According to the report analysis, ‘Global Methanol Industry Outlook To 2022 – Capacity And Capital Expenditure Forecasts With Details Of All Active And Planned Plants’ states that the global methanol capacity is predicted to experience considerable growth over the next eight years from about 130 mtpa in 2017 to more than 240 mtpa by 2026. Moreover, with the increase in demand some of the major key leading players are investing more for improving the usage of methanol in the near future which lead the market growth in the forecast period. Whereas, NW Innovations Works Inc, China Petrochemical Corp, and IGP Methanol LLC are the major top three key players in terms of planned and introduced capacity additions around the globe over the outlook period. Not only has this, the report also consist the relevant information which includes the global methanol capacity outlook by region and country, potential share of the major methanol producers across the globe and the capital expenditure outlook of methanol by region across the globe. Moreover, the effective policies and expansion of strategies of the leading players of the methanol global market is witness of significant growth in the near period. The report also involves the key players such as suppliers, competitors and consumers on the basis of region and country.
The current scenario and effective usage of methanol in the numerous industries represent the significant growth. Whereas, the Methanol is also known as methyl alcohol which is mainly produced industrial by hydrogenation of carbon monoxide. Methanol is broadly used in numerous industries directly or as a raw material for the making of chemicals, plastics and liquid fuels. Moreover, with the establishment of new policies and new regulations to control the discharge of harmful gases has developed in the increased need for biofuels. However, the Methanol is far toxic than ethanol. Methanol is having so many applications across the market differently which make the market more competitive and effective. Not only has this, the methanol is also classified into the different segments of the market therefore, in the coming years it will have a significant growth across the globe and it is expected that the Asia Pacific region will dominate the highest share.
The demand of methanol has expanded by the industries which are using the methanol in a large amount for manufacturing the products. In addition, more than 70 planned and announced methanol sites are predicted to come online, essentially in the Middle East and Asia over the next eight years. Furthermore, with the more research and development in this industry across the globe plays an effective role in the growth of the methanol. With the increase in the population and more development in the economy has led the demand for the methanol around the world. Therefore, with the emergence in the economy the competition is going increase and makes the key players more active in this industry which drives the demand and lead to more consumption. Hence, in the coming years it is expected that the industry of methanol will grow more positively across the globe over the recent years.
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Ankur Gupta, Head Marketing & Communications