Methanol Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Methanol, also commonly referred to as wood alcohol, methyl alcohol, or wood spirit, is typically the simplest form of alcohol, which is usually prepared by combining carbon monoxide gas and hydrogen in the presence of a catalyst. Methanol has various applications across several end-use industries including, automotive, construction, electronics, appliances, paints & coatings, insulation, pharmaceuticals, packaging (PET bottles), solvents. The global methanol market includes players engaged in developing and launching various methanol products for use in different end-use verticals.  The methanol market size is projected to grow at a compounded annual growth rate (CAGR) of 4.4% during the forecast period of 2022-2030.

Growth Drivers: -

The recent years have witnessed a steep surge in demand for methanol across various end-use industry verticals across the globe, especially among the construction and automotive industries. This is due to the growing usage of petrochemicals in these industries. Methanol is utilized in the large-scale production of petrochemicals. The adoption of methanol in adhesives, textiles, insulation materials, and plastics as a precursor has also risen. These are the main factors propelling the growth of the global methanol market.

Moreover, the leading players present in the global methanol market are increasingly focusing on adopting various growth strategies such as joint ventures, mergers & acquisitions, product launches, partnerships, etc. They are also looking to enhance their production capacities rapidly and expand their global footprints to cater to consumers' burgeoning demands and stay robustly competitive in the market. Such strategies from the players are boosting the overall growth of the global methanol market.

Furthermore, in the major developed countries across the globe, the preference for methanol-based fuel over conventional fuel gasoline is growing for bringing down nitrogen oxides, carbon monoxide, and hydrocarbon emission. This increasing usage of methanol as an alternative to conventional fuel is expected to bring about tremendous growth opportunities for the global methanol market during the forecast period of 2022-2030.

However, factors such as the hazardous impacts on health such as accumulation of acids in blood, blindness, and also death as a result of exposure or consumption of methanol and the usage of fuel-grade ethanol are expected to hinder the growth of the global methanol market to some extent during the forecast period.

Methanol Market Segmentation:

By Feedstock:

·         Coal

·         Natural Gas

·         Others

By Derivatives:

·         Gasoline

·         MTO/MTP

·         Formaldehyde

·         Methyl Tertiary Butyl Ether (MTBE)

·         Acetic Acid

·         Dimethyl Ether (DME)

·         Methyl Methacrylate (MMA)

·         Biodiesel

·         Others

By Sub-derivatives:

·         Gasoline additives

·         Olefins

·         UF/PF resins

·         VAM

·         Polyacetals

·         MDI

·         PTA

·         Acetate Esters

·         Acetic anhydride

·         Fuels

·         Others

By End-use Industry:

·         Construction

·         Automotive

·         Electronics

·         Appliances

·         Paints & Coatings

·         Insulation

·         Pharmaceuticals

·         Packaging (PET bottles)

·         Solvents

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Methanol Market Feedstock Review:

Based on feedstock, the global methanol market is segmented into coal, natural gas, and others. The natural gas segment dominated the market in 2021. The segment is expected to retain its dominance further in the market during the forecast period of 2022-2030. The primary factor attributed to the large share of this segment is the proliferating demand for natural gas as a feedstock from various end-use industries, including electronics, construction, automotive, solvents, pharmaceuticals, appliances, and packaging etc. However, the coal segment is estimated to attain the highest CAGR in the market during the forecast period of 2022-2030. The rising adoption of coal as a sustainable alternative raw material for large-scale production of methanol is the major factor ascribed to the high growth of this segment.

Methanol Market Derivatives Review:

Based on derivatives, the global methanol market is segmented into gasoline, MTO/MTP, formaldehyde, methyl tertiary butyl ether (MTBE), acetic acid, dimethyl ether (DME), methyl methacrylate (MMA), biodiesel, and others. The formaldehyde segment led the market in 2021. The segment is anticipated to maintain its lead further in the market during the forecast period of 2022-2030. The rapid expansion of the construction industry worldwide, the growing application of resins produced via formaldehyde in furniture production, and the automotive and personal care industries are predominantly driving the growth of this segment. However, the MTO/MTP segment is projected to register the highest growth in the market during the forecast period of 2022-2030. The increasing demand for olefins in the petrochemical industry and the surging number of MTO/CTO plants in China to produce olefins through methanol are majorly driving the segment’s growth.

Methanol Market Sub-derivatives Review:

Based on sub-derivatives, the global methanol market is segmented into gasoline additives, olefins, UF/PF resins, VAM, polyacetals, MDI, PTA, acetate esters, acetic anhydride, fuels, and others. The UF/PF resins segment acquired the largest share of the market in 2021. The segment’s position is projected to remain unchanged during the forecast period of 2022-2030, owing to the fast-paced growth of the furniture industry across the globe. However, the olefins segment is predicted to achieve the highest CAGR in the market during the forecast period of 2022-2030. The burgeoning demand for olefins in the building and construction industries is primarily contributing to the growth of this particular segment.

Methanol Market End-use Industry Review:

Based on end-use industry, the global methanol market is segmented into construction, automotive, electronics, appliances, paints & coatings, insulation, pharmaceuticals, packaging (PET bottles), solvents, and others. The automotive segment held the largest share of the global market in 2021, and the trend is expected to continue throughout the forecast period of 2022-2030. Factors attributable to the large share of this segment include the escalating demand for automobiles and the high demand for vehicles development across the globe.  However, the solvents segmented in poised to experience the highest growth in the market during the forecast period owing to the rising demand of solvents in the paints & coatings, pharmaceutical, and construction industries.

Regional Outlook:

The methanol research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific and Latin America, and the Middle East & Africa.

The Asia Pacific region commanded the largest share of the global methanol market in 2021, followed by North America and Europe. The region is predicted to remain dominant and grow at the highest rate in the market during the forecast period of 2022-2030. Countries such as India and China in the region have the presence of rapidly growing automotive, construction, and paint & coatings industries, which require methanol in large quantities. This is among the major factors making the region the largest shareholder in the market. Also, the production and consumption of methanol are the largest in this region. Moreover, the governments' rising number of regulations and initiatives to encourage the usage of methanol in vehicles and cooking to reduce the damage to the environment in the region is another factor significantly boosting the growth of the methanol market in the Asia Pacific region. India, China, Japan, South Korea, and Australia are among the major factors contributing to the growth of the market in the region.

The report also identifies the country market outlook for methanol, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

Key Companies in Methanol Market:

The research report offers a competitive analysis of prominent companies operating in the global methanol market. Some of the leading players profiled in the market research report include:

·         Mitsubishi Gas Chemical Company Inc.

·         Mitsui & Co., Ltd.

·         LyondellBasell Industries B.V.

·         Methanex Corporation

·         HELM

·         Proman Methanol AG

·         SABIC

·         Yanzhou Coal Mining Co.

·         Zagros Petrochemical Company

·         Celanese Corporation

·         BASF SE

·         PETRONAS

·         OCI N.V.

·         Metafrax Chemicals

·         SIPCHEM

·         Southern Chemical Corporation

·         Simalin Chemical Industries Pvt. Ltd. 

·         Yankuang Group

·         Other Players