Methanol is a clear, colorless, volatile liquid with an alcohol-like aroma that is used extensively in the chemical industry. It is made from natural gas, coal, and biomass and is widely used in a variety of industries, including chemicals, construction, and energy. From 2021 to 2026, the global methanol market is predicted to rise at a CAGR of 3.4%, owing to rising demand for methanol in a variety of industrial applications such as fuel, solvents, and feedstock for other chemicals. Methanol is used to make acetic acid, formaldehyde, methyl tertiary-butyl ether (MTBE), and a variety of other chemicals. Furthermore, its application as a fuel in petrol blending is likely to boost market expansion in the future years. The growing awareness of environmental issues is projected to propel the methanol industry even more.
Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (ZPC) (Iran), Celanese Corporation (Texas), BASF SE (Germany), and PETRONAS (Malaysia), Mitsubishi Gas Chemical Company Inc. (Japan), Mitsui & Co., Ltd. (Japan),), LyondellBasell Industries B.V. (U.S), OCI N.V. (Netherlands), Metafrax Chemicals (Russia), SIPCHEM (Saudi Arabia) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
Methanex Corporation engages in the production and supply of methanol. The company has an extensive global supply chain and distribution network of terminals and storage facilities throughout Asia Pacific, North America, Europe, and South America. In July 2021, Methanex Corporation and Mitsui O.S.K. Lines announced that the parties have concluded key commercial terms for the purchase and sale of an equity position in, and the establishment of a strategic partnership involving Methanex’s Waterfront Shipping (WFS) subsidiary.
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