New York, USA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Methanol Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Methanol Market Information by Feedstock, Derivative, End-Use Industry, and Region - Forecast till 2030”, the market is estimated to grow at a 5.5% CAGR to reach USD 26.6 Billion by 2030.
Market Synopsis
Methanol is a colorless, odorless, flammable liquid having properties resembling those of ethyl alcohol (ethanol). This chemical is typically combined with ethyl alcohol to create denatured alcohol, which is employed in industrial settings because of its toxicity. The market is projected to be motivated by the increased preference for the product as a feedstock for making many chemicals, from polymers to solvents. End-users transition to sustainable fuels will open up new market expansion prospects. This alcohol's adaptability has been used in useful ways to meet the needs of an expanding global population.
Methanol serves as a versatile fuel. It is regarded as a fundamental component of countless everyday materials. Sales are anticipated to be primarily influenced by tightening limits on methanol usage and its blending into fuel. Heavy fuels like gasoline and diesel are the main causes of environmental degradation on a global scale, which results in multiple climatic changes and global warming. It is anticipated that switching to methanol and fuels combined with it will greatly lessen the impact of climate change. The usage of methyl alcohol as a transportation fuel has benefits, such as the manufacturing from renewable feedstocks and high-octane fuels that reduce hazardous emissions when blended with gasoline.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/1764
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 26.6 Billion |
| CAGR | 5.5% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Feedstock, Derivative, End-Use Industry And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Methanol is emerging as a cost-effective alternative in the form of a marine fuel |
| Demand of the methanol market share as a marine fuel are witnessing global growth. |
Market Competitive Landscape:
The illustrious contenders in the methanol market are:
- Mitsubishi Gas Chemical Company Inc. (Japan)
- Valero Marketing and Supply Company (US)
- Mitsui & Co. Ltd (Japan)
- Zagros Petrochemical Company (Iran)
- Celanese Corporation (US)
- BASF SE (Germany)
- Methanex Corporation (Canada)
- SABIC (Saudi Arabia)
- Petroliam Nasional Berhad (PETRONAS)
- Sipchem (Saudi Arabia)
- Simalin Chemical Industries Limited (India)
- Solventis (UK)
Market U.S.P. Covered:
Market Drivers:
By the end of 2030, the market revenue for methanol will have reached fantastic levels thanks to the growth-driving prospects for the market size. As one of the ingredients, methanol is a cost-effective, clean-burning marine fuel that aids in meeting the shipping industry's ever-stricter emissions and regulations that are put out over the projection period. Since it can be purchased in liquid form, the current bunkering infrastructure can handle methanol with very modest adjustments. Similar to the expense of converting to and using alternative fuels, the cost of modifying fuel vessels to run on methanol is relatively cheap.
Its use is anticipated to rise due to the increased demand from sectors including the construction and automobile industries worldwide. Methyl alcohol is a base for many other chemicals and compounds, including those used to make plastics, textiles, insulation, and adhesives. Additionally, the market will expand due to the need for adhesives from the consumer goods and furniture industries. During the projected period, this market's growth is also anticipated to be accelerated by the rising use of methanol in fuel blending applications. Methanol is becoming increasingly common as a fuel for vehicles and the marine industry. This is because methanol, as opposed to gasoline-based fuel, is an economical and adaptable transportation fuel. Due to these characteristics, methanol can replace gasoline-based fuels like diesel.
Market Restraints:
It takes much capital to produce methanol for the market from any carbon-based source. The market participants must recognize the necessity of securing raw materials for an affordable and continuous supply for a while. The required time frame and capital investments are determined on a per-project basis after a significant amount of R&D and FEED of the project is guaranteed.
The construction plants likewise demand a high level of significant expenditure. The availability of a sizeable amount of capital is also necessary for the post-phases of the market, such as maintenance accompanied by the installation process of technology and others. Its intake or inhalation can cause mortality, blood acid buildup, and blindness. Additionally, exposure can cause renal failure, heart and breathing failure, seizures, and nausea and vomiting.
Browse In-depth Market Research Report (141 Pages) on Methanol : https://www.marketresearchfuture.com/reports/methanol-market-1764
COVID 19 Analysis
Due to the slowdown in manufacturing activity, the COVID-19 pandemic is anticipated to have a more severe effect on the expansion of the methanol sector. Due to the unexpected impacts of the coronavirus, prominent corporations were obliged to temporarily close their manufacturing facilities due to a sharp decline in manufacturing operations. The halt in manufacturing has reduced the need for methanol-based paints, adhesives, and other chemicals, which has led to a decrease in methanol production.
Market Segmentation
By feedstock, the market includes segments such as natural gas, oil, and coal.
By derivative, the market includes segments such as formaldehyde, acetic acid, and dimethyl ether.
By end-use industry, the market includes segments such as transportation, building and construction and others.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=1764
Regional Insights
The region that dominates the worldwide methanol market is expected to continue to develop at the quickest rate over the forecast period. Because methanol is a clean fuel and an alternative to fuels based on gasoline, its demand is rising quickly in nations like China and India. Northeast Asian nations collectively accounted for over 54% of the world's capacity in the same year. Growth in this region is attributed to the need for fueling applications, such as creating green fuels and fuel blending in North America.
The region's expanding petrochemical sector will further aid the market's development. The market in this region will expand due to Europe's growing desire for sustainable products and the automobile industry. Brazil is a major contributor to methanol consumption in Central and South America. Brazil is regarded as one of the major exporters of the goods, aided by significant international corporations. Due to its superior efficacy in lowering formaldehyde in gasoline and ease of transportation, methyl tert-butyl ether is typically favored over ethanol. These elements have had a favorable impact on the region's output.
Share your Queries @ https://www.marketresearchfuture.com/enquiry/1764
Discover more research Reports on Chemical Industry, by Market Research Future:
Metallized Films Market: Information by Metal (Aluminum, Copper, Nickel, Chromium), Material Used (PE, PET, PP, Nylon), Application (Flexible Packaging, Lamination), End-Use Industry (Food & Beverage, Pharmaceuticals), & Region—Forecast till 2030
Flexible Foam Market Research Report by Type [Polyurethane (Slabstock, Molded, Integral), Polypropylene, Polyethylene], by End Use Industry [Furniture & Upholstery ((Residential, Commercial)) Automotive ((Seats, Headrest, Steering Wheel, Air Filter Gaskets)), Packaging, Consumer Goods ((Clothing & Footwear, Household & Personal Care, Consumables)), Construction] and Region - Forecast till 2030
Antimony Market: Information by Type (Antimony Ingot, Antimony Trioxide), Application (Flame Retardants, Catalysts, Alloy Strengthening Agents), End-Use Industry (Transportation, Chemicals, Electronics, Ceramics & Glass) & Region - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
