The Global Market for Methanol is Forecast to Reach 138.5 Million Tons by 2024
Rising Use of Methanol as Safe and Clean Marine Fuel Drives Global Consumption Patterns, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Methanol market . The global market for Methanol is forecast to reach 138.5 million tons by 2024 , driven by the emerging new use of methanol as safe, cost-effective, clean and environment friendly marine fuel. The global methanol market is expected to register steady growth in the upcoming years, driven by new and emerging applications, like Methanol-to-Olefin (MTO) and marine fuel. MTO has become a significant end-use segment for methanol, with demand for the chemical witnessing stupendous growth. Another emerging application is the use of methanol as a marine fuel. Methanol is a clean burning fuel that could serve as a potential alternate fuel for the ships. The use of methanol