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Europe Methanol Market Size, Share, Trends, Growth, Report: By Feedstock: Natural Gas, Coal Gasification, Renewable Sources; By Application: Formaldehyde, Methanol to Olefins (MTO), Methyl Tert-Butyl Ether (MTBE) and Dimethyl Ether (DME), Gasoline Blending, Acetic Acid, Others; Regional Analysis; Competitive Landscape; 2024-2032
Europe Methanol Market Outlook
The Europe methanol market size was approximately 11.16 million tons in 2023. The market is estimated to grow at a CAGR of 3.5% between 2024 and 2032, to reach a volume of around 15.26 million tons by 2032.
Key Takeaways
- Methanol is gaining traction in diesel engines such as taxis and heavy-duty trucks across Europe.
- Methanol is increasingly being adopted for ship fuel as it stays liquid at ambient temperatures and hence doesn’t require storage in pressurised fuel tanks.
- The market is anticipated to be fuelled by rising methanol consumption for the creation of dimethyl ether and methyl tert-butyl ether (MTBE), which are used as gasoline substitutes.
Methanol is a clear liquid chemical that is adopted in various items such as plastics, paints, cosmetics, and fuels. Methanol also serves as an energy source in the marine, automotive, and electricity sectors, and is emerging as a renewable energy resource.
With greater emphasis on sustainable development, versatility in the production of methanol has increased. It has observed surging incorporation of renewable feedstocks including agricultural waste, Municipal Solid Waste (MSW), sewage, renewable power, and captured CO2.
Key Trends and Developments
Increasing use of gasoline in transportation; rising demand for cleaner marine fuel; applications in the pharmaceutical sector; and the growing chemical manufacturing sector are the key trends impacting the Europe methanol market growth
Dec 6, 2022
Waterfront Shipping, a Methanex subsidiary, entered into a time-charter agreement with Trafigura, a physical commodity trading group. As part of the agreement, Trafigura will operate Mari Innovator, the co-owned Waterfront Shipping and Clean Sea medium-range product tanker, forming part of its global vessels’ network for clean products trading routes.
Nov 4, 2022
Germany prepared to launch its first methanol-powered ship, which aims at serving as both a research vessel and a learning platform for students at the Alfred Wegener Institute (AWI) for Polar and Marine Research.
Oct 4, 2022
St1 announced that it was planning the first synthetic methanol plant in Finland next to the Finnsementti factory at the Ihalainen industrial site in Lappeenranta. The plant would produce nearly 25,000 tonnes of synthetic methanol per year and improve energy self-sufficiency in Finland.
Aug 10, 2022
MAN Energy Solutions signed a Memorandum of Understanding (MoU) with Proman and Stena Teknik, Stena’s in-house research and development division, to mutually cooperate and retrofit MAN 48/60 engines, making them capable of dual-fuel, diesel, and methanol operation.
Use of methanol in combination with gasoline in vehicles
Methanol’s high-octane rating and knocking resistance allow the engine to run at high compression ratios. It can be mixed with gasoline in various ratios, from 3% to pure methanol. Concentrations up to 15% can be utilised in regular gasoline cars, while higher concentrations can be used in flex-fuel vehicles.
Demand for cleaner marine fuel
The growing demand for cleaner marine fuel is creating an opportunity for methanol to be used as a safe, cost-effective alternative fuel for ships to help the shipping sector meet increasingly strict emissions regulations.
Growing applications in the pharmaceutical sector
Methanol is being increasingly used as a solvent to produce cholesterol, streptomycin, vitamins, hormones, and other products in the pharmaceutical sector.
Rising use in chemical manufacturing
Methanol is a key raw material to produce chemicals such as formaldehyde, acetic acid, and plastics. It is being used to produce aromatic compounds and chemicals currently produced from petroleum.
