News By Tag
News By Place
Demand for Methanol Climbing in Asia-Pacific
In the coming years, the Asia-Pacific (APAC) region will account for the largest share in the methanol market, globally, due to the flourishing petrochemical industry and rising consumption of methanol-based fuel in Japan, China, and India.
By: P&S Intelligence
Moreover, the mounting demand for methanol-based fuel as alternative automobile fuel, owing to the rising consciousness about increasing air pollution levels, will steer the methanol market growth during 2021–2030. According to P&S Intelligence, the market generated revenue of around $20 billion in 2020. As per the World Health Organization (WHO), air pollution causes around 7 million deaths worldwide every year. This international organization further estimates that 9 out of 10 individuals breathe air that exceeds WHO limits on pollutant content in the air.
Geographically, Asia-Pacific (APC) will lead the methanol market (https://www.psmarketresearch.com/
Thus, the increasing demand for petrochemicals from the construction and automotive industries and the rising public demand for methanol-based fuel will facilitate the usage of methanol, globally.