PUBLISHER: ChemAnalyst | PRODUCT CODE: 966050
PUBLISHER: ChemAnalyst | PRODUCT CODE: 966050
Global Methanol demand stood at 84.55 Million Tonnes in 2020 and is forecast to reach 135.60 Million Tonnes by 2030, growing at a healthy CAGR of 4.97% until 2030. Methanol is used in a wide variety of applications in the Construction Industry, Automotive, Electronics, Fuel, Paint and Pharmaceutical Industry. With the onset of Covid-19 in the March 2020, the demand of methanol has shrunk, and the prices are lower in comparison to previous months. The largest manufacturer of methanol, Methanex Corporation has closed its operations and the imports of the methanol from the largest importer of Methanol i.e. China also came to halt due to shutdown of the Methanol producing Industries. But as the impact of Coronavirus on the economy is expected to decrease over the coming months, the demand of methanol is also expected to gain stability.
Methanol is a polar solvent also known as Wood Solvent. It is volatile, colorless and light liquid which has properties similar to Ethanol, but it is more toxic. It is used in the manufacture of fuel, solvent and antifreeze. The use of methanol still remains popular in the manufacture of formaldehyde, MTO (Methanol to Olefins) and Acetic Acid. About 65% of the total methanol is produced by Natural and 35% by Coal. With the rise in pollution, the need for the environment friendly fuel is increasing every year. Methanol is the best alternatives to reduce carbon footprints. Methanol blending is one of the practices that is gaining popularity because it is approximately 240 times safer than Biodiesel.
Due to a recent out break of COVID-19 in last year the market suffered a setback since the imposed lockdown halted the consistent flow of the production of methanol. The chemical industry was halted for a while before regaining its composure in the next year. The methanol production was halted by the major market giants concerned for the health and wellness of their employees in the production units thereby affecting the market drastically.
In comparison to 2015, the demand of methanol in Energy saving applications has reached approximately 45% in 2020. Some players have gone for capacity expansions to accommodate for the sudden surge in Methanol demand in Asia-Pacific. Methanol consumption is reportedly the highest in China and the APAC region was the fastest growing region among all. Methanol's multi-faceted application across several industries is expected to push demand for the product to unprecedented levels during the forecast period.
Historical Years: 2015 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2030
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Methanex Corporation, Methanol Holdings Trinidad Limited, SABIC, Zagros Petrochemical Co., Yankaung Group Private Limited, OCI Beaumont, Petronas Chemical Group, Mitsubishi Gas Chemical Company, Mitsubishi (MSK) etc., are some of the leading players operating in the Global Methanol market.
To extract data for Global Methanol market, primary research surveys were conducted with Methanol manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Methanol market over the coming years.
ChemAnalyst calculated Methanol global demand by analyzing the historical data and demand forecast was carried out considering Propylene and crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Methanol manufacturers, distributors, importers and end users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the Global Methanol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use-Formaldehyde, Methanol to Olefins, DME, Acetic Acid, Other
Market, by Sales Channel-Direct/Institutional Sales, Indirect Sales
Market, by Region-North America, APAC, Europe, MEA, South America
Market, by Region:
North America- United States, Mexico, Canada
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
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