Global methanol market to reach value of $54.6 billion by 2030

Allied Market Research reported that the global methanol market is anticipated to generate $54.6 billion by 2030.

The report stated that the industry was valued at $35.3 billion in 2021 and is expected to expand at a CAGR of 5.06% during the forecast period of 2022 to 2030.

The report states that the Asia-Pacific region dominated the market in 2021, contributing to more than half of the global methanol market, owing to significant growth in government initiatives to promote the use of methanol for EVs and fuel-cell vehicles.