NEW YORK, Feb. 29, 2024 /PRNewswire/ — The methanol market is expected to grow by USD 6.13 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 3.34% during the forecast period, according to Technavio. Rising demand for formaldehyde and its derivatives is notably driving the methanol market. However, factors such as Fluctuating methanol prices may impede market growth. The market is segmented by derivative type (formaldehyde, gasoline, acetic acid, DME, and MTO/MTP and others), end-user (automotive, construction, paints and coatings, electronics, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the methanol market including BASF SE, Celanese Corp., Coogee, Eni SpA, GNFC Ltd., INEOS Group Holdings SA, LyondellBasell Industries N.V., Methanex Corp., Mitsubishi Gas Chemical Co. Inc., MITSUI and CO. LTD., Oberon Fuels Inc., OCI NV, PETRONAS Chemicals Group Berhad, Proman GmbH, Saudi Arabian Oil Co., Simalin Chemical Industries Pvt. Ltd., Thermo Fisher Scientific Inc., Zagros Petrochemical Co., Chevron Corp., and ENERKEM Inc. Request a FREE Sample Report.
Company Analysis
BASF SE – The company offers methanol as biofuels the main applications are MTBE, DME biodiesel production, and gasoline blending.This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information
Segmentation Overview
Derivative Type
- The formaldehyde segment is estimated to witness significant growth during the forecast period. In the manufacture of rubber and adhesives, formaldehyde is mostly used. In addition, formaldehyde-based resins are widely used in the construction industry to manufacture building materials such as insulation foams, laminates, and fiberboards.
- end-user (automotive, construction, paints and coatings, electronics, and others)
Geography
- APAC is estimated to contribute 74% to the growth of the global market during the forecast period. One of the main factors that have driven growth in this region is the growing demand for methanol and its derivatives from sectors such as construction, car manufacturing, textile production, and furniture. In addition, given the development of the market and fierce competition among countries in the APAC region, a shift is taking place towards the APAC markets. View FREE PDF Sample Report
Analyst Review
The methanol market is experiencing significant growth, fueled by its diverse applications across various industries. In the automotive sector, methanol emerges as an attractive alternative fuel, especially with the rising concerns over environmental issues and regulatory changes. Its use in automotive applications extends to marine and manufacturing industries, where it serves as a clean-burning fuel, offering advantages such as high energy density and lower emissions compared to petrol derivatives.
One of the key drivers for the expansion of the methanol market is the establishment of methanol refueling infrastructure, facilitating its adoption as an alternative fuel in transportation. Moreover, the capital-intensive environment and political challenges surrounding traditional fuels prompt the exploration of alternative options like methanol, which can leverage existing natural gas reserves.
Beyond its role as an alternative fuel, methanol finds extensive use in various end-use industries such as electronics, pharmaceuticals, appliances, packaging, and construction. In the construction sector, methanol contributes to building materials through its incorporation in UF/PF resins, enhancing adhesive qualities and providing high strength while ensuring resistance to water, heat, and chemicals.
Furthermore, methanol’s derivative, formaldehyde, holds a significant market share, particularly in the production of solvents and pharmaceuticals. Despite political and environmental challenges, the methanol market continues to expand, driven by its versatile applications and the growing demand for clean-burning fuels. As regulatory changes encourage the adoption of environmentally friendly alternatives, methanol stands poised for further growth and innovation across diverse industries.
The Methanol Market presents attractive opportunities, especially in automotive applications. Developing methanol refueling infrastructure enhances accessibility. It serves as an attractive petrol derivative and biodiesel alternative. Formaldehyde, a key methanol derivative, finds extensive industrial usage. View FREE PDF Sample Report
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ToC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
