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The global methanol market size attained a volume of approximately 84.7 MMT in 2022. The market is further expected to grow at a CAGR of 3.9% between 2023 and 2028, reaching a volume of 105.7 MMT by 2028.
Methanol is a highly organic chemical which is used to manufacture numerous downstream products that are witnessing a heightened demand from various industry verticals. Increasing demand for methyl methacrylate (MMA) to produce crucial industrial components such as impact modifiers and illuminated display lights, is generating a greater demand, influencing the methanol market growth. In addition, the thriving advertising sector and advancements in the electrical and electronics industry are expected to bolster the methanol demand. Meanwhile, methanol is also witnessing rising penetration in the pharmaceutical sector, owing to the heightening demand for methanol to produce anti-cancer, anti-viral, and anti-bacterial pharma components.
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Based on application, the formaldehyde segment is anticipated to account for a significant share of the methanol market. Methanol is used in the production of formaldehyde, which finds increased usage across several industry vertical, including production of consumer products like furniture, carpeting, paper towel, and cosmetics. In addition, the demand for formaldehyde in the automotive sector for manufacturing fuel system components and brake pads, among others and in the construction sector for producing plywood and particle board is expected to expand the methanol market in the forecast period.
The Asia Pacific region is anticipated to provide lucrative opportunities for the market expansion of methanol in the forecast period. The increasing use of methanol derivatives such as acetic acid, formaldehyde, and MMA, among others, across industries is contributing to the expansion of the market for methanol. The growing demand for methanol in fuel applications in the transportation sector is anticipated to be a key trend invigorating the methanol market growth in the Asia Pacific region in the forecast period.
China currently represents a significant market for methanol, owing to its increased demand in methanol gasoline blending and dimethyl ether (DME), its use as a clean transportation fuel, and the country’s ability to produce abundant quantities domestically. In China, methanol is priced at a lower value compared to wholesale gasoline, and the country is focusing on the mass production of methanol capable vehicles, including fleets of taxis and buses.
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Methanol (CH3OH) is a light, volatile, flammable, and poisonous liquid alcohol, which is biodegradable in nature. It is also known as “wood alcohol”, and is a colourless, water soluble liquid with a mild alcoholic odour. Liquid methanol provides an excellent way to conveniently and safely store and transport energy. It is a liquid chemical which is commonly used in the production of everyday products including solvents, plastic, fuel, and cosmetics, among others. The biodegradability and clean combustion, along with a low boiling temperature of methanol also contribute to its increased utilisation across sectors.
By application, the market is segregated into:
The regional markets for methanol include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The market for methanol is being driven by its increasing applications across various end use industries. Methanol derivatives like formaldehyde, acetic acid, and MMA are used in the production of a variety of compounds and substances. For instance, fundamental chemical products like olefins can be produced via a methanol-to-olefin (MTO) process, along with various organic compounds like dimethyl ether (DME), a potential substitute for diesel oil, which is used for better combustion performance. In addition, the increasing usage of acetic acid in the production of paints and adhesives, which are commonly utilised in the construction sector, is adding to the methanol market growth.
Further, the growing use of methanol in manufacturing formaldehyde also supports the market growth, as formaldehyde is used in the healthcare sector to produce vaccines. The market is also supported by the rising demand in other application sectors including the energy sector, wherein methanol is used in the manufacturing of methyl tertiary butyl ether (MTBE), and methyl methacrylate (MMA), among others.
The increasing use of methanol as a fuel in the automotive and aviation sectors is expected to drive its demand in the coming years. This can be attributed to the benefits of reduced fuel costs, efficient combustion, and low flammability associated with the use of methanol as a fuel alternative. The market for methanol is likely to also benefit from the increased development of methanol-based transportation systems to promote the adoption of bio-methanol products obtained from timber, agricultural waste, and other renewable resources.
