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Methanol Market

Global Methanol Market Size, Share, Growth, Forecast: By Application: Formaldehyde, Methanol to Olefins (MTO), Fuel Applications, Methyl Tert-Butyl Ether (MTBE), Acetic Acid, Methyl Methacrylate (MMA), Methylamines; Regional Analysis; Market Dynamics; Competitive Landscape; Industry Events and Developments; 2024-2032

Global Methanol Market Outlook

The global methanol market size attained a volume of approximately 88.00 MMT in 2023. The market is further expected to grow at a CAGR of 3.8% between 2024 and 2032, reaching a volume of 123.18 MMT by 2032.

 

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.

 

Methanol Market

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Increased Demand in Formaldehyde Production to Augment the Market Growth of Methanol

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.

 

Global Methanol Market Share by Region

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.

 

Methanol Market by Segments

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Global Methanol Market Segmentation

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:

  • Formaldehyde
  • Methanol to Olefins (MTO)
  • Fuel Applications
  • Methyl Tert-Butyl Ether (MTBE)
  • Acetic Acid
  • Methyl Methacrylate (MMA)
  • Methylamines
  • Others

 

The regional markets for methanol include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Diverse Application Potential of Methanol to Spearhead the Growth of the Methanol Market

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.

 

Methanol Market by Region

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Key Players in the Global Methanol Market

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:

 

  • 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
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.

 

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:

  • Application
  • Region
Breakup by Application
  • Formaldehyde
  • Methanol to Olefins (MTO)
  • Fuel Applications
  • Methyl Tert-Butyl Ether (MTBE)
  • Acetic Acid
  • Methyl Methacrylate (MMA)
  • Methylamines
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • Others
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.

 

Methanol Market Report Snapshots

Methanol Market Size

Methanol Market Growth

Methanol Market Share

Methanol Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Opportunities and Challenges in the Market
8    Global Methanol Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Methanol Historical Market (2018-2023) 
    8.3    Global Methanol Market Forecast (2024-2032)
    8.4    Global Methanol Market by Application
        8.4.1    Formaldehyde
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Methanol to Olefins (MTO)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Fuel Applications
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Methyl Tert-Butyl Ether (MTBE)
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Acetic Acid
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Methyl Methacrylate (MMA)
            8.4.6.1    Historical Trend (2018-2023)
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Methylamines
            8.4.7.1    Historical Trend (2018-2023)
            8.4.7.2    Forecast Trend (2024-2032)
        8.4.8    Others   
    8.5    Global Methanol Market by Region
        8.5.1    North America
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Europe
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Asia Pacific
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Latin America
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Middle East and Africa
            8.5.5.1    Historical Trend (2018-2023) 
            8.5.5.2    Forecast Trend (2024-2032)
9    North America  Methanol Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Methanol Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Methanol Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Methanol Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Methanol Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade  Analysis (HS Code: 290511)

