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"The global petrochemicals market size is projected to reach USD958.8 billion by 2025, expanding at a CAGR of 8.5% over the forecast period. Increasing demand for ethylene, propylene, methanol, and benzene in different end-use industries is anticipated to propel the global market demand. Government support and favorable policies in Asian countries, such as China and India, are expected to further accelerate market growth. The methanol product segment is anticipated to witness robust growth on account of its high demand in the production of formaldehyde gasoline, methanol olefins, and other chemicals. They have a high preference in various end-use industries, including plastic manufacturing, paints and adhesives, construction, automotive, and pharmaceuticals. It is extensively used in the production of biodegradable lubricants, which reduce air pollution and are considered safer than other fuels. The production of biodiesel is supported by regulatory bodies as a measure to reduce carbon footprint."

Methanol Market

Waterfront Shipping Company Ltd. (WFS), Mitsui O.S.K. Lines, Ltd. (MOL), Westfal-Larsen Management (WL), and Marinvest/Skagerack Invest (Marinvest) are proud to welcome innovative, clean-burning, fuel-efficient vessels to the sea. These seven 50,000 dead weight tonne vessels are built with the first-of-its kind MAN B&W ME-LGI 2-stroke dual fuel engines that can run on methanol, fuel oil, marine diesel oil, or gas oil.

According to the new market research report "Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region - Forecast to 2025", published by MarketsandMarkets™, the Hydrogen Generation Market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market.

According to the new market research report "Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region - Forecast to 2025" The hydrogen generation market size is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Increasing fuel cell power generation application is driving the growth of the market.

According to a research report "Hydrogen Market by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030″ published by MarketsandMarkets, the hydrogen market is projected to reach USD 410.6 billion by 2030 from an estimated USD 242.7 billion in 2023, at a CAGR of 7.8% during the forecast period.

The global hydrogen energy storage market is projected to reach USD 18.2 billion by 2024 from an estimated USD 13.8 billion in 2019, at a CAGR of 5.8% during the forecast period. The growth is attributed to the increase in use of stored hydrogen for stationary and backup power application. In addition to this, the demand for hydrogen is also generated from the chemical industry where hydrogen is used in the processes of producing ammonia and methanol.

The growth is attributed to the increase in use of stored hydrogen for stationary and backup power application. In addition to this, the demand for hydrogen is also generated from the chemical industry where hydrogen is used in the processes of producing ammonia and methanol.

The Global Hydrogen Generation Market 2028 Research Report Analysis and Outlook Insights | Latest Updated Report | is segmented into by Technology (SMR, ATR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation), Source (Blue, Green, Gray), Generation Mode Region. The report presents the research and analysis provided within the Hydrogen Generation Market Research is meant to benefit stakeholders, vendors, current trends, opportunities and other participants in the industry. It includes CAGR status of the market and provides important information on how the market has progressed over time. The Hydrogen Generation Market report is an invaluable tool for businesses as it provides a comprehensive overview of market dynamics, SWOT analysis, and future strategies that will help your business succeed in the future.

MarketsandMarkets Research titled, "Hydrogen Industry by Sector (Generation Type (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Refinery, Ammonia, Methanol)), Region - Global Forecast to 2030". The global hydrogen industry in terms of revenue was estimated to be worth $242.7 billion in 2023 and is poised to reach $410.6 billion by 2030, growing at a CAGR of 7.8% from 2023 to 2030