Methanol, also known as wood alcohol, is a volatile, combustible, colourless and noxious liquid with the chemical formula CH3OH. It is a polar liquid at room temperature and exhibits excellent blending properties. Methanol also has a high octane and oxygen content due to which it produces a cleaner burning gasoline which helps to lower the emissions caused by vehicle exhaust.

New York, NY -- (SBWire) -- 04/25/2017 --Methanol finds broad range of applications in various industries. It is extensively used as a denaturing and anti-freezing agent. It is also used as an industrial solvent for resins and inks, adhesives to wood items, and dyes. Methanol holds a key position in the chemical industry where it is extensively used in the production of formaldehyde, acetic acid, di-methyl terephthalate (DMT) and some other solvents. Additionally, in the energy industry, it can be used either solely as a vehicle fuel or can be blended with gasoline to produce a fuel which is more efficient as compared to the conventional gasoline. According to Expert Market Research, the global methanol market reached a volume of 76 Million Tons in 2016 and is further expected to reach 99 Million Tons by 2022.

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Key findings from the report:

Methanol serves a number of application domains which include formaldehyde, dimethyl ether, gasoline, chloromethane, MTBE/TAME, acetic acid, DMT/others, MTO/MTP, solvents, methylamines and methyl methacrylate. In 2016, formaldehyde production represented the most popular application segment, accounting for nearly 30% of the total share.

Region-wise, China dominated the market with a share of around half of the total global demand. China was followed by Asia (excluding China), Europe, North America and Latin America.

On a competitive front, the global methanol market is fragmented and consists of a number of small and big players operating in the market. In 2016, Methanax represented the world's largest methanol producer followed by SCC, SABIC, MGC, Mitsubishi, PETRONAS, IPCC and Mitsul.

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Expert Market Research has analysed the global methanol market according to applications, major regions and top players:

Market breakup by Applications

Formaldehyde
Dimethyl Ether
Gasoline
Chloromethane
MTBE/TAME
Acetic Acid
DMT/Others
MTO/MTP
Solvents
Methylamines
Methyl Methacrylate

Market breakup by Major Regions

China
Asia (excluding China)
Europe
North America
Latin America

Top players

Methanax
SCC
SABIC
MGC
Mitsubishi
PETRONAS
IPCC
Mitsul

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