Asia Methanol Market: China expected to have significant growth in methanol production through 2020
The methanol is a very important product that has its application or usage in various industries. Methanol is used to make many consumer and industrial products and is also an alternative fuel source. The stable methanol prices and its applications for producing other chemicals are the driving force of the Asia Methanol Market during 2015-2020. Read more
Applications of the Asia Methanol Market:
In the Asia Methanol Market, the methanol is a feedstock product for the production of chemicals such as acetic acid and formaldehyde, which in turn are used in products like adhesives, foams, plywood subfloors, solvents and windshield washer fluids. It can be used for fuels in vehicles and it is ecofriendly fuel as well as combusts easily in upcoming years.
Approximately 40% of world’s Methanol is used in energy related applications. Other applications of Methanol are Transportation fuel, Wastewater Denitrification, Fuel cell hydrogen carrier, Biodiesel transesterification, electricity generation etc. there is huge demand for the methanol and its product in Asia due to rise of industrialization in the region suggests IndustryARC market study report on Asia Methanol Market.
China is expected to witness significant growth in the Asia Methanol Market during 2015-2020. India and China are two emerging economies with high demand for fuels and supplies for their industries. Methanol pricing in the region depends on the availability of methanol in methanol plant for supplying to other industries and it is expected to witness upsurge in demand and little growth in the methanol price during 2015-2020.
Segmentation and Key players of the Asia Methanol Market:
The Asia Methanol Market is segmented into various categories by application and by countries in the market analysis report by IndustryARC as follows:
By application: Formaldehyde, Acetic acid, Methanol-to-Olefins (MTO), Dimethyl Ether (DME), gasoline blending and combustion and others.
By country: China, Japan, South Korea, Taiwan, India, Malaysia and others
The key players in the Asia Methanol Market according to the IndustryARC marketing analysis study are as follows:
- Petroliam Nasional Berhad
- Methanex Corporation
- China National Offshore Oil Corporation
- Sinopec Group
The Asia Methanol Market is rapidly growing market owing to the various applications of methanol in chemical industries. The methanol acts as feedstock to many other chemicals of industry and it is very effective alternative fuel. This market is expected to witness high growth and demand in Asia during 2015-2020.
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