Growing escalation for petrochemicals toward the automotive and building & by construction industries is driving the demand for methanol.
The market size for methanol is expected to attain USD 54.16 billion by 2021. With the increasing usage of methanol in the production of olefins in some major economies, such as India, China, and Japan, the market is expected to grow further. Hence, the use of methanol is increasing in various end-use industries, and is expected to grow rapidly in the near future.
Increasing demand of methanol from the end-use industries, such as automotive and construction is the major driver for methanol market. The automotive and construction industries is growing in the emerging markets of Asia-Pacific such as, China, India, and the other Southeast Asian countries.
