Methanol Market Segmentation
Feedstock (Coal, Natural Gas, Biomass & Renewables)
The coal segment is predicted to gain the largest methanol market share of 55.1% during the projected period by 2037 due to its accessibility and economical price, particularly in regions with large coal reserves. The production of methanol from coal via coal-to-methanol resource offers the opportunity to lower the reliance on imported oil and gas. In addition, new production technologies such as Carbon Capture and Storage (CCS) and other methods have allowed for increasingly environmentally stable processes, allowing coal to maintain its position in methanol production.
End use (Automotive, Construction, Electronics, Paints & Coatings, Pharmaceuticals, Agriculture, and Others)
The automotive segment in the methanol market is anticipated to constitute the most significant growth by 2037, with a 37.9% share. The economic growth related to methanol is the result of the increasing use of methanol and methanol-derived products as an alternative fuel in the manufacture of light and heavy vehicles. As a fuel, methanol burns more cleanly than comparable fossil fuels, making it a viable alternative, resulting in decreased greenhouse gas emissions. The methanol derivatives, such as formaldehyde, are utilized in solvent and resin production, which in turn is used for the production of different automotive components in plastics, and improve performance and fuel efficiency.
Our in-depth analysis of the methanol market includes the following segments:
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