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Description Methanol, also known as methyl alcohol amongst other names, is a chemical with the formula CH3OH. Methanol acquired the name wood alcohol because it was once produced chiefly by the destructive distillation of wood. It is a light, volatile, colorless, flammable liquid with a distinctive odor similar to that of ethanol (drinking alcohol). Methanol is however far more toxic than ethanol. At room temperature, it is a polar liquid.