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Methanol Market

Methanol Market

Methanol Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

142

Base Year:

2021

Date

Sep - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1842

Segments Covered
  • By Feedstock Coal, Natural Gas, Other Feedstocks
  • By Derivatives Gasoline, MTO/ MTP, Formaldehyde, Methyl Tertiary Butyl Ether (MTBE), Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Biodiesel, Other Derivatives
  • By Sub-Derivatives Gasoline Additives, Olefins, UF/ PF Resins, VAM, Polyacetals, MDI, PTA, Acetate Esters, Acetic Anhydride, Fuels, Other Sub-Derivatives
  • By End User Industry Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), Solvents, Other End User Industries
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 29.4 Billion
Revenue 2028Revenue 2028: USD 37.8 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.3%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Methanol Market Share

Market Synopsis:

The Global Methanol Market was valued at USD 29.4 Billion in 2021 and is projected to reach a value of USD 37.8 Billion by 2028. Over the forecast period, the Global Market is anticipated to grow to exhibit a CAGR (Compound Annual Growth Rate) of 4.3%.

Methanol is a colorless, flammable, light chemical with a distinct alcoholic odor. It is also known as methyl hydrate or methyl alcohol. The packaging, pharmaceutical, paints and coatings, automotive, electronics, and insulation industries use Methanol extensively. Additionally, it is employed in producing pharmaceutical medications, hooded caps, aprons, masks, medical gowns, gloves, and other medical equipment. Methanol is also utilized to disinfect wastewater treatment facilities' water. Denitrification is when extra nitrate from sewage is transformed into nitrogen gas and discharged into the atmosphere. The growth prospects for the Methanol Market size will assist the market in achieving exceptional market revenue by the end of the forecast time. Methanol, as a component, is a clean-burning marine fuel recognized as cost-effective and aids in meeting the shipping industry's more rigorous criteria & emissions norms that will be implemented throughout the projection period.

Methanol Market Size, 2021 To 2028 (USD Billion)

Furthermore, regarding fuel storage and bunkering infrastructure expenditures, Methanol is emerging as a cost-effective option in the form of maritime fuel. Because it is available in liquid form, minor adjustments to the existing bunkering infrastructure are required to handle Methanol. The cost of adapting fuel vessels to run on Methanol is relatively low compared to the cost of converting and running alternate fuels. As a result of this market fact, the use and demand for Methanol as a marine fuel are increasing globally. It has been used in numerous global undertakings and commercial activities sweeping the globe.

Market Segmentation:

The Methanol Market is segmented into Feedstock, Derivatives, Sub-Derivatives, End User Industry and Region. Based on the Feedstock, the market is further segmented into Coal, Natural Gas, and Other Feedstocks. Furthermore, based on the Derivatives, the market is further bifurcated into Gasoline, MTO/ MTP, Formaldehyde, Methyl Tertiary Butyl Ether (MTBE), Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Biodiesel and Other Derivatives. In addition, based on the Sub-Derivatives, the market is further bifurcated into Gasoline Additives, Olefins, UF/ PF Resins, VAM, Polyacetals, MDI, PTA, Acetate Esters, Acetic Anhydride, Fuels, and Other Sub-Derivatives. Likewise, based on the End User Industry, the market is further segmented into Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), Solvents, and Other End User Industries.

Below tree is interactive. You can click the nodes to get more information.

Based on Feedstock:

Natural Gas category dominated the market in 2021

The Natural Gas category dominated the market. This dominance is because producing Methanol from natural gas as a Feedstock is a straightforward process that can reach the requisite purity of Methanol. Furthermore, using Natural Gas as a Feedstock is safer than using flammable gasoline fuels. Natural Gas produced Methanol has an efficiency of roughly 50-60%, which is expected to raise the Methanol Market size throughout the projection period.

Based on End User Industry:

Automotive category dominated the market in 2021

The Automotive segment dominated the market. This expansion is primarily due to using Methanol in producing automobile components. Methanol, for example, is widely utilized in making automotive body panels, automotive paints, thermoset bumper & energy absorbers, safety glass laminate, tire core adhesives, light lens, acetyl thermoplastics, polyurethane dashboard foam, and other products.

