The report “Methanol Market by Feedstock(Natural Gas, Coal), Derivative(Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA, Acetic Acid, DME, Biodiesel), Sub-Derivative, End-use Industry, and Region(North America, APAC, Europe, South America, MEA) – Global Forecasts to 2026″, size is expected to grow from USD 30.7 billion in 2021 to USD 36.3 billion by 2026, at a CAGR of 3.4% during the forecast period. Methanol are used across industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles) and Solvents. In the methanol market, automotive is the key end-use industry owing to the wide applications of these methanol..
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• 653 Market data Tables
• 93 Figures
• 512 Pages and in-depth TOC on “Methanol Market – Global Forecast to 2026”
Some of the prominent key players are:
· Methanex Corporation (Canada)
· HELM Proman Methanol AG
· SABIC (Saudi Arabia)
· Yanzhou Coal Mining Co. (China)
· Zagros Petrochemical Company (ZPC) (Iran)
Opportunities: Use of methanol as an alternative fuel in marine and manufacturing industries
Growing interest in clean-burning fuels and regulatory changes are playing an increasing role in encouraging new applications for methanol as a fuel due to its lower emissions. There is growing interest in methanol as a marine fuel given its environmental benefits, wide availability, cost competitiveness, and successful and safe use . Methanol reduces emissions of sulfur oxides (SOx), nitrogen oxides (NOx), and particulate matter. Currently, there are pilot projects to support the commercialization of methanol as a marine fuel for cruise ships, ferries, tug boats, and barges. In China, Methanex Corporation has partnered with the China Waterborne Transportation Research Institute (CWTRI), part of the Ministry of Transport, that is evaluating the technical and operational requirements for the use of methanol as a marine fuel. In China, stringent air quality emissions regulations in provinces, such as Shandong, and Beijing are leading to a phase-out of coal-fueled industrial boilers and industrial kilns in favor of cleaner fuels, creating growing market for methanol as an alternative fuel. Methanol offers a competitive fuel cost, and as a liquid fuel, requires only a moderate infrastructure investmen.
Coal is one of the fastest-growing feedstock of the methanol market.
Coal is estimated to account for the fastest growth in the methanol feedstock segment from 2021 to 2026. Coal is considered to be the sustainable alternative raw material for large-scale methanol production which is one the important reason for the increase in demand of coal as feedstock of methanol.
APAC is expected to hold the largest market share in the global methanol market during the forecast period.
Asia Pacific accounted for the largest share of the Methanol market in 2020. Factors such as the rapidly increasing consumption of methanol in the automotive, construction and pharmaceutical industries in countries such as China, Japan, India, South Korea and Australia have led to an increased demand for Methanol in the Asia Pacific region.
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