Europe Methanol Market Trends
Formaldehyde, methyl tert-butyl ether, dimethyl ether, and acetic acid, which are used to make foams, plywood subfloors, solvents, adhesives, and windshield washer fluid, are all produced using methanol as a feedstock.
The market is anticipated to be fuelled by rising methanol consumption for the creation of dimethyl ether and methyl tert-butyl ether (MTBE), which are used as gasoline substitutes. DME is combined with liquefied natural gas (LNG) and used as a propellant in aerosols as well as a fuel (diesel) in passenger vehicles.
Market Segmentation
“Europe Methanol Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Feedstock
- Natural Gas
- Coal Gasification
- Renewable Sources
Market Breakup by Application
- Formaldehyde
- Methanol to Olefins (MTO)
- Methyl Tert-Butyl Ether (MTBE) and Dimethyl Ether (DME)
- Gasoline Blending
- Acetic Acid
- Methyl Methacrylate (MMA)
- Methylamines
- Others
Market Breakup by Country
- United Kingdom
- Nordics
- Germany
- France
- Others
Based on feedstock, natural gas dominates the Europe methanol market share
Natural gas reformation accounted for 98.80% of methanol production. Methanol is typically derived from natural gas or coal and can also be produced from biomass as a renewable product (green methanol).
In November 2022, the Federal Ministry for Digital and Transport in Germany announced a funding of EUR 3.1 million for Methanol-to-SAF (M2SAF) development project. Started in August 2022, the duration of the project is 2.5 years. As the first step, the project focuses on sustainable production of methanol via CO2 and green hydrogen.
Based on application, the acetic acid production significantly contributes to the Europe methanol market revenue
Most of the acetic acid is produced through methanol carbonylation, which occurs when methanol and carbon monoxide react to generate acetic acid. Carbonylation of methanol is responsible for significant acetic acid production for use in the chemical sector.
Further, formaldehyde is one of the most important chemical products obtained from methanol, and it is primarily utilised in making phenol-, urea-, and melamine-formaldehyde resins, as well as butanediol and methylene bis. The formaldehyde resins are then primarily used as adhesives for various applications in the wood industry, such as the production of particle boards, plywood, and other wood panels.
In diesel and gasoline blend options, the European Union allows M3 (EN228) blended a.o. in the United Kingdom and the Netherlands.
Competitive Landscape
Manufacturers are enhancing their production methods, focusing on production efficiency and sustainability, by incorporating the latest capabilities to meet the growing demands.
Methanex Corporation
Methanex Corporation, headquartered in Canada, is a global manufacturer and distributor of methanol to the international markets.
Proman AG
Founded in 1984, Proman GmbH is engaged in providing project management and engineering, procurement, and construction services.
SABIC
SABIC is a globally renowned chemicals company, headquartered in Riyadh. The company is owned by Saudi Aramco which owns 70 per cent of SABIC shares with the remaining 30 per cent traded publicly on the Saudi stock exchange.
OCI N.V.
OCI is a global producer and distributor of nitrogen and methanol products, based in the Netherlands. The company is engaged in providing sustainable solutions to agricultural and industrial sectors around the world.
Other notable players operating in the Europe methanol market are Mitsubishi Gas Chemical Europe, Mitsui & Co., Ltd., and LyondellBasell Industries Holdings B.V., among others.
Europe Methanol Market Analysis by Country
With the aim of using green methanol as a fuel for the maritime industry, in March 2021, German energy major Uniper collaborated with shipping service provider Liberty Pier Maritime Projects and engineering firm Ship Design and Consult (SDC) to form the Green Methanol Cooperation (GMC).
