Market Overview

Market Research Future (MRFR) announces the publication of its research report Global Methanol Market, 2023.

Methanol Market is expected to touch more than USD 61 Billion by 2023 with a CAGR of around 7.5%.

Methanol has many industrial applications and is also found in a number of household products including varnishes, antifreeze, windscreen wash, and fuel for model aircraft. Every day approximately 225 Million Litres of methanol is used globally. Methanol is used to produce other chemical derivatives, which in turn are used to produce thousands of products that touch our daily lives.

Methanol Market is growing with the rapid pace; mainly due to the expanding automotive industry. According to a recent study report published by the Market Research Future, the global market of methanol is prospering and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2018 – 2023).

Methanol Market Segmentation:

Methanol market has been segmented by feedstock, derivative, end-use industry, and region.

Based on feedstock, the market has been segmented into natural gas, oil, coal, renewable resources, and others.

Based on derivative, the market has been segmented into formaldehyde, acetic acid, dimethyl ether, gasoline, solvents, methanol to olefins, methyl tart butyl ether, methyl methacrylate, and others.

Based on end-use industry, the market has been segregated into transportation, building and construction, electrical and electronics, packaging, paints and coatings, pharmaceuticals, water treatment, and others.

Leading Players

Eastman Chemical Company (U.S.), Celanese Corporation (U.S.), RIMA Group (Brazil), BASF SE (Germany), Atlantic Methanol Production Company LLC (U.S.), Methanex Corporation (Chile), DuPont (U.S.), MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), MITSUI & CO., LTD. (Japan), Zagros Petrochemical Company (ZPC) (Iran), and Methanol Holdings (Trinidad) Limited (Trinidad and Tobago) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global methanol market.

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Methanol Market Application:

Methanol Market has seen a substantial growth due to increasing demand of from its application industries. This results into a higher growth rate at the end of forecasted period. As per the market analysis, different factors have created boom in the global methanol market are rising application segment, increasing demand for petrochemicals, growing construction and automotive industries and emerging economies.

Methanol is extensively used as an alternative fuel in internal combustion engines due to its cost-effective nature and higher efficiency offered by the product. Moreover, methanol’s derivative, formaldehyde is used in paints, plastics, explosives and plywood due to its extraordinary blending properties and high-octane rating. A surge in demand in the end-use industries are prompting the manufacturers and investors to shift their focus from natural gas resources to methanol product in the growing consumption of methanol product in various applications is the major factor behind their growth in the market.

Methanol is used as a transportation fuel in engines and other systems because it increases the performance and efficiency. Its chemical intermediates such as formaldehyde and gasoline blended with methanol are used in end-use industries that offer cost-effective nature and ease of application to the product. Methanol are used in automotive, electrical & electronics, aerospace, construction, pharmaceutical, and medical to provide optimal performance operating systems.

Methanol Market Regional Analysis:

Geographically, Asia-Pacific region holds the major portion of global methanol market. China is the leading country in the market owing to growing olefins production in methanol plants. Increasing consumption of the product in construction, automotive, paints & adhesives, pharmaceutical and electronics has boosted the methanol market demand in China, India, Japan and Malaysia. North America has witnessed significant growth owing to ample availability of natural gas reserves. Additionally, the European region has witnessed a stagnant growth due to insufficient raw materials available in the market.

Methanol Market Competitive Analysis:

Methanol Market appears to be competitive with the presence of several large and small players operating in the global market. These major players are competing in the market on the basis of price, type, quality, technology and innovation. Methanol market is augmented to grow at a higher growth and likely to attract many entrants in the market resulting in to healthy competition in the future. Manufacturers operating in the methanol market are striving to respond to the growing demand for the product in automotive, construction, aviation and others.

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