After suffering from depressed markets, methanol is set for a resurgence over the next four years.
A report from Global Industry Analysts, entitled "Methanol: A global Strategic Business Report" claims that alternative fuels represent the fasted growing methanol end-use segments and that methanol-based fuel cells is set to become one of the most promising sectors for the market.
Despite a decline in sales as the automotive, construction and furniture sectors - all major users of formaldehyde - were hit by the global recession, the report predicts a bouyant future for methanol producers.
With methanol derivatives emerging as major factors in the production of biofuels and diesel substitutes the future is positive. Perhaps unsurprisingly, the Asia-Pacific region is seen as the strongest area for growth over the next few years, according to the report, with Europe close behind.