Global Methanol Market Size to Surge $37.8 Billion by 2028 | Rising Demand for Chemicals in Asia Pacific According to Vantage Market Research

WASHINGTON, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Clean fuels have gotten a lot of traction in recent years. Low-emission fuels are become much more common due to environmental concerns. The usage of methanol as a component in clean fuels may be a significant growth driver for the Global Methanol Market over the assessment period. The Global Market revenue was valued at USD 29.4 Billion in 2021.

The Global Methanol Market size is forecast to reach USD 37.8 Billion by 2028 and is expected to grow to exhibit a CAGR (Compound Annual Growth Rate) of 4.3% during the forecast period; states Vantage Market Research, in a report, titled “Methanol Market Size, Share & Trends Analysis Report by Feedstock (Coal, Natural Gas, Other Feedstocks), by Derivatives (Gasoline, MTO/ MTP, Formaldehyde, Methyl Tertiary Butyl Ether (MTBE), by Sub-Derivatives (Gasoline Additives, Olefins, UF/ PF Resins, VAM), by End User Industry (Construction, Automotive, Electronics, Appliances), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Industry Findings & Insights from the report:

• The global Methanol Market was valued USD 29.4 Billion in 2021 and is all set to surpass USD 37.8 Billion by 2028, exhibiting a CAGR of 4.3% during the forecast period 2022-2028.           
• In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
• In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
• The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
• Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Methanol industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
  

List of Prominent Players in Methanol Market:

• Methanex Corporation (Canada)
• HELM Proman Methanol AG (Switzerland)
• SABIC (Saudi Arabia)
• Yanzhou Coal Mining Co. (China)
• Zagros Petrochemical Company (Iran)
• Celanese Corporation (Texas)
• BASF SE (Germany)
• PETRONAS (Malaysia)
• Mitsubishi Gas Chemical Company Inc. (Japan)
• Mitsui & Co. Ltd. (Japan)
• LyondellBasell Industries B.V. (U.S)
• OCI N.V. (Netherlands)
• Metafrax Chemicals (Russia)
• SIPCHEM (Saudi Arabia)

Market Dynamics:

Drivers:

Increasing Demand for Chemicals in Asia Pacific Region

Petrochemicals are produced on a massive scale using methanol. The market for methanol is driven by the increase in petrochemical demand in the Asia Pacific (APAC). The primary factor boosting the Methanol Market is the usage of petrochemicals in end-use industries, including the automotive and construction sectors. Methanol, ethylene, propylene, butadiene, toluene, and xylenes have the highest production volumes of organic compounds in the petrochemical sector. Olefins are the general term for butylene, ethylene, propylene, and butadiene. Methanol is a key petrochemical precursor to a wide range of chemical compounds. Therefore, a significant factor in the expansion of methanol in the petrochemical sector is the manufacture of olefins from it.

The Methanol Market's third-largest and fastest-growing derivative sector is MTO/MTP. Applications for methanol-to-olefins and methanol-to-propylene (MTO/MTP) are expanding. China is the only country driving this usage. The technique for converting methanol to olefins was introduced in 1990. In this process, methanol is first transformed into dimethyl ether (DME), then into hydrocarbons. These hydrocarbons are subsequently transformed into plastics as a by-product, with much water. The main raw materials for polyethylene and polypropylene are ethylene and propylene. Propylene is in greater demand than ethylene at the moment. The need for olefins cannot be met by the conventional technologies now in use. MTO methods are the most cost-effective and supply the market with olefins.

China has several MTO facilities that use coal as its primary feedstock. Due to the enormous demand for plastics like polyethylene and polypropylene in end-use industries, MTO plant expansion is accelerating in China. As a result, China's massive production of olefins from methanol and the growth of MTO facilities the main factors are driving the Methanol Market in the APAC.

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Restraint:

Use of Fuel-Grade Ethanol

One of the most important end markets for methanol is the automotive industry. For a long time, alcohol-based fuels have been employed in automotive applications. They have been used chiefly as high-octane fuels for racing automobiles. These alcohols have fewer emissions than other fuels because they are hydrocarbon fuels. Ethanol and methanol are the two forms of alcohol that are utilized as fuels. Methanol is more hazardous to handle than ethanol because it is much more corrosive when it comes into touch with metals, necessitating an entirely new fuel distribution system. Compared to methanol, ethanol is less chemically hazardous and has a higher energy density per gallon. In comparison, methanol only has roughly 67% of gasoline's energy per gallon. An appealing substitute is an ethanol since it has a higher energy density than methanol and is still a liquid.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide and the Global Methanol Market is not an exception. Administrative bodies worldwide implemented curb measures, for instance, lockdown, to ensure strict social distancing norms to restrict the spread of the disease. Small and medium-scale industries which are technology partners to the Methanol Market companies suffered impact due to the pandemic. In addition, the Methanol Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the COVID-19 spread.

Since the beginning of 2022, the supplies and workforce are expected to resume normal which will further bolster Methanol Market industry coming back on track. Vantage Market Research, while performing the research on the topic for the Global Methanol Market has considered the end-to-end impact of COVID-19 on the Global Methanol Market. In addition, the study also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Methanol Market industry. Furthermore, the study also does an exhaustive analysis while estimating the present and the future market size for the Global Methanol Market industry primarily based on the aforementioned data points:

1. Impact Assessment of COVID-19 Pandemic

a. North America

b. Europe

c. Asia Pacific

d. Latin America

e. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long-Term Dynamics

5. Short-Term Dynamics

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The report on Methanol Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles

Regional Analysis:

Asia Pacific is expected to dominate the growth of Methanol Market in 2021. Asia Pacific is predicted to steer the Methanol Marketplace proportion due to the rapidly increasing consumption of methanol in the construction, automotive, and electronics industries in countries such as China, Japan, India, and South Korea, among other countries in the region.

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Methanol Market Size, Share & Trends Analysis Report by Feedstock (Coal, Natural Gas, Other Feedstocks), by Derivatives (Gasoline, MTO/ MTP, Formaldehyde, Methyl Tertiary Butyl Ether (MTBE)), by Sub-Derivatives (Gasoline Additives, Olefins, UF/ PF Resins, VAM), by End User Industry (Construction, Automotive, Electronics, Appliances), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Recent Developments:

In September 2021, SABIC announced the latest developments of establishing a petrochemical joint venture project with ExxonMobil on the US Gulf Coast. This project supports the company’s global growth strategy of diversifying its feedstock sources and strengthening its petrochemical manufacturing presence in North America for a wide range of products.

In July 2021, Methanex Corporation and Mitsui O.S.K. Lines (MOL) announced that the parties have concluded Key Commercial Terms for the purchase and sale of an equity position in, and the establishment of a strategic partnership involving Methanex’s Waterfront Shipping (WFS) subsidiary. MOL will acquire a 40 percent minority interest in WFS for USD145 million. Methanex will retain the remaining 60 percent majority interest in WFS and continue to operate WFS as a key element of its global supply chain capabilities.

Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Methanol Market for the base year and forecast period?    

This market titled “Methanol Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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