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Methanol Market Research Report -Forecast to 2030

Methanol Market Information: by Feedstock (Natural Gas, Oil, and Coal), Derivative (Formaldehyde, Acetic Acid, Dimethyl Ether and Others) End-Use Industry (Transportation, Building and Construction and Others) - Forecast till 2030

ID: MRFR/CnM/1232-HCR | December 2022 | Region: Global | 141 Pages         

Methanol Market

The Methanol Market is likely to attain a global CAGR of 5.5% and hence, reach a global market value worth USD 26.6 billion by the end of the period in 2030.

Segmentation

By Feedstock Natural Gas Oil Coal
By Derivative Formaldehyde Acetic Acid Dimethyl Ether Others
By End-User Industry Transportation Building and Construction Others

Key Players

  • Celanese Corporation (Texas)
  • SABIC (Saudi Arabia)
  • BASF SE (Germany)
  • PETRONAS (Malaysia)
  • Methanex Corporation (Canada)

Drivers

  • Improved engine performance and enhanced fuel efficiency
  • Increasing demand for lightweight vehicles to reduce carbon emissions
  • Increasing use in the water treatment plastics and healthcare industries.
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Methanol Market Overview


The methanol market analysis shows good growth for the market during 2022-2030. The market is likely to attain a global CAGR of 5.5% and hence, reach a global market value worth USD 26.6 billion by the end of the period in 2030.


COVID 19 Analysis


The methanol market trends have been one of the markets that have been affected that have been developing and arising since the pandemic made an unwanted entry in lives of people by late 2019 and 2020 and further, hampered the market growth and demand. The market players have been confronting different market issues as the worldwide governments are predicting in on carrying out estimates that will help and assume a positive part in checking the unpalatable spread of the novel coronavirus. The global market players and trends have witnessed a huge amount of losses since the pandemic has arrived. Likewise, the rising changes and inclinations of the worldwide interest group that is presented to the market activities are hampering the development and extension capacity of the market during the forecast period of 2022-2030.


Further, market ventures are functioning on a low attribute but are increasing their research and development activities that will help in competing for the rising failure to deliver and keep an appropriate capacity of the economies of scale.


Market Dynamics


Drivers


The growth driving prospects for the methanol market size will help the market reach an excellent market revenue by the end of the forecast period in 2030. Methanol, as a part ingredient is a clean-burning marine fuel that is known to be cost-effectively and helps to meet the shipping industry’s increasingly stringent emissions and regulations that are put forward during the forecast period that will be ending in 2030. Further, methanol is emerging as a cost-effective alternative in the form of a marine fuel when it comes to fuel storage followed by the bunkering infrastructure costs. As it is available in liquid form, only minor modifications are required to be employed in the current bunkering infrastructure for handling methanol. Similarly, the cost of converting the fuel vessels to function on methanol is relatively low as compared to the conversions and functioning of alternate fuels. Owing to this market fact, the use and demand of the methanol market share as a marine fuel are witnessing global growth. It has been used in many global projects and commercial activities that are propelling around the world.


Restraints


The market production of methanol is done using any carbon-based source is a capital-intensive process. The market players need to identify the need to secure raw materials for economical and uninterrupted supply for a good time. Once, there is a considerable availability of R&D and FEED of the project which is ensured, the required time frame followed by capital investments are calculated on a per-project basis. The construction plants also require a higher and huge investment degree. The post phases of the market, such as maintenance followed by the installation process es of technology, and others, also require the availability of a considerable amount of capital.


Technology Analysis


One of the major concerns that the methanol market share in the global market is functioning is the high cost and the players are helping to bring down the same. The automotive industry, as a part of the Methanol market analysis, accounts for a global share of 24.8% for the overall market. The main reason behind this is the increasing demand for mass vehicles development followed by the mounting demand for consumer goods. There has been a substantial increase in the preference for high-cost and high-performance methanol that is driven by the widened need to follow an improved quality of life, health, and prevailing environment, followed by the shift to clean, and rising requirement for alternative sources of manufacturing.


Study Objectives



  • To describe the basis of the global market segmentation and analyze the market growth over 5 major mushrooming geographical locations across the globe. To draw a competitive market degree to predict the highest-earning sector, segment, company, and region by the end of the global forecast year in 2028

  • To analyze the impact of the outbreak of the coronavirus pandemic on the market operations and the evolving key strategies and recent developments of the market players to cover the losses and grow as per the predicted market CAGR rate and reach the ideal market revenue.

  • To get detailed analysis and information about the market dynamics like drivers, opportunities, marketing and development strategies, restrictions, as well as, challenges


Segment Overview


The global methanol market is functional in the form of various market segments that help meet the rising needs of the audience. The market has been segmented based on the following:


Based on Feedstock


The feedstock segment of the market includes natural gas, coal, and others


Based on the Derivatives


The derivatives segment of the market includes gasoline, MTO/MTP, formaldehyde, Methyl, Tertiary Butyl Ether (MTBE), Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Biodiesel, and others


Based on the Sub-Derivatives


The sub-derivatives segment of the market includes Gasoline additives, Olefins, UF/PF resins, VAM, polyacetals, MDI, PTA, Acetate Esters, Acetic anhydride, Fuels, and others.


