Methanol Market is Expected to Grow at a CAGR of 4.97% by 2030 chemanalyst.com
Methanol is a polar solvent also known as Wood Solvent. It is volatile, colorless and light liquid which has properties similar to Ethanol, but it is more toxic. It is used in the manufacture of fuel, solvent and antifreeze. The use of methanol still remains popular in the manufacture of formaldehyde, MTO (Methanol to Olefins) and Acetic Acid. About 65% of the total methanol is produced by Natural and 35% by Coal. With the rise in pollution, the need for the environment friendly fuel is increasing every year. Methanol is the best alternatives to reduce carbon footprints. Methanol blending is one of the practices that is gaining popularity because it is approximately 240 times safer than Biodiesel.
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