Scienza e Tecnologia
Methanol Market to Garner $54.6 Billion, Globally, By 2030 at 5.06% CAGR, Says Allied Market Research
Rise in demand for hydrogen fuel cells, developments in medical sectors, and growth in automotive have boosted the growth of the global methanol market. On the contrary, low production of methanol compared to alternative fuels and increased energy security offered by methanol would open new opportunities in the future.
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By feedstock, the natural gas segment held the largest share in 2021, accounting for more than two-fifths of the global methanol market. However, the coal segment is expected to register the highest CAGR of 6.12% from 2022 to 2030, owing to use of coal as a feedstock for the methanol production to reduce the gap between declining fossil fuel supplies and boost the hydrogen economy thereby reducing the carbon emissions.
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By end-use industry, the automotive segment dominated the market in 2021, contributing to more than one-fifths of the global methanol market. However, the appliances segment is projected to register the highest CAGR of 8.37% during the forecast period. This is because methanol is the building block for the manufacturing of various appliances that can be found in computers, cars, and others.
By region, the market across Asia-Pacific held the largest share in 2021, accounting for more than half of the global methanol market, due to substantial rise in government initiatives to boost the use of methanol for electric vehicles and fuel-cell vehicles. However, the market across LAMEA is anticipated to register the highest CAGR of 6.57% during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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