Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Methanol Market by Feedstock (Natural Gas, Coal), Derivative (Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA, Acetic Acid, DME, Biodiesel), Sub-Derivative, End-use Industry (Automotive, Construction, Electronics), and Region - Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Methanol market is expected to grow from USD 30.9 billion in 2023 to USD 38.0 billion by 2028, at a CAGR of 4.2% from 2023 to 2028.
The methanol market is experiencing substantial growth, primarily driven by the increasing demand for methanol across various derivative industries such as formaldehyde, MTO/MTP, and gasoline. This comprehensive report offers valuable insights into the market, including segmentation based on derivatives, sub-derivatives, end-use applications, and regional analysis.
One of the key growth regions is the Asia Pacific, with China being a significant consumer of methanol due to rapid industrialization, infrastructure expansion, and a thriving chemical industry.
The report also profiles major players in the methanol market, such as Methanex Corporation, HELM Proman Methanol AG, SABIC, Yankuang Energy Group Company Limited, Zagros Petrochemical Company (ZPC), Celanese Corporation, and BASF SE, providing an in-depth assessment of their market shares and core competencies.
Furthermore, it offers a comprehensive analysis of competitive developments, including acquisitions, agreements, investments, mergers, product launches, and partnerships. The report highlights key drivers, restraints, opportunities, and challenges shaping the methanol market's future, as well as insights into product development, innovation, market development, and diversification strategies.
Overall, this report serves as an invaluable resource for industry stakeholders seeking a deeper understanding of the dynamic methanol market.
By feedstock, the coal segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028
Based on feedstock, the coal is estimated to be the fastest-growing segment during the forecast period. For large scale methanol production, coal can be one of the sustainable raw materials. The easy availability and low cost are another factors that are driving the coal feedstock demand.
By derivative, the MTO/MTP segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028
Based on derivative, the MTO/MTP is estimated to be the fastest-growing segment during the forecast period. The demand of olefins is increasing in petrochemical industry.
MTO is used to manufacture olefins thus the demand for MTO plants is also increasing in countries such as China. Propylene production is the main goal of the MTP process, a particular variation of the MTO process. It includes the same procedures as the MTO method for converting methanol into propylene.
By sub derivative, the olefins segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028
Based on sub derivative, the olefins is estimated to be the fastest-growing segment during the forecast period. In the construction industry there is high demand of olefins.
The production of chemical and polymer products such as plastic, detergent, glue, rubber, and food packaging extensively uses olefins as a raw material. By using methanol as a feedstock rather than conventional fossil fuel-based sources, the MTO and MTP processes offer other ways to produce olefins.
By end-use industry, the solvent segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028
Based on end-use industry, the solvent is estimated to be the fastest-growing segment during the forecast period. Due to the significant growth in the construction industry, Asia Pacific dominates the methanol market in the solvents end-use industry segment.
Methanol is frequently used as a solvent in laboratories for numerous analytical and research reasons. Methanol is frequently used in the laboratory because of its affordability and compatibility with numerous analytical procedures.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 464 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $30.9 Billion |
| Forecasted Market Value (USD) by 2028 | $38 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Premium Insights
- Growing Demand for Fuel and Downstream Petrochemical Products to Drive Methanol Market
- Mto/Mtp Segment to Register Highest Growth During Forecast Period
- Coal Segment and China Accounted for Largest Shares in Asia-Pacific Methanol Market in 2022
- China and Canada to Offer Lucrative Opportunities During Forecast Period
Case Study Analysis
- Carbon Recycling International Obtains Renewable Methanol from Co2
- Enerkem Produces Renewable Methanol from Municipal Solid Waste
- Biomcn Processes Renewable Methanol from Biogas
Market Dynamics
Drivers
- Increasing Demand for Chemicals in Asia-Pacific
- Growing Demand from Automotive and Construction Industries
Restraints
- Preference for Fuel-Grade Ethanol
Opportunities
- Use of Methanol as Alternative Fuel in Marine and Manufacturing Industries
Challenges
- Capital-Intensive Environment
- Volatility in Feedstock Prices
Industry Trends
- Supply Chain Analysis
- Value Chain Analysis
- Trends/Disruptions Impacting Customer Business
- Ecosystem
- Patent AnalysisTechnology Analysis
- Regulatory Landscape
- Potential of Methanol for Co2 Emission Reduction
- Methanol Production Cost Analysis, by Feedstock
- Renewable Methanol
Company Profiles
Key Players
- Methanex Corporation
- Helm Proman Methanol Ag
- Sabic
- Yankuang Energy Group Company Limited
- Zagros Petrochemical Company
- Celanese Corporation
- Basf Se
- Petroliam Nasional Berhad (Petronas)
- Mitsubishi Gas Chemical Company Inc.
- Mitsui & Co., Ltd.
- Lyondellbasell Industries Holdings B.V.
- Oci N.V.
- Sipchem
- Metafrax Chemicals
Other Companies
- Atlantic Methanol Production Company LLC
- Enerkem
- Oberon Fuels
- Gujarat Narmada Valley Fertilizers & Chemicals Limited
- Deepak Fertilisers & Petrochemicals Corp. Ltd.
- Qatar Fuel Additives Company
- Coogee Chemicals
- China Risun Group Limited
- Rashtriya Chemicals & Fertilizers Ltd.
- Rosneft
- Viromet S.A.
For more information about this report visit https://www.researchandmarkets.com/r/wfwpvx
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