Top 5 Methanol Manufacturers: Global Growth and Industry

As per the analysis by Expert Market Research, The global methanol market attained a value of 91.34 MMT in 2024. The market is expected to grow at a CAGR of 3.80% in the forecast period of 2025-2034 to reach a value of 132.63 MMT by 2034.

Methanol (CH3OH) is also known as ‘wood alcohol’. It is a volatile, flammable, light, and poisonous liquid alcohol, which is biodegradable in nature. It is a water-soluble liquid with a mild alcoholic odour and is colourless. Also, liquid methanol offers an exceptional approach to conveniently and safely storing and transporting energy. It is a liquid chemical generally used in the making of everyday products containing plastic, solvents, fuel, and cosmetics, among others. The biodegradability and clean combustion, coupled with a low boiling temperature, also contribute to increased product utilisation across industries.

The growing applications of methanol in various end-use industries are aiding the methanol market growth. Methanol converted into acetic acid, formaldehyde, and MMA are used in the production of a range of substances and compounds. For example, fundamental chemical products such as olefins are likely to be manufactured via a methanol-to-olefin process, along with numerous organic compounds such as dimethyl ether, a potential replacement for diesel oil which is employed for its improved combustion act.

Acetic acid is employed in the production of paints and adhesives, which are usually employed in the construction industry. The rising usage of methanol in producing formaldehyde has also propelled the market growth, as formaldehyde is used in the healthcare industry to produce vaccines. The increased development of a methanol-based transportation system to encourage the adoption of bio-methanol products obtained from agricultural waste, timber and other renewable resources is likely to benefit the global methanol market.

The market is also fuelled by the increasing demand from other application industries utilising the energy industries, wherein it goes into the fabrication of methyl tertiary butyl ether, and methyl methacrylate, among others. Furthermore, the increasing use of methanol as fuel in the automotive and aviation sectors is expected to aid its demand in the upcoming years. This can be attributed to reduced fuel costs, efficient combustion, and low flammability associated with the use of methanol as a fuel alternative.

Global Methanol News: Green Tech & Company Partnerships

March 2025: At the Indian port, Danish shipowner Maersk debuted its newest dual-fuel methanol container ship. The ship Albert Maersk, which can accommodate 16,592 twenty-foot equivalent units (TEU), was delivered in January. This ship was constructed in Ulsan, South Korea, and its main and auxiliary engines can run on both methanol and traditional marine fuels. The ship can go up to 41,400 kilometers, or 23,000 nautical miles, on methanol when completely bunkered.

February 2025: A Memorandum of Understanding (MOU) was signed by Mitsubishi Gas Chemical Company, Inc. (MGC), Methanol Reformer S.L., and Element 1® Corp. to work together on the development and marketing of hydrogen solutions using cutting-edge methanol reforming technology.

November 2024: Ohmium International declared that it will establish India's "first" green methanol plan in collaboration with Spirare Energy, Breathe Applied Sciences, and Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR). Ohmium's PEM electrolyser technology will power this plant, enabling it to generate hydrogen.

November 2024: At its Vindhyachal facility, NTPC, the biggest power generator in India, officially opened the first CO₂-to-methanol conversion plant in history. Along with making significant strides in hydrogen, carbon capture, and other cutting-edge technologies, the company has also created and tested the "first indigenous catalyst" for methanol synthesis.

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Top 5 Methanol Manufacturers: Global Market & Business Growth

1. Methanex Corporation

Methanex Corporation is a global leading supplier and producer of methanol to main international markets all over the Asia Pacific, North America, Europe, and Latin America. Its global operations are supported by huge worldwide storage facilities along with a supply chain of terminals, and the world’s largest dedicated convoy of methanol ocean tankers. The company deeply cares about the people as well as the environment and aims to create a positive impact on every individual’s life.

2. Zagros Petrochemical Company

Zagros Petrochemical Company is a leader in production, sales, and value creation and is committed to sustainable development. The complex is constructed in a way to utilise the extreme energy produced in the synthesis reactors and at the same time use the reused energy in the restoring unit to supply the required power. To aid the corporation in competing in international markets, 30 hectares of territory were assigned for ZPC, and the fabrication complex was founded in Assaluyeh.

3. Mitsubishi Gas Chemical Company, Inc.

Mitsubishi Gas Chemical Company, Inc. is one of the leading Japanese chemical manufacturers. It manufactures various products that are useful to society. The company manufactures chemical products like xylene and methanol. The company also produces engineering plastics along with specialty chemicals. Mitsubishi also practices proprietary technologies to create new materials and valuable products needed by society.

4. Celanese Corporation

Celanese is a worldwide leading chemical company in the fabrication of discriminated chemistry solutions along with speciality materials employed in primary consumer applications and industries. The company utilises the complete range of Celanese's global technology, chemistry, and commercial expertise to generate worth for the consumers, shareholders, employees, and the corporation. As the company associates with the consumers to resolve their most crucial business demands, it also thrives to create a positive influence over their communities and the humanity through The Celanese Foundation.

5. Proman

Proman is a worldwide leading company that deals in methanol, and natural gas-derived products and services. It began as a project management company which focused on the construction of huge industrial projects. The company is currently expanding into Mexico, and is a multi-regional, multi-asset, expanded energy manufacturer with fertiliser and methanol production facilities in Tobago and Trinidad, Oman, and the United States.