Propellants Market
Global Propellants market was valued at US$ 13,579.9 Million in 2023 and is projected to reach US$ 20,819.2 Million by 2030, at a CAGR of 5.84%
— 24ChemicalResearch
PUNE, MAHARASHTRA, INDIA, February 18, 2024 /EINPresswire.com/ — The global Propellants market was valued at US$ 13,579.9 Million in 2023 and is projected to reach US$ 20,819.2 Million by 2030, at a CAGR of 5.84% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The fuel segment emerges as the largest application segment, poised to dominate the green methanol market throughout the forecast period from 2024 to 2032. This dominance is particularly pronounced within the maritime industry, propelled by stringent regulations and an escalating emphasis on decarbonization efforts. The International Maritime Organization (IMO) has set ambitious targets for reducing carbon emissions in international shipping, aiming for a 40% reduction by 2030 and a 70% reduction by 2050, relative to 2008 levels.
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North America has been the largest regional market, growing at a CAGR of 4.89%…