The utilisation of methanol as a marine fuel is one of the most dynamic and important areas of the energy revolution in the United Kingdom. Methanol is becoming increasingly popular as a credible alternative pathway for owners and operators.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Feedstock |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Europe Methanol Market Analysis
8.1 Key Industry Highlights
8.2 Europe Methanol Historical Market (2018-2023)
8.3 Europe Methanol Market Forecast (2024-2032)
8.4 Europe Methanol Market by Feedstock
8.4.1 Natural Gas
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Coal Gasification
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Renewable Sources
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Europe Methanol Market by Application
8.5.1 Formaldehyde
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Methanol to Olefins (MTO)
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Methyl Tert-Butyl Ether (MTBE) and Dimethyl Ether (DME)
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Gasoline Blending
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Acetic Acid
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Methyl Methacrylate (MMA)
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Methylamines
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2023)
8.5.7.3 Forecast Trend (2024-2032)
8.5.8 Others
8.6 Europe Methanol Market Share by Country
8.6.1 United Kingdom
8.6.2 Nordics
8.6.3 Germany
8.6.4 France
8.6.5 Others
9 United Kingdom Methanol Market Analysis
9.1 Key Industry Highlights
9.2 United Kingdom Methanol Historical Market (2018-2023)
9.3 United Kingdom Methanol Market Forecast (2024-2032)
9.4 United Kingdom Methanol Market by Feedstock
9.4.1 Natural Gas
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2023)
9.4.1.3 Forecast Trend (2024-2032)
9.4.2 Coal Gasification
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2023)
9.4.2.3 Forecast Trend (2024-2032)
9.4.3 Renewable Sources
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2023)
9.4.3.3 Forecast Trend (2024-2032)
9.5 United Kingdom Methanol Market by Application
9.5.1 Formaldehyde
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2023)
9.5.1.3 Forecast Trend (2024-2032)
9.5.2 Methanol to Olefins (MTO)
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2023)
9.5.2.3 Forecast Trend (2024-2032)
9.5.3 Methyl Tert-Butyl Ether (MTBE) and Dimethyl Ether (DME)
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2023)
9.5.3.3 Forecast Trend (2024-2032)
9.5.4 Gasoline Blending
9.5.4.1 Market Share
9.5.4.2 Historical Trend (2018-2023)
9.5.4.3 Forecast Trend (2024-2032)
9.5.5 Acetic Acid
9.5.5.1 Market Share
9.5.5.2 Historical Trend (2018-2023)
9.5.5.3 Forecast Trend (2024-2032)
9.5.6 Methyl Methacrylate (MMA)
9.5.6.1 Market Share
9.5.6.2 Historical Trend (2018-2023)
9.5.6.3 Forecast Trend (2024-2032)
9.5.7 Methylamines
9.5.7.1 Market Share
9.5.7.2 Historical Trend (2018-2023)
9.5.7.3 Forecast Trend (2024-2032)
9.5.8 Others
10 Nordics Methanol Market Analysis
10.1 Key Industry Highlights
10.2 Nordics Methanol Historical Market (2018-2023)
10.3 Nordics Methanol Market Forecast (2024-2032)
10.4 Nordics Methanol Market by Feedstock
10.4.1 Natural Gas
10.4.1.1 Market Share
10.4.1.2 Historical Trend (2018-2023)
10.4.1.3 Forecast Trend (2024-2032)
10.4.2 Coal Gasification
10.4.2.1 Market Share
10.4.2.2 Historical Trend (2018-2023)
10.4.2.3 Forecast Trend (2024-2032)
10.4.3 Renewable Sources
10.4.3.1 Market Share
10.4.3.2 Historical Trend (2018-2023)
10.4.3.3 Forecast Trend (2024-2032)
10.5 Nordics Methanol Market by Application
10.5.1 Formaldehyde
10.5.1.1 Market Share
10.5.1.2 Historical Trend (2018-2023)
10.5.1.3 Forecast Trend (2024-2032)
10.5.2 Methanol to Olefins (MTO)
10.5.2.1 Market Share
10.5.2.2 Historical Trend (2018-2023)
10.5.2.3 Forecast Trend (2024-2032)
10.5.3 Methyl Tert-Butyl Ether (MTBE)
10.5.3.1 Market Share
