Albany, NY -- (ReleaseWire) -- 01/03/2014 -- Methanol is the liquefied form of methane, a gas which is usually produced as a result of the decomposition of organic matter. Methanol is one of the better alternatives available for contemporary gasoline products as it dispenses the same amount of energy. It also acts as an additive in petroleum products, boosting the performance of internal combustion engines. Methanol is also called methyl alcohol or wood alcohol and is naturally found in volcanic gases and wood.
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Some of the major factors driving the global methanol market include efficiency of plants in producing the gas, availability of the natural gas and the price factor. Methanol is available in abundance in nature since it is produced by the decomposition of organic matter. Due to these reasons methanol is expected to fuel market growth in the upcoming years from 2013. The high cost involved in converting methane into a liquid state is inhibiting the growth of the global methanol market. This fuel may be better than petroleum products; however, it is not enough to satisfy the demand for fuel due to rising fuel consumption. The EPA and other environment regulatory bodies have warned that excessive exposure to methanol leads to severe negative repercussions for the human body. This negative impact of methanol on the human body however, is still a matter of debate.
Some of the key players of this market include BASF SE, Eastman Chemical Company, Celanese Corporation (U.S.), Atlantic Methanol Production Company LLC, Methanex Chile Ltd., and JSC “METAFRAX.”
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