Methanol Market Size, Share, Industry, Forecast and outlook (2023-2030)

Methanol Market is segmented by Derivatives (Formaldehyde, Acetic Acid, Gasoline, DME, MTBE and TAME, and Others), by End User (Automotive, Construction, Paints and coatings, Electronics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030 

Methanol Market Report Overview

The methanol market report analyses the size, shares, recent trends, competitive intelligence, and future market outlook. Methanol Usage in organic synthesis is on the rise. Demand for packaging and textile in the Asia Pacific is booming. The competitive rivalry intensifies with Mitsubishi Gas Chemical Company, Inc., Celanese, and others active in the market.

Methanol is a liquid chemical with the formula CH3OH (often abbreviated MeOH). It is colorless, volatile, flammable, and poisonous. Methanol is made from the destructive distillation of wood and is chiefly synthesized from carbon monoxide and hydrogen. Its principal uses are in organic synthesis, as a fuel, solvent, and antifreeze.

Methanol Market Scope

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Methanol Market Dynamics and Trends

• The rising demand for petrochemical products from several industries such as packaging, textile, plastics, construction, healthcare, and transportation is one of the primary reasons for the growth of the petrochemical industry globally.

• The demand for petrochemical products such as ethylene, vinyl, styrene, propylene, benzene, xylene, butadiene, toluene, and methanol is rising.

• The demand for methanol is expected to increase at a rapid pace in the upcoming years owing to its end-user applications.

• Further, methanol is being successfully used as a transportation fuel in China. Owing to the increasing methanol use in filling stations and flexible fuel vehicles, various combinations of methanol ranging from M3 to M85 are being used nowadays.

• However, the concept has not gained much popularity in the US as it was introduced during a period of hastily dropping petroleum prices.

• However, the methanol market is hugely competitive, and methanol-related products’ prices are affected by the demand and supply fundamentals.

• In 2015, a steep decline in crude oil and related product prices reduced the affordability of various energy-related applications for methanol. This factor ultimately lowered methanol prices by the end of 2015.

Methanol Market Segmentation Analysis

• Based on the end-user, the global methanol market is segmented into automotive, construction, electronics, paints and coatings, and others. Of these, the automotive sector was the largest end-use industry in the global market in 2017.

• The increasing usage of methanol in the automotive industry, primarily owing to its use in internal combustion engines (with similar efficiency as diesel engines in aircraft and vehicles), has been fueling the market growth.

• Presently, methanol finds use as a fuel for transportation systems globally. Owing to its efficient combustion properties and low cost compared to other fuels, its demand is expected to increase during the forecast period.

• Further, the demand for methanol in the construction industry is expected to increase during the forecast period primarily driven by the formaldehyde derivative segment.

• Formaldehyde is commonly used in the production of adhesives, which are needed for manufacturing construction board products such as plywood.

Global Methanol Market Geographical Share

• Geographically, the global methanol market is segmented into North America, South America, Europe, Asia Pacific, and RoW. Of these, Asia Pacific dominated the global methanol market in 2017 and is anticipated to continue its growth trajectory during the forecast period as well.

• China is one of the critical leading countries in the Asia Pacific region, and the demand for methanol and its derivatives primarily stems from the country’s energy and petrochemicals sectors. China registers high demand for methanol-gasoline blends, which are used as transportation fuels.

• Presently, the country is expanding its capacity to meet the increasing methanol consumption rates. For instance, in September 2018, Clariant announced the start-up of its MegaMax 800 methanol synthesis catalyst at China National Offshore Oil Corp.’s (CNOOC) China BlueChemical methanol plant in Hainan province, China.

• Further, Europe is growing at a moderate rate owing to factors such as high prices of natural gas, which make methanol noncompetitive. Germany is the largest producer of methanol in Europe.

Methanol Market Companies

Major companies have adopted agreements, product launches, expansion, and mergers to sustain the intense competition in this market. The key players profiled in the report include Mitsubishi Gas Chemical Company, Inc., Celanese, NAUTICAL, BASF SE, Methanex Corporation, Clariant, Enerkem, OCI NV, Oberon Fuels., and solvates Deutschland gmbh.