Publishing: May 2021 | Report Code: CM12158 | Available Format: PDF
The global methanol market is projected to showcase strong growth in the coming years on account of the increasing demand for petrochemicals from the automotive and construction industries. With the increasing production of automobiles and growth in the construction sector worldwide, the market demand for methanol-derived polymers, such as polyolefins, is projected to increase, which, in turn, would propel the market growth.
The methanol market has been categorized into formaldehyde, methanol-to-olefin (MTO)/methanol-to-propylene (MTP), methyl tert-butyl ether (MTBE)/tertiary amyl methyl ether (TAME), dimethyl terephthalate (DMT), acetic acid, dimethyl ether (DME), methyl methacrylate (MMA), methylamines, and others, on the basis of derivative. Among these, formaldehyde is expected to account for a significant share throughout forecast period (2021–2030). This can be ascribed to the high-volume usage of formaldehyde in the construction, automotive, and personal care industries. Formaldehyde is used in the production of building materials, such resins and glues. In the automotive sector, formaldehyde is extensively used in the manufacturing of lightweight molded products for vehicles. In the personal care industry, formaldehyde-releasing agents are used as preservatives to eliminate the growth of bacteria or pathogens.
The methanol market has also been categorized on the basis of application into automotive, construction, electronics, paints & coatings, insulation, pharmaceuticals, packaging, solvents, and others. Of these, the automotive category is expected to account for a significant share in the market throughout the forecast period, owing to the increasing application of methanol in this sector. This includes the usage of the compound for the manufacturing of lightweight molded products. Additionally, it is used as an alternative fuel, either in pure or blended form, to gasoline. This is because methanol, unlike conventional gasoline fuel, emits relatively low quantities of nitrogen oxides (NOx) and carbon monoxide (CO) gases, which are harmful to the environment.
Geographically, Asia-Pacific (APAC) is expected to hold the largest market share throughout the forecast period. This can be ascribed to the high-volume consumption of methanol in the petrochemical companies of the region. In recent years, China has emerged as a hub for the production of paints & coatings, owing to which the consumption of the compound has been on the rise. Moreover, with the rising demand for petrochemicals in the automotive, construction, packaging, and personal care industries, the demand for the compound is expected to further increase during the forecast period.
The market demand for methanol has witnessed notable growth in recent years, and the trend is likely to continue in the coming years as well, primarily on account of its growing usage in the production of petrochemicals. Methanol is classified as a primary petrochemical, since it is used as a precursor in the production of many other petrochemical intermediates, such as olefins. Methanol-derived olefins, commonly referred as MTOs, possess all properties of conventional olefins, without being dependent on fossil fuels or crude oil for their production. Hence, the compound paves the way for petrochemical production without involving the use of crude oil as feedstock. With the increasing demand for polyolefins from various end-use industries, such as automotive, construction, packaging, and personal care, the consumption of MTO is likely to increase. Such factors are projected to drive the methanol market growth in the near future.
The rise in demand for fuel-grade ethanol is likely to restrain the market growth to a certain extent during the forecast period. This can be attributed to the fact that relative to ethanol, methanol possesses low calorific value and low energy density. Secondly, the compound is highly toxic and corrosive in nature, which poses a challenge in storing it in metal tanks. Owing to these factors, ethanol can be seen as a more promising alternative fuel, thus impacting the methanol market growth.
Some of the companies operating in the global methanol market are Celanese Corporation, BASF SE, Methanex Corporation, SABIC, and Petroliam Nasional Berhad (PETRONAS).
The study provides the historical as well as the forecast size of the methanol market.
The methanol market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Feedstock
Based on Derivative
Based on Sub-Derivative
Based on Application
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