Global Methanol Market to Reach USD 44,200.76 Million by 2031 | CAGR of 4.6%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Methanol Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Methanol Market was valued at USD 31,080.00 million in 2023 and is projected to grow at a CAGR of 4.6%, reaching USD 44,200.76 million by 2031. Methanol, a versatile chemical compound, serves as a crucial feedstock for producing essential chemicals like acetic acid and formaldehyde and plays a significant role as a clean-burning fuel in engines and fuel cells. Its excellent solvent properties and low environmental impact make it indispensable across industries such as automotive, construction, and pharmaceuticals.
The report comprises the Methanol Market Share, Size & Industry Analysis, based on Feedstock (Natural Gas, Coal, Biomass, Others), Derivative (Formaldehyde, Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Others), End-Use Industry (Automotive, Construction, Electronics, Pharmaceuticals, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Methanol Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing demand for methanol from the chemical sector, coupled with its adoption as a clean-burning fuel, drives market growth. Additionally, the development of methanol-to-olefins (MTO) technology presents lucrative opportunities for market players.
Segmental Analysis :
Based on feedstock, the market is segmented into Natural Gas, Coal, Biomass, and Others.
- The natural gas segment accounted for the largest market share in 2023, driven by its suitability as a key feedstock for methanol production due to its cost-effectiveness and availability. Supportive government policies promoting low-carbon fuels further bolster this segment.
- The biomass segment is projected to grow at the fastest CAGR, fueled by the rising adoption of renewable feedstocks and stricter environmental regulations promoting sustainable practices.
Based on derivative, the market is categorized into Formaldehyde, Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), and Others.
- The formaldehyde segment held the largest market share of 36.02% in 2023, attributed to its extensive use in the construction and automotive sectors for manufacturing resins, adhesives, and composite wood products.
- The dimethyl ether (DME) segment is anticipated to grow at the fastest rate, supported by its application as a clean-burning fuel and its role as a potential replacement for diesel and LPG.
Based on end-use industry, the market is segmented into Automotive, Construction, Electronics, Pharmaceuticals, and Others.
- The construction segment captured the largest market share in 2023, driven by the growing demand for formaldehyde-based resins and adhesives used in residential and commercial building projects.
- The automotive segment is expected to grow at the fastest CAGR, supported by the increasing adoption of methanol as a high-octane fuel blend and its use in producing biodiesel and MTBE for reducing vehicle emissions.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific: Dominated the market in 2023, accounting for 52.11% of the global market share and valued at USD 16,195.79 million. This growth is driven by rapid industrialization, a booming construction sector, and the rising focus on green methanol in the region.
- North America: Expected to register the fastest CAGR of 5.1% during the forecast period, supported by abundant natural gas reserves, government initiatives promoting renewable energy, and advancements in methanol production technologies.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 44,200.76 Million |
| CAGR (2024-2031) | 4.6% |
| Feedstock | Natural Gas, Coal, Biomass, Others |
| Derivative | Formaldehyde, Acetic Acid, Dimethyl Ether (DME), Methyl Methacrylate (MMA), Others |
| End-Use Industry | Automotive, Construction, Electronics, Pharmaceuticals, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Methanol Industry:
- Methanex Corporation (Canada)
- HELM AG (Germany)
- SABIC (Saudi Arabia)
- Mitsubishi Gas Chemical Company, Inc. (Japan)
- Zagros Petroleum (Iran)
- PETRONAS (Malaysia)
- Celanese Corporation (U.S.)
- BASF SE (Germany)
- Metafrax Chemicals (Russia)
- Yankuang Energy Group (China)
Recent Industry Developments :
- October 2024: China inaugurated its first large-scale 500,000-ton green methanol project in Inner Mongolia, utilizing wind and solar energy for production.
- November 2024: Vast Renewables entered an agreement with GGS Energy to explore green methanol production in the U.S., leveraging concentrated solar thermal power.
