India Methanol Market | [2028] Exploring Growth, Potential and Future, Trends
India methanol market is anticipated to grow significantly rate in the projected period of 2028. The government's efforts to promote methanol as a transportation fuel include setting up methanol fuel stations and retrofitting existing vehicles to run on methanol. Additionally, research and development are underway to manufacture methanol-powered vehicles and engines specifically designed to optimize methanol combustion efficiency. Apart from transportation, methanol holds immense potential for industrial and power generation applications. It can be used as a feedstock to produce chemicals, plastics, and pharmaceuticals, thereby reducing reliance on imported raw materials. Methanol can also be employed in fuel cells to generate electricity, offering an alternative to traditional fossil fuel-based power generation. As per the NITI Aayog, the methanol economy will also create close to five million jobs through methanol production, application, and distribution services....