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marketdigits
Sep 18, 2023 02:54 PM

The methanol market is expected to increase from USD 30.9 billion in 2023 to USD 38.0 billion by 2030, at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. The rising demand for methanol in the automotive sector from various countries has been a driving force in the methanol market’s expansion. Government rules on fuel quality and emissions, as well as the availability of methanol refuelling infrastructure, all have an impact on methanol consumption in automotive applications.

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Methanol is increasingly in demand from the construction and automobile industries. When compared to other fuels, methanol exhibits comparable efficiency when used as a fuel in cars and aeroplanes. Methanol and methanol blends were originally used in the car sector in China. Both biodiesel and MTBE, a petrol derivative, are made with methanol. Numerous building materials are produced using formaldehyde, which is produced from methanol.

Key Drivers in Methanol Market
 

• Alternative Fuel Source: Methanol is gaining prominence as a cleaner and more sustainable alternative fuel for transportation, which is a significant driver for its market growth.
• Chemical Manufacturing: The chemical industry relies heavily on methanol as a versatile feedstock for the production of various chemicals, including formaldehyde, acetic acid, and olefins, driving its demand.
• Energy Sector: Methanol is used as a fuel in power generation and as a fuel additive, especially in emerging markets, contributing to its growth in the energy sector.
• Expanding Petrochemical Industry: The growth of the petrochemical industry, where methanol is used as a feedstock, is a key driver for the methanol market, as it finds application in the production of plastics and synthetic fibers.
• Renewable Methanol: Increasing interest in renewable methanol, produced from sustainable feedstocks, is driving the market, as it aligns with sustainability goals and reduces carbon emissions.

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Major Classifications are as follows:

Based on derivative, the methanol market has been segmented as follows:

• Coal
• Natural Gas
• Others

Based on Derivatives, the methanol market has been segmented into:

• Gasoline
• MTO/MTP
• Formaldehyde
• Methyl Tertiary Butyl Ether (MTBE)
• Acetic Acid
• Dimethyl Ether (DME)
• Methyl Methacrylate (MMA)
• Biodiesel
• Others

Based on Sub-derivatives, the methanol market has been segmented into:

• Gasoline additives
• Olefins
• UF/PF resins
• VAM
• Polyacetals
• MDI
• PTA
• Acetate Esters
• Acetic anhydride
• Fuels
• Others

Based on End-use Industry, the methanol market has been segmented into:

• Construction
• Automotive
• Electronics
• Appliances
• Paints & Coatings
• Insulation
• Pharmaceuticals
• Packaging (PET bottles)
• Solvents
• Others

Based on Region, the methanol market has been segmented into:

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Rest of Asia Pacific (Australia, Malaysia, Taiwan, Vietnam, and Singapore)
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Turkey
  • Rest of Europe (Ukraine, Romania, and Poland)
• North America
  • US
  • Canada
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA (Iran, Qatar, Oman, and Bahrain)
• South America
  • Brazil
  • Argentina
  • Rest of South America (Chile, Trinidad, Tobago)

Key Players

Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia), Yankuang Energy Group Company Limited (China), Zagros Petrochemical Company (ZPC) (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), and SIPCHEM (Saudi Arabia).

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Key Questions Addressed by the Report

• What are the growth opportunities in the Methanol Market?
• What are the major raw materials used for manufacturing Methanol Market?
• What are the key factors affecting market dynamics?
• What are some of the significant challenges and restraints that the industry faces?
• Which are the key players operating in the market, and what initiatives have they undertaken over the past few years

Methanol Market Frequently Asked Questions (FAQs):
 

• What is the market trend for methanol?
• What is the future demand for methanol?
• Who is the largest consumer of methanol in the world?
• What affects methanol prices?

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