The global Methanol market worth $54,630.4 million by 2030, growing at a CAGR of 5%
Methanol is broadly used in industries nonstop or as a feedstock for the fabrication of liquid fuels, chemicals, and plastics. On a daily basis 200,000 tons of methanol is used in chemical feedstock or as transportation fuel (67 million gallons/254 million liters), this amounts to 7500 tanker trucks worldwide.
The methanol (Methyl Alcohol) market is growing owing to high use in the automotive industry. The methanol market is experiencing major growth in China and the United States, owing to developments in shale gas. Another growth factor is growing demand for petrochemicals, especially in the Asia Pacific region. Natural gas is the main feedstock used for methanol.
New regulations and policies implemented to control emission of harmful gases has caused the increased demand for biofuels. This is an additional cause towards the research of the ground-breaking approaches that are energy-efficient, low-cost and eco-friendly. Expertise to use methanol as a substitute for diesel is being commercialized in various countries. There is an increasing demand in markets for direct blending of methanol into gasoline.
The global methanol market has been segmented, by feedstock as, includes coal, natural gas, and few other feedstock. The methanol market is also broadly segmented, by derivatives, into formaldehyde, methanol-to-olefins (MTO)/methanol-to-propylene (MTP), methyl tert-butyl ether (MTBE gasoline), dimethyl terephthalate (DMT), acetic acid, methyl methacrylate (MMA), dimethyl ether (DME), methylamines, tertiary amyl methyl ether (TAME), and others derivatives.
The methanol market has a few global players competing significantly for the methanol market share, and are actively investing in various strategies such as expansions and joint ventures & agreements globally to increase their market.
Key company profile in the Global Methanol Market report are HELM Proman Methanol AG, SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (ZPC) (Iran), Celanese Corporation (Texas), BASF SE (Germany), and 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.
Application segment have been studied based on historic, present, and future trends. Segmentation on the basis of region are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The US Methanol market indicates that the initial growth has grown and moved towards an expensive curve. The demand has increased by 20% in the past years, due to restarting of Canada based Methanex. The buildout now leaves the US just one plant less from being a net exporter and no longer dependent on imports from Trinidad and Venezuela.
Key players contributing to the methanol market share profiled in the report include Methanex Corporation, Petroliam Nasional Berhad (PETRONAS), Reliance Industries Limited, AR-RAZI Saudi Methanol Company, RAMA Petrochemicals Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, and Others.
In the near future, long-term considerable cost reduction would be observed due to the use of cheaper biomass and constant technological advancements. Industry experts are predicting the production cost to go down by USD X-X/GJ range. Methanol derived from biomass and hydrogen are predicted to live up to the major methanol market share demand.
Methanol Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$54,630.4 million|
|Growth Rate||CAGR of 5% during 2022-2030|
|Segment Covered||Feedstock, Derivatives, Applications, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||HELM Proman Methanol AG, SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (ZPC) (Iran), Celanese Corporation (Texas), BASF SE (Germany), and 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.|
Key segments of the Methanol Market
Feedstock, 2022-2030 (USD Million)
• Natural Gas
Derivatives, 2022-2030 (USD Million)
• Methyl tert-butyl ether
• Dimethyl terephthalate
• Acetic acid
• Methyl methacrylate
• Dimethyl ether
• Tertiary amyl methyl ether
Applications, 2022-2030 (USD Million)
• Future trends
Region Overview, 2019-2029 (USD Million)
• North America
o United States of America
o the Netherlands
o The United Kingdom
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• South America
o Rest of South America