10.5.3.2 Historical Trend (2018-2023)
10.5.3.3 Forecast Trend (2024-2032)
10.5.4 Dimethyl Ether (DME)
10.5.4.1 Market Share
10.5.4.2 Historical Trend (2018-2023)
10.5.4.3 Forecast Trend (2024-2032)
10.5.5 Gasoline Blending
10.5.5.1 Market Share
10.5.5.2 Historical Trend (2018-2023)
10.5.5.3 Forecast Trend (2024-2032)
10.5.6 Acetic Acid
10.5.6.1 Market Share
10.5.6.2 Historical Trend (2018-2023)
10.5.6.3 Forecast Trend (2024-2032)
10.5.7 Methyl Methacrylate (MMA)
10.5.7.1 Market Share
10.5.7.2 Historical Trend (2018-2023)
10.5.7.3 Forecast Trend (2024-2032)
10.5.8 Methylamines
10.5.8.1 Market Share
10.5.8.2 Historical Trend (2018-2023)
10.5.8.3 Forecast Trend (2024-2032)
10.5.9 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Trade Data Analysis (HS Code: 290511)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Methanex Corporation
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Proman GmbH
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 SABIC
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 OCI N.V.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Mitsubishi Gas Chemical Europe
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Mitsui & Co., Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 LyondellBasell Industries Holdings B.V.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Others
15 Key Trends and Developments in the Market
List of Figures and Tables
1. Europe Methanol Market: Key Industry Highlights, 2018 and 2032
2. Europe Methanol Historical Market: Breakup by Feedstock (USD Million), 2018-2023
3. Europe Methanol Market Forecast: Breakup by Feedstock (USD Million), 2024-2032
4. Europe Methanol Historical Market: Breakup by Application (USD Million), 2018-2023
5. Europe Methanol Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Europe Methanol Historical Market: Breakup by Country (USD Million), 2018-2023
7. Europe Methanol Market Forecast: Breakup by Country (USD Million), 2024-2032
8. United Kingdom Methanol Market: Key Industry Highlights, 2018 and 2032
9. United Kingdom Methanol Historical Market: Breakup by Feedstock (USD Million), 2018-2023
10. United Kingdom Methanol Market Forecast: Breakup by Feedstock (USD Million), 2024-2032
11. United Kingdom Methanol Historical Market: Breakup by Application (USD Million), 2018-2023
12. Nordics Methanol Market Forecast: Breakup by Application (USD Million), 2024-2032
13. Nordics Methanol Market: Key Industry Highlights, 2018 and 2032
14. Nordics Methanol Historical Market: Breakup by Feedstock (USD Million), 2018-2023
15. Nordics Methanol Market Forecast: Breakup by Feedstock (USD Million), 2024-2032
16. Nordics Methanol Historical Market: Breakup by Application (USD Million), 2018-2023
17. Nordics Methanol Market Forecast: Breakup by Application (USD Million), 2024-2032
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Europe Methanol Market Structure
Key Questions Answered in the Report
The market reached a volume of 11.16 million tons in 2023.
The market is expected to grow at a CAGR of 3.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of around 15.26 million tons by 2032.
The feedstocks include natural gas, coal gasification, and renewable sources.
The key countries analysed in the market report are the United Kingdom, Nordics, Germany, France, and others.
The factors driving the market are increasing adoption of methanol as marine fuel, growing need for petrochemicals, and the expansion of chemical manufacturing sector.
The applications include formaldehyde, methanol to olefins (MTO), methyl tert-butyl ether (MTBE) and dimethyl ether (DME), gasoline blending, acetic acid, methyl methacrylate (MMA), methylamines, and others.
The key players in the market include Methanex Corporation, Proman AG, SABIC, OCI N.V., Mitsubishi Gas Chemical Europe, Mitsui & Co., Ltd., and LyondellBasell Industries Holdings B.V., among others.
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