) of 3.
5%
during the forecast period from 2022 to 2027.

Methanol is also known as alcohol, wood alcohol or wood essence
.
Methanol is an organic chemical and the simplest form of
an alcohol base.
The main feedstocks for methanol are coal, natural gas and renewable energy
.
The world's main available energy sources are coal, natural gas and oil, and the carbon dioxide emissions from these fossil fuels are a major problem for
the greenhouse effect.
Carbon dioxide can be used both directly and as a raw material for the production of materials and chemicals
.

Synthetic methanol is converted from carbon dioxide
.
Methanol is mainly used as a solvent and reactant
in the chemical industry.
According to data released by the International Renewable Energy Agency (IRENA), the direct use of methanol as a fuel has seen a huge increase
.
In 2000, the share of methanol in fuels was less than 1%, and by 2021 it will increase to 14%.

In addition, according to data released by the International Organization of Automobile Manufacturers, the global automotive market grew by 3.
1%
last year compared with 2020.

IndustryARC's latest report provides its complete analysis
of markets, key market segments, growth factors, trends, drivers and challengers, key players, and more.