The global methanol market is estimated to surpass $20 billion by 2028, growing at an estimated CAGR of more than xx% from 2018 to 2023. The market is majorly driven by the growing demand for methanol, which is primarily used as a chemical intermediate and alternative fuel. Furthermore, new investments, rising demand for fuel, and cheap coal prices are the driving factors for the increase in annual production capacities across the globe.
What is Methanol?
Methanol is a basic and simple alcoholic compound used in the manufacture of a plethora of chemicals. It has applications that are grouped into traditional chemical derivatives and energy-related applications. The end products of methanol are used in industries such as construction, automotive, electronics, paints, packaging, and many more. Methanol is also used as an alternative fuel owing to its low cost and ease of manufacture.
The overall methanol market has undergone considerable changes in the past two decades. These changes include alteration in regional demand dominance, advancements in new end uses, and development of novel manufacturing centers. This market’s vitality has resulted in newer trade flows, pricing and economic refinements which, formerly, had not existed in the industry with closer links to other chemical product areas, adding further sophistication in determining the course of the market.
This report gives an in-depth analysis of the Methanol market by application, and geography.
What are the major applications of Methanol?
Methanol is used as a feedstock for producing various chemicals such as formaldehyde and acetic acid. The increased consumption from developing countries owing to rapid industrialization is considered as the key driver for the overall market.
The applications of methanol are increasing rapidly as methanol is cost effective and easy to manufacture... The major applications are in the manufacture of formaldehyde, acetic acid, fuels and Methanol-to-Olefins (MTO). Among these applications, formaldehyde is the major application. There is also a significant demand for methanol as an alternative fuel. Methanol-derived products are used in end industries such as automotive, pharmaceuticals, construction, coatings, and others.
Market Research and Market Trends of Methanol Ecosystem
- The growing prices of methanol due to rise in demand for applications as marine and automotive fuel.
- In China, 3.18 MT of production capacity has been shut down.
- SABIC’s Line 5 methanol production of 1.7MT been shut down.
- The growing demand for olefins manufactured from methanol has caused capacity expansions and newer plant capacities.
- With a production capacity of 833,000 metric tons per year, Jiangsu Sailboat Petrochemical Company’s MTO unit is the largest single-train MTO unit in the world.
- Rising volatile nature of the European Methanol Market.
Who are the major players in the Methanol market?
The companies referred to in the market research report include Methanex Corporation, Mitsubishi Gas Chemical Co., Inc. (MGC), SABIC, and Methanol Holdings (Trinidad) Limited(MHTL).
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.