The sold production of methanol in Belgium shows a general upward trend over the past decade, rising from 687.81 thousand euros in 2013 to 1661.4 thousand euros in 2023. The market experienced fluctuations, notably a peak in 2021 with 1737 thousand euros, followed by a dip in 2022 at 1577.5 thousand euros. The latest data for 2023 indicates a 5.32% increase year-on-year, and the compound annual growth rate (CAGR) from the last five years stands at 4.21%.
Looking ahead, the forecast suggests continued growth in methanol production value, reaching 2068.3 thousand euros by 2028. This implies an average annual growth rate of 3.46% over the next five years, translating to an overall growth rate of 18.57% by 2028.
Future trends to watch for:
- Potential impacts of technological advancements and increased efficiency in methanol production.
- Shifts in global methanol demand and price volatility influenced by macroeconomic conditions.
- Impact of regulatory changes and environmental policies aimed at reducing carbon emissions.
