It is noted that the methanol market was valued at USD 28.5 billion in 2019 and is expected to project at a CAGR of 4.6% by 2027. The lightweight and flammable liquid, methanol is produced from natural gas, coal, or from some other renewable sources like biomass and livestock. This liquid is widely used as fuel in the transportation industry. This is because it has good binding properties and has a high octane rate. The automotive segment is expected to show high growth but by the end of the forecast period rise in the use of plastics and methanol blended products was marked. This versatile alcohol has been used for various applications.
COVID 19 Analysis
COVID made a bad and negative impact on the methanol market business. The production of methanol was decreased which hampered the supply chain. The COVID situation is continuing to disclose and has become a challenging factor. To reduce the spread of COVID many petrochemical industries stopped their manufacturing. As the petrochemical industry also manufactures methanol, so halting up of these industries stopped the production of methanol.
For the welfare of the public, the government imposed a country-wide lockdown and shutdown. He took all the necessary initiatives to aware the nation. He imposed strict rules and regulations on those violating law.
The Asia Pacific is noted to be the dominant region covering the largest methanol market share in 2019 and is expecting to continue this till 2025. Methanol market growth in this region shows its expansion in automotive industries in various regions of India and China. Nowadays, the government has decided to suggest the public use coal-based methanol heavy vehicles as it is cost-effective and advantageous. The government has also given the notice to use coal blocks in oil marketing companies in the regions of Jharkhand, Madhya Pradesh, Telengana, and Odisha. North America accounts to be the other largest prominent market for using methanol in water treatment facilities and denitrification processes. It so uses it to reduce the amount of the hazardous effluents so discharged. For the last 200 years, Methanol Institute in United State has used methanol for the denitrification process.
European markets also show their market expansion due to their demand in healthcare sectors. The regions of Latin America namely Brazil and Mexico are expected to grow due to their growth in the cosmetics and personal care industry. Methanol markets in regions of the Middle East and Africa during its assessment period show considerable growth in the automotive, packaging, and building, and construction industry.
The competitors in the market merge with other key players and make partnerships. They undergo some kind of research development and take some initiatives for the market. They involve in such researches that increase the potential and strength of the market. They focus on the adhesive resin market and launch new and innovative products. Some of the major key players present globally are Celanese Corporation located in the United States, BASF SE located in Germany, Methanex Corporation in Cannada, SABIC in Saudi Arabia, Petroleum National Berhard in PETRONAS, Mishubishi Gas Chemical Company Inc. in Japan, Valero Marketing and Supply Company in the United States, Mitsui, and Co. Ltd in Japan, Zagros Petrochemical Company i9n Iran, Sipchem in Saudi Arabia, Simalin Chemical Industries ltd in India, and solvents in the United Kingdom.
The report provides information about the qualitative and quantitative analysis during the assessment period. It also predicts the methanol market growth during the review period. The study of the industry covers the methanol market analysis in the regions of North America, the Middle East, Latin America, and Africa. The report provides comprehensive study and insights about drivers, opportunities, challenges, and the factors hindering the market growth. It gives collective representation about the market size and market growth. From methanol market analysis you can get information regarding the positions of suppliers and buyers. It describes the scenario of the market and gives a good evaluation of the competitors playing a major role in the market. The report summarises the recent developments, export and import business, transformation in market regulations, innovation of technology in the market, categorical application niches, and optimizable analysis of the market. The report also provides about the methanol market trends having a positive impact on the future.
|Market Size||2027: Significant Value|
|CAGR||2020-2027: Substantial CAGR|
|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||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market shows a steady growth which owes to the increase in its application and shows methanol market growth in the Asia Pacific and European regions.
This simple aldehyde has a variety of applications. Its combination with various other products leads to the production of urea, phenol, and HMTA. Asia Pacific region along with China covers the major methanol market share related to its production. It is also used for producing disinfectants. For the above points, formaldehyde balances the growth line of the environment thus giving a positive effect.
The Asia Pacific regions include several China, India, and Japan. China produced more than 20 million tons of coatings, thus having several paint companies. It has also launched a large number of methanol vehicles. The government also wants to make methanol the cooking fuel which will cause less damage to the environment.