The global methanol market was valued at $35,320.0 million in 2021, and is projected to reach $54,630.4 million by 2030, growing at a CAGR of 5.0% from 2022 to 2030.
Methanol, also known as methyl alcohol, is a clear liquid that is widely used in different day-to-day products such as paints, cosmetics, plastics, and others. Methanol is the simplest member of a group of organic chemicals which is biodegradable and water-soluble. It is a clean burning fuel which offers economic, environmental benefits, and can be used as a fuel to power ships, vehicles. Also, it can be used for heating homes and cooking food.
The use of methanol as a hydrogen carrier to bring energy transition and to replace the use of gasoline-based fuels is gaining huge traction. This is because hydrogen is a clean alternative fuel that emits only water upon combustion. Methanol is an excellent hydrogen carrier that can pack more hydrogen in one simple alcohol molecule. As methanol is liquid at ambient conditions it is easy to handle, transport, and store.
Methanol is widely used in wastewater treatment facilities as it plays a vital role in cleaning the water through the process called denitrification. This process converts excess nitrate from wastewater into nitrogen gas, that is released into the atmosphere thereby preventing the pollution of sensitive watersheds. At present there are more than 200 wastewater treatment facilities that use methanol for denitrification process. For instance, the Blue Plains Wastewater Treatment Facility, located in Washington D.C., is one of the largest wastewater treatment facilities that uses methanol for denitrification process.
The methanol market is segmented on the basis of feedstock and end-use industry. By feedstock, it is classified as coal, natural gas, and others. By end-use industry, it is classified as automotive, construction, electronics, appliances, paints and coatings, insulation, pharmaceutical, packaging, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Celanese Corporation, BASF SE, Methanex Corporation, SABIC, Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company, Inc., Valero, Mitsui & Co., Ltd., Zagros Petrochemical Co., and Methanol Holdings (Trinidad) Limited.
Methanol, also known as methyl alcohol, is a clear liquid that is widely used in different day-to-day products such as paints, cosmetics, plastics, and others. Methanol is the simplest member of a group of organic chemicals which is biodegradable and water-soluble. It is a clean burning fuel which offers economic, environmental benefits, and can be used as a fuel to power ships, vehicles. Also, it can be used for heating homes and cooking food.
The use of methanol as a hydrogen carrier to bring energy transition and to replace the use of gasoline-based fuels is gaining huge traction. This is because hydrogen is a clean alternative fuel that emits only water upon combustion. Methanol is an excellent hydrogen carrier that can pack more hydrogen in one simple alcohol molecule. As methanol is liquid at ambient conditions it is easy to handle, transport, and store.
Methanol is widely used in wastewater treatment facilities as it plays a vital role in cleaning the water through the process called denitrification. This process converts excess nitrate from wastewater into nitrogen gas, that is released into the atmosphere thereby preventing the pollution of sensitive watersheds. At present there are more than 200 wastewater treatment facilities that use methanol for denitrification process. For instance, the Blue Plains Wastewater Treatment Facility, located in Washington D.C., is one of the largest wastewater treatment facilities that uses methanol for denitrification process.
The methanol market is segmented on the basis of feedstock and end-use industry. By feedstock, it is classified as coal, natural gas, and others. By end-use industry, it is classified as automotive, construction, electronics, appliances, paints and coatings, insulation, pharmaceutical, packaging, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Celanese Corporation, BASF SE, Methanex Corporation, SABIC, Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company, Inc., Valero, Mitsui & Co., Ltd., Zagros Petrochemical Co., and Methanol Holdings (Trinidad) Limited.
Key Market Segments
By Feedstock
- Coal
- Natural Gas
- Others
By End-use Industry
- Paints and Coatings
- Insulation
- Pharmaceutical
- Packaging
- Others
- Automotive
- Construction
- Electronics
- Appliances
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- Celanese Corporation
- BASF SE
- Methanex Corporation
- SABIC
- Petroliam Nasional Berhad (PETRONAS)
- Mitsubishi Gas Chemical Company, Inc.
- Valero Energy Corporation
- Mitsui & Co., Ltd.
- Zagros Petrochemical Co.
- Methanol Holdings (Trinidad) Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: METHANOL MARKET, BY FEEDSTOCK
CHAPTER 5: METHANOL MARKET, BY END-USE INDUSTRY
CHAPTER 6: METHANOL MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Methanol Market," the methanol market was valued at $35.3 billion in 2021, and is estimated to reach $54.6 billion by 2030, growing at a CAGR of 5.06% from 2022 to 2030.Methanol also known as methyl alcohol, wood spirit, wood alcohol which is light, odorless, volatile, and flammable. Methanol is gaining significant popularity in day-to-day applications where it is used in aerosols, clothing, fertilizer, decorative laminates, urethane foam, carpeting, solvents, fragrances, fiberglass insulation binder, and others. The properties such as low production cost as the production of methanol is cheaper compared to alternative fuels is estimated to propel the methanol industry demand in the upcoming years. Methanol offers increased energy security as it is manufactured from different carbon-based feedstocks such as biomass.
The methanol market is segmented on the basis of feedstock and end-use industry. By feedstock, it is classified into coal, natural gas, and others. By end-use industry, it is classified into automotive, construction, electronics, appliances, paints and coatings, insulation, pharmaceutical, packaging, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Celanese Corporation, BASF SE, Methanex Corporation, SABIC, Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company, Inc., Valero, Mitsui & Co., Ltd., Zagros Petrochemical Co., and Methanol Holdings (Trinidad) Limited.
The report focuses on the global methanol market and the major products & applications, where methanol is used. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for methanol in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL METHANOL MARKET
- Sales of methanol are directly proportional to the demand from chemicals, pharmaceutical, appliances, chemicals industry. However, various sectors such as chemicals, construction, automotive were negatively impacted by the COVID-19 pandemic that has affected the production and demand for methanol due to disrupted supply chain.
- COVID-19 impacted almost all industries and the methanol producing companies have ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of labors due to the fear of contracting coronavirus has led to sluggish demand.
- Furthermore, social distancing norms, closed borders, and production constraints across various countries such as China, India, U.S. have affected the global methanol market.
Key Findings of the Study
- On the basis of feedstock, the natural gas sub-segment emerged as the global leader in 2021 and coal sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
- On the basis of end-use industry, the automotive sub-segment emerged as the global leader in 2021 and appliances sub-segment is predicted to show fastest growth in the upcoming years.
- On the basis of region, Asia-Pacific registered the highest methanol market share and is projected to maintain the same during the forecast period.
Companies Mentioned
- Celanese Corporation
- Basf Se
- Methanex Corporation
- Sabic
- Petroliam Nasional Berhad (Petronas)
- Mitsubishi Gas Chemical Company, Inc.
- Valero Energy Corporation
- Mitsui & Co. Ltd.
- Zagros Petrochemical Co.
- Methanol Holdings (Trinidad) Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | June 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 35320 million |
| Forecasted Market Value ( USD | $ 54630.4 million |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
