Methanol Market Revenue To Rise To US$ 131,344.3 Mn By 2026
The global methanol market depicts a fragmented vendor landscape, notes Transparency Market
Research (TMR). This is due to the active participation of several large, medium, and small players in
the market. Some of the prominent names of the companies in the global methanol market include
SABIC, Methanex Corporation, Mitsubishi Chemical Holdings Corporation., and Mitsui Chemicals.
Various uppermost companies in the global methanol market are highly investing in research and
development for devising cost-effective and efficient techniques in order to produce methanol. Such
strategic alliance further helps in boosting the production of methanol to a high extent. Therefore, it
also serves the enormous demand for the growing applications of methanol. Other growth strategies
adopted by the players to stay ahead of the competitors include mergers and acquisitions. Such joint
ventures help market players in expanding their geographical boundaries along with accentuating
their footprint into the global methanol market.
As per the estimation by TMR experts, the global methanol market is expected to gain an impressive
value of US$131,344.3 mn by the end of 2026. Experts’ project this growth is prophesied to occur at
an impressive CAGR of 5.4% during the assessment period from 2017 to 2026.
From the perspective of end use, the formaldehyde segment showcases the largest share in the
global methanol market and is also expected to boost the market during the forecast period. This is
because of its high use in a wide range of industries such as furniture, construction, textiles, coatings,
and automotive. Region wise, APEJ is expected to lead the global methanol market in the coming
years. This is attributed to high demand for methanol for producing olefins and rapid industrialization
in the region.
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