The global methanol market is set to grow astonishingly backed by the rising shift of the transportation industry towards methanol-powered vehicles. The main reason for this is that methyl alcohol reduces the emissions of carbon dioxide in the atmosphere. This information is given by Fortune Business Insights™ in a new report, titled, “Methanol Market Size, Share & Industry Analysis, By Feedstock (Natural Gas, Coal, Biomass & Renewables), By Derivative (Formaldehyde, Acetic Acid, MTBE, DME, Gasoline Blending, Biodiesel, MTO/MTP, Solvent, and Others), By Application (Construction, Automotive, Electronics, and Others) and Regional Forecast, 2020-2027.” The report further states that the methanol market size was USD 28.50 billion in 2019 and is projected to reach USD 40.48 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period.
COVID -19 Impact
The emergence of the COVID-19 pandemic is causing huge losses for numerous industries. Some of them have resumed operations by reducing their workforce and maintaining social distancing. Our reports are specially created to provide elaborate information about the present scenario of every market. You can select the best strategy to intensify competition and gain business confidence.
Browse Summary Of This Research:
This Report Answers the Following Questions:
- What are the current trends and dynamics of the market?
- Which region is expected to dominate the market?
- What are the market drivers and hindrances?
- How will the companies cope with the COVID-19 pandemic?
Drivers & Restraints-
High Demand from Automotive & Construction Industries to Aid Growth
Heavy fuels, namely, diesel and gasoline are considered to be the major causes of environmental pollution. They often result in global warming and rapid changes in climate. Hence, the fuel industry is inclining towards methanol-infusedfuels to lower the severe climatic conditions. Methyl alcohol is also used extensively as a transportation fuel owing to its possession of multiple properties. When mixed with gasoline, it reduces the toxic emissions. Apart from that, its high demand from construction and automotive industries would also contribute to the methanol market growth in the coming years. However, the outbreak of the COVID-19pandemic is expected to affect the market negatively as the manufacturers have shut down their plants temporarily.
Formaldehyde Segment to Grow Rapidly Fueled by Increasing Demand from Multiple Industries
Based on derivatives, the market is segregated into solvent, MTO/MTP, biodiesel, gasoline blending, DME, MTBE, acetic acid, formaldehyde, and others. Out of these, the acetic acid segment held 5.4%in terms of methanol market share in 2019. The formaldehyde segment is likely to be the largest throughout the forthcoming years owing to their high demand from a wide range of industries, such as textile, automobile, and construction.
Get Sample PDF Brochure:
Rising Production of Green Fuels to Favor Growth in North America
Geographically, in 2019, Asia Pacific procured USD 17.94 billion in terms of revenue. It is anticipated to be the major contributor to the market growth backed by the persistent expansion of the construction and automotive industries. China is a significant consumer and manufacturer of methanol derivatives. North America, on the other hand, is set to exhibit high growth stoked by the rising fuel blending and the increasing production of green fuels in this region.
Key Players Aim to Generate More Sales by Broadening Production Capacity
The major companies present in the market are investing hefty amounts of money in research and development activities to introduce novel products. Some of them are mainly adopting the strategy of expansion of their production capacity to increase sales. Below is one of the latest key industry developments:
- April 2019: Celanese Corporationreceived an approval from the board of directors of the Fairway MethanolLLC for the second phase expansion of its methanol production capacity. It will be done at the company’s Clear Lake facility located in the U.S. This new expansion would surge the production capacity to 1.7 million metric tons per year.
Fortune Business Insights™ lists out the names of all the methanol manufacturers operating in the global market. They are as follows:
- Methanex Corporation
- HELM AG
- Southern Chemical Corporation
- Mitsubishi Gas Chemical Company, Inc.
- Zagros Petroleum
- Mitsui & Co., Ltd.
- Celanese Corporation
- BASF SE
- Simalin Chemical Industries Pvt. Ltd.
- Other Players
Inquire Before Buying This Report:
View Other Related Reports
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
You can also contact us/follow us on: