The North America methanol market size reached 9.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 14.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Methanol, also known as wood alcohol, is a colorless, water-soluble liquid with a mild alcoholic odor. It presents an excellent way to store and transport energy conveniently and safely. Methanol is used in fuel cells as a direct reagent or indirectly as a source of hydrogen. In the chemical industry, methanol is used mainly for manufacturing formaldehyde, acetic acid, dimethyl terephthalate (DMT) and other solvents. Similarly, in the energy industry, it is employed in the manufacturing of methyl tertiary butyl ether (MTBE), tertiary amyl methyl ether (TAME), dimethyl ether (DME) and biodiesel.
The North America methanol market is currently being driven by various factors. Methanol offers long term possibilities for reducing greenhouse gas emissions. Therefore, the rising environmental concerns among the consumers have stimulated the usage of methanol as a safer fuel owing to its low rate of evaporation and low radiant heat energy. In addition to this, it biodegrades easily and can be a safer replacement of products such as crude oil, gasoline and diesel fuel. Apart from this, methanol can be manufactured from a variety of carbon-based feedstock such as natural gas, coal and biomass. These raw materials are readily available in the market and thus driving the production of methanol in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America methanol market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on application.
- Key Regions Analysed
- Analysis for Each Country
- Market by Application
- Dimethyl Ether
- Acetic Acid
- Market by Imports and Exports
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
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Key Questions Answered in This Report:
- How has the North America methanol market performed so far and how will it perform in the coming years?
- What are the key regions in the North America methanol market?
- What has been the impact of COVID-19 on the North America methanol market?
- What is the breakup of the North America methanol market on the basis of application?
- What are the various stages in the value chain of the North America methanol industry?
- What are the key driving factors and challenges in the North America methanol industry?
- What is the structure of the North America methanol industry and who are the key players?
- What is the degree of competition in the North America methanol industry?
- What are the profit margins in the North America methanol industry?