Based on Regional Analysis:

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is accounted to grow at the highest CAGR (Compound Annual Growth Rate) during the forecast period. In addition, Methanol demand is increasing quickly in China and India since it is a clean fuel and an alternative to gasoline-based fuels. For instance, India will open its first pilot plant in Hyderabad in September 2021 to accelerate the shift to clean technologies to convert high ash coal to Methanol. This plant will also lower India's crude oil imports and use Methanol as a transportation fuel. These factors are expected to raise the Asia-Pacific Methanol Market share throughout the forecast period.

Recent Developments:

  • In March 2022, Proman, a prominent petrochemicals business, engaged in a collaboration agreement with Maersk, a Danish shipping company, to create green Methanol supply solutions for producing Methanol-fueled container boats.
  • In November 2021, Maersk arranged with Robert Allan Ltd, a renowned naval design firm, to develop the first-ever fuel cell tug for harbor operations that run on green Methanol. This research investigates the advantages of merging Methanol fuel cells, storage/handling systems, batteries, propulsion units, and electric drives as carbon-neutral replacements for standard fossil-fueled propulsion trains.

Competitive Landscape:

The key players in the Global Methanol Market include- Methanex Corporation (Canada), HELM Proman Methanol AG (Switzerland), SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (Iran), Celanese Corporation (Texas), BASF SE (Germany), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company Inc. (Japan), Mitsui & Co. Ltd. (Japan), LyondellBasell Industries B.V. (U.S), OCI N.V. (Netherlands), Metafrax Chemicals (Russia), SIPCHEM (Saudi Arabia) and others.

Segmentation of the Global Methanol Market:

Parameter Details
Segments Covered
  • Feedstock (Coal, Natural Gas, Other Feedstocks)
  • Derivatives (Gasoline, MTO/ MTP, Formaldehyde, Methyl Tertiary Butyl Ether (MTBE), Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Biodiesel, Other Derivatives)
  • Sub-Derivatives (Gasoline Additives, Olefins, UF/ PF Resins, VAM, Polyacetals, MDI, PTA, Acetate Esters, Acetic Anhydride, Fuels, Other Sub-Derivatives)
  • End User Industry (Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), Solvents, Other End User Industries)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Methanex Corporation (Canada)
  • HELM Proman Methanol AG (Switzerland)
  • SABIC (Saudi Arabia)
  • Yanzhou Coal Mining Co. (China)
  • Zagros Petrochemical Company (Iran)
  • Celanese Corporation (Texas)
  • BASF SE (Germany)
  • PETRONAS (Malaysia)
  • Mitsubishi Gas Chemical Company Inc. (Japan)
  • Mitsui & Co. Ltd. (Japan)
  • LyondellBasell Industries B.V. (U.S)
  • OCI N.V. (Netherlands)
  • Metafrax Chemicals (Russia)
  • SIPCHEM (Saudi Arabia)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Methanol Market to Reach Valuation of USD 37.8 Billion By 2028 – Increasing consumption of Methanol in fuel blending applications Drives the Market
In terms of revenue, the Global Methanol Market is expected to reach USD 37.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.3% from 2022 to 2028. Methanol Market is a colorless, flammable, light chemical with a pronounced alcoholic door. It is also known as methyl hydrate o...
FAQ
Frequently Asked Question
  • The global Methanol valued at USD 29.4 Billion in 2020 and is expected to reach USD 37.8 Billion in 2028 growing at a CAGR of 4.3%.

  • The prominent players in the market are Methanex Corporation (Canada), HELM Proman Methanol AG (Switzerland), SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (Iran), Celanese Corporation (Texas), BASF SE (Germany), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company Inc. (Japan), Mitsui & Co. Ltd. (Japan), LyondellBasell Industries B.V. (U.S), OCI N.V. (Netherlands), Metafrax Chemicals (Russia), SIPCHEM (Saudi Arabia).

  • The market is project to grow at a CAGR of 4.3% between 2021 and 2028.

  • The driving factors of the Methanol include

    • Increasing demand for chemicals in Asia Pacific

  • Asia Pacific was the leading regional segment of the Methanol in 2020.