In New York, ReportLinker reported that the global methanol market is expected to grow from $30.9 billion in 2023 to $38 billion by 2028.
According to the report, the global methanol market will expand at a CAGR of 4.2% during the period.
The increasing demand for methanol for various derivatives such as formaldehyde, MTO/MTP, gasoline, among others is propelling the growth of this market, ReportLinker said.
“Asia Pacific region is projected to register the highest CAGR in the methanol market from 2023 to 2028.The increasing demand for UF/PF resins and increasing methanol usage as an emerging fuel for automobiles are the key factors expected to drive the demand for methanol during the forecast period.”
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