Expanding Petrochemical Sector Propelling Methanol Demand psmarketresearch.com
Globally, the Asia-Pacific methanol market is expected to generate the highest revenue during the forecast period, primarily on account of the escalating demand for petrochemicals in the region. The petrochemical industry uses methanol in the production of acetic acid, formaldehyde, and DME. Moreover, the surging consumption of methanol-based fuel in India, China, and Japan will drive the demand for the chemical. Additionally, the accelerating automobile production, rising construction activities, and flourishing electronics industry in China and India will supplement the market growth.
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