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The report gives a detailed analysis of the following key players in the global methanol market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
REPORT FEATURES | DETAILS |
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Base Year | 2022 |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Methanol Market Analysis
8.1 Key Industry Highlights
8.2 Global Methanol Historical Market (2018-2022)
8.3 Global Methanol Market Forecast (2023-2028)
8.4 Global Methanol Market by Application
8.4.1 Formaldehyde
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Methanol to Olefins (MTO)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Fuel Applications
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Methyl Tert-Butyl Ether (MTBE)
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Acetic Acid
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Methyl Methacrylate (MMA)
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Methylamines
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2022)
8.4.7.3 Forecast Trend (2023-2028)
8.4.8 Others
8.5 Global Methanol Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
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
13.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
13.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14 Global Methanol Feedstock Market Analysis
14.1 Global Coal Market Analysis
14.1.1 Key Industry Highlights
14.1.2 Global Coal Historical Market (2018-2022)
14.1.3 Global Coal Market Forecast (2023-2028)
14.1.4 Global Coal Market by End Use
14.1.4.1 Electricity
14.1.4.1.1 Market Share
14.1.4.1.2 Historical Trend (2018-2022)
14.1.4.1.3 Forecast Trend (2023-2028)
14.1.4.2 Steel
14.1.4.2.1 Market Share
14.1.4.2.2 Historical Trend (2018-2022)
14.1.4.2.3 Forecast Trend (2023-2028)
14.1.4.3 Cement
14.1.4.3.1 Market Share
14.1.4.3.2 Historical Trend (2018-2022)
14.1.4.3.3 Forecast Trend (2023-2028)
14.1.4.4 Others
14.1.5 Global Coal Market by Region
14.1.5.1 Market Share
14.1.5.1.1 North America
14.1.5.1.2 Europe
14.1.5.1.3 Asia Pacific
14.1.5.1.4 Latin America
14.1.5.1.5 Middle East and Africa
14.1.6 Trade Data Analysis (HS Code – 2701)
14.1.6.1 Major Exporting Countries
14.1.6.1.1 By Value
14.1.6.1.2 By Volume
14.1.6.2 Major Importing Countries
14.1.6.2.1 By Value
14.1.6.2.2 By Volume
14.2 Global Natural Gas Market Analysis
14.2.1 Key Industry Highlights
14.2.2 Global Natural Gas Historical Market (2018-2022)
14.2.3 Global Natural Gas Market Forecast (2023-2028)
14.2.4 Global Natural Gas Market by End Use
14.2.4.1 Electricity
14.2.4.1.1 Market Share
14.2.4.1.2 Historical Trend (2018-2022)
14.2.4.1.3 Forecast Trend (2023-2028)
14.2.4.2 Industrial
14.2.4.2.1 Market Share
14.2.4.2.2 Historical Trend (2018-2022)
14.2.4.2.3 Forecast Trend (2023-2028)
14.2.4.3 Transportation
14.2.4.3.1 Market Share
14.2.4.3.2 Historical Trend (2018-2022)
14.2.4.3.3 Forecast Trend (2023-2028)
14.2.4.4 Others
14.2.5 Global Natural Gas Market by Region
14.2.5.1 Market Share
14.2.5.1.1 North America
14.2.5.1.2 Europe
14.2.5.1.3 Asia Pacific
14.2.5.1.4 Latin America
14.2.5.1.5 Middle East and Africa
14.2.6 Trade Data Analysis (HS Code – 271121)
14.2.6.1 Major Exporting Countries
14.2.6.1.1 By Value
14.2.6.1.2 By Volume
14.2.6.2 Major Importing Countries
14.2.6.2.1 By Value
14.2.6.2.2 By Volume
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Methanex Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Zagros Petrochemical Company
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Mitsubishi Gas Chemical Company, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Celanese Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 PROMAN
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 SABIC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 OCI NV
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 LyondellBasell Industries N.V.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Yankuang Group Co., Ltd
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 BASF SE
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Eastman Chemical Company
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 China National Petroleum Corporation (CNPC)
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 PETRONAS Chemicals Group Berhad
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Gujarat Narmada Valley Fertilizers & Chemicals Limited
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 Others
16 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Methanol Market: Key Industry Highlights, 2018 and 2028
2. Global Methanol Historical Market: Breakup by End Use (Million Tons), 2018-2022
3. Global Methanol Market Forecast: Breakup by End Use (Million Tons), 2023-2028
4. Global Methanol Historical Market: Breakup by Region (Million Tons), 2018-2022
5. Global Methanol Market Forecast: Breakup by Region (Million Tons), 2023-2028
