The Asia methanol market was estimated at USD 22,255.9 million in 2017 and is expected to witness significant growth during the forecast period 2018-23.China was the major country in the consumption of methanol in 2014 and is estimated to be the major country for the same during the forecast period 2018-23. The rise in demand for petrochemicals and the advancement of new industrial segments are projected to offer new opportunities for the methanol market during the forecast period. Methanol, as a basic chemical has many applications in traditional chemical derivatives and energy related applications such as formaldehyde, acetic acid, MTBE, DME, MTO etc. Among these, formaldehyde and acetic acid applications are growing at a strong pace during the forecast period 2018-23. The Formaldehyde application in Asia generated over $4,086.4 million in 2017 and is further forecast to grow at a CAGR of 8.4% during 2018-23. What is Methanol? Methanol is also known as wood alcoho...