Global methanol market is anticipated to witness growth on account of its high demand in various end-use industries including paints & adhesives, construction, plastics, pharmaceuticals and automotives. For More Information Visit - http://www.grandviewresearch.com/industry-analysis/methanol-market

1. Methanol Market Analysis, Market Size, Application
Analysis, Regional Outlook, Competitive Strategies And
Forecasts, 2015 To 2022
Global methanol market is anticipated to witness growth on account of its high
demand in various end-use industries including paints & adhesives, construction,
plastics, pharmaceuticals and automotives. In addition, methanol is widely used in
the manufacture of biodiesel which is biodegradable, safe and produces less air
pollutants as compared to other fuels. Supporting government initiatives to reduce
global carbon footprint is anticipated to augment biodiesel demand which in turn is
expected to boost methanol market over the next seven years. Methanol is largely
used as a feedstock in the manufacture of plastics. Growing demand for plastics in
various end-use industries including automobile and packaging is likely to boost
methanol market over the forecast period.
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2. Furthermore, large quantities of methanol are employed in the manufacturing of
other intermediate chemicals after which these intermediates are used in the
production of plastics, plywood, paints, permanent press tiles and explosives.
Rapid growth in the global chemical industry especially in developing economies
including China and India is anticipated to propel methanol demand over the
projected period. Furthermore, on account of depleting crude oil reserves, there is
an increasing demand for alternative transportation fuel which is expected to
augment use of methanol as a blended fuel. Asia Pacific is anticipated to be the
largest market for methanol over the next seven years in light of increasing growth
in the pharmaceutical, automotive and chemical industry. Moreover, lack of
environmental regulations is anticipated to boost methanol market in Asian
countries.

3. Furthermore, presence of large natural gas reserves in North America is likely to
have a positive impact on the methanol market particularly in U.S. over the
projected period. Shift of chemical manufacturing units from Europe to emerging
economies including India and China on account of low labor and manufacturing
costs is anticipated to negatively impact European methanol market. The European
Fuel Quality Directive allows usage of up to 3% methanol along with an equal
amount of cosolvent to be blended in gasoline. In 2012, the U.S. government
passed the Open Fuel Standard Act to primarily encourage car owners to utilize
methanol along with ethanol and gasoline as a fuel.
Major players dominating the methanol market include Celanese Corporation,
Methanex Chile Ltd, Eastman Chemical Company, BASF SE, Atlantic Methanol
Production Company, Mitsubishi, DuPont Fuel Cell, China XLX Fertilizer Ltd and
Antig Technology Co. Ltd.

4. In April 2015, Mitsubishi Gas Chemical Company Inc., Mitsubishi Heavy
Industries and Mitsubishi Corporation signed an agreement with state owned
National Gas Company of Massy Holdings Ltd., and Trinidad and Tobago Ltd. to
construct a methanol plant in the country of Trinidad and Tobago. The main aim
was to increase production capacity of methanol in the country.
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