Methanol Market
Methanol Market Forecasts to 2030 - Global Analysis By Type (Natural Gas, Coal, Biomass and Other Types), Derivatives, Sub-Derivatives, End User and By Geography
According to Stratistics MRC, the Global Methanol Market is accounted for $32.8 billion in 2024 and is expected to reach $47.0 billion by 2030 growing at a CAGR of 6.2% during the forecast period. Methanol, also known as methyl alcohol or wood alcohol, is a colorless, volatile, and highly flammable liquid. It's the simplest form of alcohol and consists of one carbon atom, three hydrogen atoms, and one hydroxyl group (OH). Methanol is used in various industrial processes, as a fuel, solvent, antifreeze, and as a raw material in the production of chemicals like formaldehyde and acetic acid. However, it's also highly toxic when ingested, inhaled, or absorbed through the skin, making it important to handle with care and follow safety guidelines when working with methanol-containing substances.
According to China's National Bureau of Statistics, the country's real estate development increased by 38.3% between January and April 2021 and the corresponding months in 2020.
Market Dynamics:
Driver:
Growth in automotive and construction sectors
In automotive, methanol's role as a fuel additive and potential future alternative fuel source is fostering market expansion. Simultaneously, in construction, methanol is utilized in various applications such as manufacturing adhesives, paints, and plastics. This dual momentum is propelling the market forward, with expectations of sustained growth due to ongoing innovation and demand diversification.
Restraint:
Stringent environmental regulations
Compliance demands expensive upgrades to reduce emissions, impacting production costs. Additionally, these regulations limit expansion opportunities for methanol producers, constraining market growth. Furthermore, the need for sustainable practices pushes for research into cleaner production methods, adding complexity and cost to operations. Overall, navigating these stringent regulations requires significant investment and innovation within the methanol industry.
Opportunity:
Increasing demand for chemicals
The market is experiencing a surge in demand for chemicals due to several factors such as industrial growth, increasing use of methanol in manufacturing processes, and rising demand for derivatives like formaldehyde, acetic acid, and methyl methacrylate. This demand is being driven by various industries including automotive, construction, and electronics, leading to a significant increase in the consumption of methanol-based chemicals worldwide.
Threat:
Fluctuations in raw material costs
Factors such as changes in energy prices, supply chain disruptions, geopolitical tensions, and environmental regulations contribute to this volatility. These variations have an impact on pricing tactics, production planning, and overall market dynamics, necessitating the adoption of flexible methods and risk management measures in order to efficiently traverse the uncertain landscape. Thus, the market has been witnessing significant fluctuations in raw material costs, creating challenges for manufacturers and consumers alike.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the methanol market, leading to disruptions in supply chains and reduced demand. Lockdowns and restrictions on travel and industrial activities caused a decrease in methanol consumption across various sectors such as automotive, construction, and energy. However, the market has shown signs of recovery as economic activities gradually resumed post-pandemic, driving demand back up.
The biomass segment is expected to be the largest during the forecast period
The biomass segment is expected to be the largest during the forecast period driven by increasing environmental concerns and the shift towards renewable energy sources. Biomass-derived methanol offers a sustainable alternative to traditional fossil fuels, reducing carbon emissions and promoting a greener energy ecosystem. Key players are investing in research and development to enhance production efficiency and meet the rising demand for bio-based methanol.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period driven by the compound's versatile applications. Methanol's role as a solvent and reagent in pharmaceutical manufacturing processes, coupled with its cost-effectiveness and environmental advantages, has spurred its demand. Moreover, methanol's use in the synthesis of various active pharmaceutical ingredients (APIs) and its potential as a renewable resource align with sustainability goals, further boosting its adoption in the pharmaceutical industry.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. There have been investments in expanding methanol production capacity in the region, driven by increasing demand and opportunities in cleaner energy solutions. The market is expected to continue growing, driven by demand from the chemicals industry, adoption of methanol as a fuel source, and ongoing technological advancements in production and usage.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period driven by several factors. Increasing demand from industries such as automotive, construction, and electronics, coupled with the rise in renewable energy projects, is boosting market expansion. The countries not only consume methanol domestically but also export it to other regions, especially as demand grows globally. Additionally, government initiatives promoting cleaner fuels and sustainable manufacturing practices are further fueling market growth.
Key players in the market
Some of the key players in Methanol market include Celanese Corporation, Methanex Corporation, BASF SE, Petroliam Nasional Berhad (PETRONAS), Zagros Petrochemical Company (ZPC), Valero Energy Corporation, SABIC, Mitsui & Co., Ltd., Mitsubishi Gas Chemical Company, Inc., Zagros Petrochemical Co., Methanol Holdings (Trinidad) Limited, Helm AG, Topsoe, Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Reliance Industries Limited and BP Global.
Key Developments:
In April 2023, Methanex Corporation signed an agreement with Suez Methanol Derivatives (SMD) for a new methanol pipeline construction. With this agreement, Methanex Corporation will supply methanol from its Egypt plant to a nearby SMD company’s project in Damietta.