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
    17.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18    Global Methanol Feedstock Market Analysis
    18.1    Global Coal Market Analysis
        18.1.1    Key Industry Highlights
        18.1.2    Global Coal Historical Market (2018-2023) 
        18.1.3    Global Coal Market Forecast (2024-2032)
        18.1.4    Global Coal Market by End Use
            18.1.4.1    Electricity
                18.1.4.1.1    Historical Trend (2018-2023)
                18.1.4.1.2    Forecast Trend (2024-2032)
            18.1.4.2    Steel
                18.1.4.2.1    Historical Trend (2018-2023)
                18.1.4.2.2    Forecast Trend (2024-2032)
            18.1.4.3    Cement
                18.1.4.3.1    Historical Trend (2018-2023)
                18.1.4.3.2    Forecast Trend (2024-2032)
            18.1.4.4    Others
        18.1.5    Global Coal Market by Region
            18.1.5.1    North America
            18.1.5.2    Europe
            18.1.5.3    Asia Pacific
            18.1.5.4    Latin America
            18.1.5.5    Middle East and Africa
        18.1.6    Trade Data Analysis (HS Code – 2701)
            18.1.6.1    Major Exporting Countries
                18.1.6.1.1    By Value
                18.1.6.1.2    By Volume
            18.1.6.2    Major Importing Countries
                18.1.6.2.1    By Value
                18.1.6.2.2    By Volume 
    18.2    Global Natural Gas Market Analysis
        18.2.1    Key Industry Highlights
        18.2.2    Global Natural Gas Historical Market (2018-2023) 
        18.2.3    Global Natural Gas Market Forecast (2024-2032)
        18.2.4    Global Natural Gas Market by End Use
            18.2.4.1    Electricity
                18.2.4.1.1    Historical Trend (2018-2023)
                18.2.4.1.2    Forecast Trend (2024-2032)
            18.2.4.2    Industrial
                18.2.4.2.1    Historical Trend (2018-2023)
                18.2.4.2.2    Forecast Trend (2024-2032)
            18.2.4.3    Transportation
                18.2.4.3.1    Historical Trend (2018-2023)
                18.2.4.3.2    Forecast Trend (2024-2032)
            18.2.4.4    Others
        18.2.5    Global Natural Gas Market by Region
            18.2.5.1    North America
            18.2.5.2    Europe
            18.2.5.3    Asia Pacific
            18.2.5.4    Latin America
            18.2.5.5    Middle East and Africa
        18.2.6    Trade Data Analysis (HS Code – 271121)
            18.2.6.1    Major Exporting Countries
                18.2.6.1.1    By Value
                18.2.6.1.2    By Volume
            18.2.6.2    Major Importing Countries
                18.2.6.2.1    By Value
                18.2.6.2.2    By Volume
19    Competitive  Landscape
    19.1    Market Structure
    19.2    Company Profiles
        19.2.1    Methanex Corporation
            19.2.1.1    Company Overview
            19.2.1.2    Product Portfolio
            19.2.1.3    Demographic Reach and Achievements
            19.2.1.4    Certifications
        19.2.2    Zagros Petrochemical Company
            19.2.2.1    Company Overview
            19.2.2.2    Product Portfolio
            19.2.2.3    Demographic Reach and Achievements
            19.2.2.4    Certifications
        19.2.3    Mitsubishi Gas Chemical Company, Inc.
            19.2.3.1    Company Overview
            19.2.3.2    Product Portfolio
            19.2.3.3    Demographic Reach and Achievements
            19.2.3.4    Certifications
        19.2.4    Celanese Corporation
            19.2.4.1    Company Overview
            19.2.4.2    Product Portfolio
            19.2.4.3    Demographic Reach and Achievements
            19.2.4.4    Certifications
        19.2.5    PROMAN
            19.2.5.1    Company Overview
            19.2.5.2    Product Portfolio
            19.2.5.3    Demographic Reach and Achievements
            19.2.5.4    Certifications
        19.2.6    SABIC
            19.2.6.1    Company Overview
            19.2.6.2    Product Portfolio
            19.2.6.3    Demographic Reach and Achievements
            19.2.6.4    Certifications
        19.2.7    OCI NV
            19.2.7.1    Company Overview
            19.2.7.2    Product Portfolio
            19.2.7.3    Demographic Reach and Achievements
            19.2.7.4    Certifications
        19.2.8    LyondellBasell Industries N.V.
            19.2.8.1    Company Overview
            19.2.8.2    Product Portfolio
            19.2.8.3    Demographic Reach and Achievements
            19.2.8.4    Certifications
        19.2.9    Yankuang Group Co., Ltd
            19.2.9.1    Company Overview
            19.2.9.2    Product Portfolio
            19.2.9.3    Demographic Reach and Achievements
            19.2.9.4    Certifications
        19.2.10    BASF SE
            19.2.10.1    Company Overview
            19.2.10.2    Product Portfolio
            19.2.10.3    Demographic Reach and Achievements
            19.2.10.4    Certifications
        19.2.11    Eastman Chemical Company
            19.2.11.1    Company Overview
            19.2.11.2    Product Portfolio
            19.2.11.3    Demographic Reach and Achievements
            19.2.11.4    Certifications
        19.2.12    China National Petroleum Corporation (CNPC)
            19.2.12.1    Company Overview
            19.2.12.2    Product Portfolio
            19.2.12.3    Demographic Reach and Achievements
            19.2.12.4    Certifications
        19.2.13    PETRONAS Chemicals Group Berhad
            19.2.13.1    Company Overview
            19.2.13.2    Product Portfolio
            19.2.13.3    Demographic Reach and Achievements
            19.2.13.4    Certifications
        19.2.14    Gujarat Narmada Valley Fertilizers & Chemicals Limited
            19.2.14.1    Company Overview
            19.2.14.2    Product Portfolio
            19.2.14.3    Demographic Reach and Achievements
            19.2.14.4    Certifications
        19.2.15    Others
20    Key Trends and Developments in the Market


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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 2032
2.    Global Methanol Historical Market: Breakup by End Use (Million Tons), 2018-2023
3.    Global Methanol Market Forecast: Breakup by End Use (Million Tons), 2024-2032
4.    Global Methanol Historical Market: Breakup by Region (Million Tons), 2018-2023
5.    Global Methanol Market Forecast: Breakup by Region (Million Tons), 2024-2032
6.    North America Methanol Historical Market: Breakup by Country (Million Tons), 2018-2023
7.    North America Methanol Market Forecast: Breakup by Country (Million Tons), 2024-2032
8.    Europe Methanol Historical Market: Breakup by Country (Million Tons), 2018-2023
9.    Europe Methanol Market Forecast: Breakup by Country (Million Tons), 2024-2032
10.    Asia Pacific Methanol Historical Market: Breakup by Country (Million Tons), 2018-2023
11.    Asia Pacific Methanol Market Forecast: Breakup by Country (Million Tons), 2024-2032
12.    Latin America Methanol Historical Market: Breakup by Country (Million Tons), 2018-2023
13.    Latin America Methanol Market Forecast: Breakup by Country (Million Tons), 2024-2032
14.    Middle East and Africa Methanol Historical Market: Breakup by Country (Million Tons), 2018-2023
15.    Middle East and Africa Methanol Market Forecast: Breakup by Country (Million Tons), 2024-2032
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 2032
26.    Global Coal Historical Market: Breakup by End Use (Million Tons), 2018-2023
27.    Global Coal Market Forecast: Breakup by End Use (Million Tons), 2024-2032
28.    Global Coal Historical Market: Breakup by Region (Million Tons), 2018-2023
29.    Global Coal Market Forecast: Breakup by Region (Million Tons), 2024-2032
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 2032
35.    Global Natural Gas Historical Market: Breakup by End Use (Million Tons), 2018-2023
36.    Global Natural Gas Market Forecast: Breakup by End Use (Million Tons), 2024-2032
37.    Global Natural Gas Historical Market: Breakup by Region (Million Tons), 2018-2023
38.    Global Natural Gas Market Forecast: Breakup by Region (Million Tons), 2024-2032
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

Key Questions Answered in the Report

In 2023, the market attained a volume of approximately 88.00 MMT.

The market is projected to grow at a CAGR of 3.8% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a volume of 123.18 MMT by 2032.

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.

Analyst Review

The global methanol market attained a volume of approximately 88.00 MMT in 2023, 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 2024-2032, growing at a CAGR of 3.8%. The market is projected to reach a volume of 123.18 MMT by 2032.

 

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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