The Benzene toluene xylene market has witnessed steady growth over the years, driven by factors such as increasing demand for plastics, polymers, and synthetic fibers in various industries, including automotive, packaging, and textiles. Additionally, the rising focus on the development of eco-friendly and sustainable products has spurred innovations in the BTX market, further fueling its growth.

Due to having lower production costs and lower risk of flammability as compared to gasoline-based fuels, methanol is becoming the popular and on-demand alternative to conventional transportation fuels. In addition, due to lower greenhouse gas (GHG) emissions, the global methanol market will see vertical growth in the near future. The market is anticipated to grow at a CAGR of 6.4%, by garnering a revenue of $39,283.4 million by 2028. However, due to the outbreak of novel coronavirus pandemic, the methanol market has been hampered due to the shutdown of production units and economic slowdowns.

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