6. North America Methanol Historical Market: Breakup by Country (Million Tons), 2018-2022
7. North America Methanol Market Forecast: Breakup by Country (Million Tons), 2023-2028
8. Europe Methanol Historical Market: Breakup by Country (Million Tons), 2018-2022
9. Europe Methanol Market Forecast: Breakup by Country (Million Tons), 2023-2028
10. Asia Pacific Methanol Historical Market: Breakup by Country (Million Tons), 2018-2022
11. Asia Pacific Methanol Market Forecast: Breakup by Country (Million Tons), 2023-2028
12. Latin America Methanol Historical Market: Breakup by Country (Million Tons), 2018-2022
13. Latin America Methanol Market Forecast: Breakup by Country (Million Tons), 2023-2028
14. Middle East and Africa Methanol Historical Market: Breakup by Country (Million Tons), 2018-2022
15. Middle East and Africa Methanol Market Forecast: Breakup by Country (Million Tons), 2023-2028
16. Major Methanol Exporting Countries by Value
17. Major Methanol Importing Countries by Value
18. Major Methanol Exporting Countries by Volume
19. Major Methanol Importing Countries by Volume
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Coal Market: Key Industry Highlights, 2018 and 2028
26. Global Coal Historical Market: Breakup by End Use (Million Tons), 2018-2022
27. Global Coal Market Forecast: Breakup by End Use (Million Tons), 2023-2028
28. Global Coal Historical Market: Breakup by Region (Million Tons), 2018-2022
29. Global Coal Market Forecast: Breakup by Region (Million Tons), 2023-2028
30. Major Coal Exporting Countries by Value
31. Major Coal Importing Countries by Value
32. Major Coal Exporting Countries by Volume
33. Major Coal Importing Countries by Volume
34. Global Natural Gas Market: Key Industry Highlights, 2018 and 2028
35. Global Natural Gas Historical Market: Breakup by End Use (Million Tons), 2018-2022
36. Global Natural Gas Market Forecast: Breakup by End Use (Million Tons), 2023-2028
37. Global Natural Gas Historical Market: Breakup by Region (Million Tons), 2018-2022
38. Global Natural Gas Market Forecast: Breakup by Region (Million Tons), 2023-2028
39. Major Natural Gas Exporting Countries by Value
40. Major Natural Gas Importing Countries by Value
41. Major Natural Gas Exporting Countries by Volume
42. Major Natural Gas Importing Countries by Volume
43. Global Methanol Market Structure
In 2022, the market attained a volume of approximately 84.7 MMT.
The market is projected to grow at a CAGR of 3.9% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028, reaching a volume of 105.7 MMT by 2028.
The major drivers of the market are increasing production of formaldehyde from methanol, and extensive use in the automotive industry.
The key trends in the market are rising demand for methyl tert-butyl ether (MTBE), use of methanol in the construction sector, and expansion of production capacities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various applications of methanol in the market are formaldehyde, methanol to olefins (MTO), fuel applications, methyl tert-butyl ether (MTBE), acetic acid, methyl methacrylate (MMA), and methylamines, among others.
The major players in the market are Methanex Corporation, Zagros Petrochemical Company, Mitsubishi Gas Chemical Company, Inc., Celanese Corporation, PROMAN, SABIC, OCI NV, LyondellBasell Industries N.V., Yankuang Group Co., Ltd, BASF SE, Eastman Chemical Company, China National Petroleum Corporation (CNPC), PETRONAS Chemicals Group Berhad, and Gujarat Narmada Valley Fertilizers & Chemicals Limited, among others.
The global methanol market attained a volume of approximately 84.7 MMT in 2022, driven by the extensive use in the automotive industry as a transportation fuel and antifreeze agent for automobile radiators. Aided by the usage of methanol manufacturing of Dimethyl ether (DME) and Methyl tert-butyl ether (MTBE), which are safer alternatives to traditional gasoline, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 3.9%. The market is projected to reach a volume of 105.7 MMT by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on application, the market is segmented into formaldehyde, methanol to olefins (MTO), fuel applications, methyl tert-butyl ether (MTBE), acetic acid, methyl methacrylate (MMA), and methylamines, among others, with formaldehyde accounting for the largest market share. The major regional markets for methanol are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for the largest share of the market. The key players in the above market include Methanex Corporation, Zagros Petrochemical Company, Mitsubishi Gas Chemical Company, Inc., Celanese Corporation, PROMAN, SABIC, OCI NV, LyondellBasell Industries N.V., Yankuang Group Co., Ltd, BASF SE, Eastman Chemical Company, China National Petroleum Corporation (CNPC), PETRONAS Chemicals Group Berhad, and Gujarat Narmada Valley Fertilizers & Chemicals Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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