Based on the End-Use Industry


The end-use industry of the methanol market share is construction and Automotive, Electronics and appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), and others like solvents.


Regional Analysis


Based on the segmentation of the market in the global regions, the basis is the availability of labor, skilled professionals, resources, raw materials, and investment opportunities. Based on the geographical segmentation of the market, the methanol market trends are likely to be the maximum in 5 major regions across the globe. Out of those five regions, the Asia Pacific region is likely to hold the largest market share of the Methanol market revenue for the forecast period that will be ending in 2030. There has been a huge rise in the factors such as the rapid increase in the consumption of methanol that is available in a series of economic sectors like construction, automotive, and electronics industries. Also, the trends are at the highest range in countries such as the Democratic Republic of China, Japan, the Indian subcontinent, South Korea, and Australia amongst others.


Competitive Landscape


The prominent market players that have a recognized role in the expansion of the methanol market share and hence, give rise to the widening marketing opportunities during the forecast period of 2021-2028 are mentioned as follows:



  • Celanese Corporation (Texas)

  • SABIC (Saudi Arabia)

  • BASF SE (Germany)

  • PETRONAS (Malaysia)

  • Methanex Corporation (Canada)


Recent Developments


November 2021-Maritime Partners along with e1 Marine, ABB, and Elliott Bay Design Group has announced is planning to build the first-ever methanol-fueled towboat in the world, to be launched by 2023. Called Hydrogen One, this vessel would be IMO 2030-compliant, adhering to all the requirements of the Subchapter M regulations of the US Coast Guard’s. It has been designed by the Elliott Bay Design Group with the use of their cutting-edge technology. ABB will be supplying the electrical power distribution as well as automation to the methanol-to-hydrogen fuel cell battery.
Since methanol is one of the most common towboat cargoes and is found in 88 of the major ports around the world, the vessel can be refueled almost everywhere without any diversions. The M/V Hydrogen One using e1 Marine’s advanced reformer technology will help produce hydrogen with the use of methanol right on-demand, making it significantly safer than directly storing hydrogen, with the ship crew requiring minimal extra training for the technology.

November 2021-Maersk has entered an agreement with Robert a renowned naval architect firm, Allan Ltd to develop the first-ever fuel cell tug for applications in harbor operations that run on green methanol. This project aims to explore the benefits of combining methanol fuel cells, storage/handling systems, batteries, propulsion units, and electric drives as a carbon-neutral replacement for traditional fossil-fueled propulsion train.

In February 2019, a major acquisition took place that is showing signs of strengthening the capability of managing future productivity followed by substantial growth in the production of acetic acid on a worldwide scale. The 365-kt synthesis gas production unit was acquired from Linde AG, which has its location at Clear Lake, Texas facility.


In the same year of 2019, and the month of June, one of the prominent market players - BASF and Sichuan Lutianhua Co., Ltd. (Lutianhua) entered into a collaboration and signed an MoU for the co-development of a pilot production plant that will be functional in helping to reduce carbon emissions and further, increase the degree of energy efficiency in producing dimethyl ether (DME) during the forecast period that will be ending in 2028.


In the following year of June 2020, another prominent market player - Saudi Aramco took to the market and acquired 70% stakes of a global company named SABIC from the Public Investment Fund (PIF) The total amount of the purchase summed up to a global amount of USD 69.1 billion.


Report Overview


The methanol market report helps in having a qualitative market discussion and hence, covers the following marketing aspects:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Study Objectives

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


The global methanol market research report considers the understanding of the market functions and operations that are held by the industry leaders and experts. The market covers the impact of the pandemic and further, the report helps to provide in-depth market dynamics in terms of the growth opportunities and restraints available to the market. The report also covers the basics of the global market segmentation and the factors of rising competition in the global market are also discussed and mentioned. The market report also consists of the recent developments and the market’s way of dealing with the outbreak of the coronavirus pandemic.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   2022-2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Feedstock, Derivative, End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Celanese Corporation (US), BASF SE (Germany), Methanex Corporation (Canada), SABIC (Saudi Arabia), Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company Inc. (Japan), Valero Marketing and Supply Company (US), Mitsui & Co. Ltd (Japan), Zagros Petrochemical Company (Iran), Sipchem (Saudi Arabia), Simalin Chemical Industries Limited (India), and Solventis (UK)
  Key Market Opportunities

  • Rising residential and commercial construction activities coupled with improving standards of living
  • Rising per capita income
  •   Key Market Drivers

  • Improved engine performance and enhanced fuel efficiency
  • Increasing demand for lightweight vehicles to reduce carbon emissions
  • Increasing use in the water treatment, plastics, and healthcare industries


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    Frequently Asked Questions (FAQ) :

    The global report has been prepared to consider the market’s functioning for the forecast period of 2021-2030.

    The methanol market size is likely to grow at a global CAGR of 5.5% by the end of the global revenue period in 2030.

    The market is likely to witness the global challenge is that methanol is relatively more dangerous when it comes to handling than ethanol that might restrain the market from growing during the forecast period that will be ending in 2030.