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 4.5% from 2022 to 2028.
Methanol is a colorless, flammable, light chemical with a pronounced alcoholic door. It is also known as methyl hydrate or methyl alcohol. Methanol finds extensive use in the packaging, pharmaceutical, paints and coatings, automotive, electronics, and insulation industries. As a result of the market's promising growth prospects, Methanol sales will have reached amazing levels. Methanol, one of the components, is a low-cost, clean-burning marine fuel that helps comply with the shipping industry's ever-stricter emissions and regulations issued over the forecast period. The current bunkering infrastructure can accept Methanol with relatively minor alterations because it is readily available in liquid form.
Key Highlights from Report:
- The Natural Gas segment dominated the Global Methanol Market in 2021. This is because Methanol can be produced with the appropriate purity using Natural Gas as a feedstock and is a straightforward process. Natural Gas is also safer to employ as a feedstock than gasoline fuels, which have a higher risk of ignitability.
- In 2021, the Formaldehyde, of the Derivatives segment, held the largest market share for Methanol. The Formaldehydeproduced resins are mostly utilized to create glues for plywood, chipboard/particle board, furniture manufacturing, and the building industry. The demand for Formaldehyde from Methanol will rise as the construction industry expands in developing nations in the Asia-Pacific, South America, Africa, and some regions of Europe.
- In 2021, the Asia Pacific held the greatest market share for Methanol. The demand for Methanol in the Asia Pacific region has increased due to factors such as the fast-rising consumption of Methanol in the automotive, electronics, and construction industries in nations like China, Japan, India, South Korea, and Australia. The usage of Methanol as a low emission alternative fuel that promotes low carbon mobility fuels the demand for the substance in the Asia-Pacific area.
Methanol is a key ingredient in the process known as "Methanol-to-Olefins," which produces olefins like ethylene and propylene. The growth is anticipated to be fuelled by rising Methanol usage for creating dimethyl ether and methyl tert-butyl ether (MTBE), used as gasoline substitutes. Dimethyl Ether (DME) is combined with liquefied Natural Gas and used as a propellant in aerosols and a fuel (diesel) in passenger vehicles (LNG). Methanol is a common ingredient in the production of biodiesel, which is safe, biodegradable, and emits fewer air pollutants than other fuels. Future market growth is predicted to be boosted by government attempts to minimize the world's carbon impact.
The Asia-Pacific region held the greatest share of the worldwide Methanol Market in 2021, accounting for more than half of it. Due to a significant increase in government programs to promote the use of Methanol for electric and fuel-cell vehicles, The expansion of the petrochemical sector also helps the market. A rising consumer desire for eco-friendly goods and rising demand for automobiles.
The Global Methanol Market is Segmented as follows:
- Natural Gas
- Municipal Waste
- Other Feedstocks
- Methyl Tertiary Butyl Ether (MTBE)
- Acetic Acid
- Dimethyl Ether (DME)
- Methyl Methacrylate (MMA)
- Acetic Acid
- Other Derivatives
- Polyethylene Terephthalate (PET)
- Acetic Anhydride
- Dimethyl Terephthalate (DMT)
- Methyl Methacrylate (MMA)
- Methyl Amines
- Methyl Chloride
- Other Sub-Derivatives
- End User
- Paints & Coatings
- Other End Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Methanol Market is:
Methanex Corporation (Canada), BASF SE (Germany), Celanese Corporation (U.S.), Gujarat State Fertilizers & Chemicals Ltd. (India), HELM Proman Methanol AG (Switzerland), SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (Iran), 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), SABIC (Saudi Arabia), Ningxia Baofeng Energy Group Co. Ltd. (China), Lyondellbasell Industries Holdings BV (U.S.)
The Global Methanol Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|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|