Methanol is widely used to manufacture biodiesel, which is biodegradable, safe, and produces fewer air pollutants than other fuels. Government initiatives to reduce global carbon footprint is anticipated to augment the market in the future. Methanol is also used as feedstock for the production of chemicals, such as formaldehyde, dimethyl ether, methyl tert-butyl ether, and acetic acid, used for producing foams, solvents, adhesives, plywood subfloors, and windshield washer fluid.
Expanding utilization of methanol for the development of dimethyl ether and Methyl tert-butyl ether (MTBE), used as the choices for fuel, is relied upon to push the development. DME is utilized as a fuel (diesel) in the traveler vehicle and spray charge and is additionally mixed in Liquefied Natural Gas (LNG).
ChemIntel360’s global Methanol Market study is a 170+ slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, and applications perspective. The industry is expected to grow at a CAGR of 5.5% during the forecast period mainly due to growing demand of Methanol as a viable fuel alternative for the automotive industry. Additionally, it can also be utilized with gasoline for use in automotive vehicles.
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Scope
This study contains global and regional market size data - value and volume. The numbers are broken down by application (Acetic Acid, Fuel Use, Dimethyl Ether, Biodiesel, Methyl Methacrylate, Formaldehyde, Methyl tert-butyl Ether and Others).The historical period runs through 2015-2020 and the forecasted period from 2021-2026
Market Overview
The global Methanol market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$19.6 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
Regional Insights
The countries covered in the methanol market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Competitive Landscape
Some of these major players include Methanex Corporation, SABIC, Zagros Petrochemical Co., Yankuang Group, and Proman AG, among others.
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