In March 2023, Zagros Petrochemical Company (ZPC) and Dalian Petrochemical Company signed an agreement to construct a methanol-to-synthetic ethanol conversion plant.
Types Covered:
• Natural Gas
• Coal
• Biomass
• Other Types
Derivatives Covered:
• Gasoline
• Biodiesel
• Formaldehyde
• Acetic Acid
• Dimethyl Ether (DME)
• Methyl Tertiary Butyl Ether (MTBE)
• Others Derivatives
Sub-Derivatives Covered:
• Polyacetals
• Olefins
• Acetate Esters
• Acetic Anydride
• Fuels
• Other Sub-Derivatives
End Users Covered:
• Paints & Coatings
• Insulation
• Pharmaceuticals
• Construction
• Automotive
• Electronics
• Packaging
• Solvents
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Methanol Market, By Type
5.1 Introduction
5.2 Natural Gas
5.3 Coal
5.4 Biomass
5.5 Other Types
6 Global Methanol Market, By Derivatives
6.1 Introduction
6.2 Gasoline
6.3 Biodiesel
6.4 Formaldehyde
6.5 Acetic Acid
6.6 Dimethyl Ether (DME)
6.7 Methyl Tertiary Butyl Ether (MTBE)
6.8 Others Derivatives
7 Global Methanol Market, By Sub-Derivatives
7.1 Introduction
7.2 Polyacetals
7.3 Olefins
7.4 Acetate Esters
7.5 Acetic Anydride
7.6 Fuels
7.7 Other Sub-Derivatives
8 Global Methanol Market, By End User
8.1 Introduction
8.2 Paints & Coatings
8.3 Insulation
8.4 Pharmaceuticals
8.5 Construction
8.6 Automotive
8.7 Electronics
8.8 Packaging
8.9 Solvents
8.10 Other End Users
9 Global Methanol Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Celanese Corporation
11.2 Methanex Corporation
11.3 BASF SE
11.4 Petroliam Nasional Berhad (PETRONAS)
11.5 Zagros Petrochemical Company (ZPC)
11.6 Valero Energy Corporation
11.7 SABIC
11.8 Mitsui & Co., Ltd.
11.9 Mitsubishi Gas Chemical Company, Inc.
11.10 Zagros Petrochemical Co.
11.11 Methanol Holdings (Trinidad) Limited
11.12 Helm AG
11.13 Topsoe
11.14 Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC)
11.15 Reliance Industries Limited
11.16 BP Global
List of Tables
1 Global Methanol Market Outlook, By Region (2022-2030) ($MN)
2 Global Methanol Market Outlook, By Type (2022-2030) ($MN)
3 Global Methanol Market Outlook, By Natural Gas (2022-2030) ($MN)
4 Global Methanol Market Outlook, By Coal (2022-2030) ($MN)
5 Global Methanol Market Outlook, By Biomass (2022-2030) ($MN)
6 Global Methanol Market Outlook, By Other Types (2022-2030) ($MN)
7 Global Methanol Market Outlook, By Derivatives (2022-2030) ($MN)
8 Global Methanol Market Outlook, By Gasoline (2022-2030) ($MN)
9 Global Methanol Market Outlook, By Biodiesel (2022-2030) ($MN)
10 Global Methanol Market Outlook, By Formaldehyde (2022-2030) ($MN)
11 Global Methanol Market Outlook, By Acetic Acid (2022-2030) ($MN)
12 Global Methanol Market Outlook, By Dimethyl Ether (DME) (2022-2030) ($MN)
13 Global Methanol Market Outlook, By Methyl Tertiary Butyl Ether (MTBE) (2022-2030) ($MN)
14 Global Methanol Market Outlook, By Others Derivatives (2022-2030) ($MN)
15 Global Methanol Market Outlook, By Sub-Derivatives (2022-2030) ($MN)
16 Global Methanol Market Outlook, By Polyacetals (2022-2030) ($MN)
17 Global Methanol Market Outlook, By Olefins (2022-2030) ($MN)
18 Global Methanol Market Outlook, By Acetate Esters (2022-2030) ($MN)
19 Global Methanol Market Outlook, By Acetic Anydride (2022-2030) ($MN)
20 Global Methanol Market Outlook, By Fuels (2022-2030) ($MN)
21 Global Methanol Market Outlook, By Other Sub-Derivatives (2022-2030) ($MN)
22 Global Methanol Market Outlook, By End User (2022-2030) ($MN)
23 Global Methanol Market Outlook, By Paints & Coatings (2022-2030) ($MN)
24 Global Methanol Market Outlook, By Insulation (2022-2030) ($MN)
25 Global Methanol Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
26 Global Methanol Market Outlook, By Construction (2022-2030) ($MN)
27 Global Methanol Market Outlook, By Automotive (2022-2030) ($MN)
28 Global Methanol Market Outlook, By Electronics (2022-2030) ($MN)
29 Global Methanol Market Outlook, By Packaging (2022-2030) ($MN)
30 Global Methanol Market Outlook, By Solvents (2022-2030) ($MN)
31 Global Methanol Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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