Methanol, also known as wood alcohol, refers to a colorless, light, and volatile liquid alcohol with a distinctive odor. It contains a methyl group linked with a hydroxy group and is the simplest type of alcohol. Methanol is prepared by directly combining hydrogen and carbon monoxide gas in the presence of a catalyst. It has a low rate of evaporation, radiant heat energy and is miscible in different solvents, including water, ether, alcohol, ketones, etc.As a result, methanol is extensively utilized as a general solvent and to produce pharmaceuticals, resins, perfumes, etc.
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The expanding automotive industry represents one of the primary factors driving the methanol market. This chemical is used as an antifreeze agent for automobile radiators and as a transportation fuel. Additionally, methanol is also utilized in the manufacturing of Methyl tert-butyl ether (MTBE) and Dimethyl ether (DME), which are safer substitutes for traditional gasoline.
Furthermore, methanol finds various applications in the manufacturing of acetic acid, formaldehyde, and methyl acetate, which are then used to produce paints, solvents, plastics, adhesives, plywood, foams, explosives, etc. Besides this, the increasing applications of methanol in internal combustion engines and as an essential component of biodiesel are anticipated to further bolster the market for methanol in the coming years.
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