Global Methanol Market to Reach $72.9 Billion by 2029 at a CAGR of 4.7%
Saturday, December 3, 2022
DUBLIN, Nov. 25, 2022 /PRNewswire/ -- The "Methanol Market - Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
Methanol continues to be a preferred versatile feedstock for several end-use industries. Flowing methanol uptake by pharmaceuticals, plastics, paints and adhesives, resins, plywood, foams, perfumes, and explosives industries will drive the global methanol market forward.
Up from the valuation of nearly US$44.4 Billion registered in the year 2021, the global methanol market is expected to grow 1.4x as indicated by a newly released research intelligence study of the analyst. Over the recent past, there has been a growing consideration of methanol as an economically viable, and potentially safer, more efficient alternative to conventional marine fuels. This according to the report will work to the advantage of methanol market worldwide. The clean burning potential of methanol is likely to keep building the boom around it against gasoline, says the report. Demonstrating an estimated CAGR of 4.7% over 2022 - 2029, methanol market revenue will most likely reach US$72.9 Billion by 2029 end.
Methanol Market to Witness Dominance of Coal over Other Feedstock Options, Formaldehyde Remains Top-selling Category
Among chemicals, formaldehyde has been the top-selling segment owing to the widespread application base in manufacturing of urea-, melamine-, and phenol formaldehyde resins. With over 20% share in the overall methanol market value, formaldehyde is expected to retain the top spot through the end of 2025. Moreover, formaldehyde is being increasingly considered as an ideal blended fuel candidate, which further strengthens its market potential to a large extent. The report marks coal as the most preferred feedstock based on its cost-competitive attribute. Coal consumption recorded a market share of more than 65% in 2021 and will remain in the bandwagon throughout the period of projection. Application-wise analysis of the market reveals that energy & MTO will continue to represent the most lucrative segment with a share of over 60% in methanol market. Escalating demand for energy-related applications like fuel blending, DME, biodiesel, and MTBE/TAME are expected to play a significant role, says the report.
China's Preeminent Position in Methanol Market Remains Intact
The US methanol market though thrives on the back of automotive applications will reap a significant benefit from the potential applicability of methanol in biodiesel production. China on the other hand continues to represent the global chemical hub and is thus expected to be the largest and most attractive market for methanol manufacturers as well. The report highlights the maximum opportunity in China based on its excellent MTO output that accounts for the lucrative market positioning of northeast Asia in global methanol space. Sustained methanol uptake in manufacturing of light olefins, a growing number of MTO/CTO units, and a host of energy applications are likely to offer a collective impetus to China's methanol market.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics
4. Price Trends Analysis and Future Projects, 2018 - 2029
5. Global Methanol Market Outlook, 2018 - 2029
5.1.Global Methanol Market Outlook, by Source, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2029
5.2.Global Methanol Market Outlook, by End - users, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2029
184.108.40.206.6.Misc. (Silicone, Chloromethane, etc.)
220.127.116.11. Energy & MTO
18.104.22.168.1.Methanol - to - Olefins (MTO)
22.214.171.124.4.Dimethyl Ether (DME)
5.3.Global Methanol Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2029
6. North America Methanol Market Outlook, 2018 - 2029
7. Europe Methanol Market Outlook, 2018 - 2029
8. Asia Pacific Methanol Market Outlook, 2018 - 2029
9. Latin America Methanol Market Outlook, 2018 - 2029
10. Middle East & Africa Methanol Market Outlook, 2018 - 2029
11. Competitive Landscape
-- Methanex Corporation
-- Proman AG
-- Yankuang Energy Group Company Limited
-- Zagros Petrochemical Company
-- OCI N.V.
-- PETRONAS Chemicals Group Berhad
-- Mitsubishi Gas Chemical Company, Inc.
-- Celanese Corporation
-- LyondellBasell Industries N.V.
-- Metafrax Chemicals PAO
-- Ningxia Baofeng Energy Group Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/l1bzw3
Research and Markets
Laura Wood, Senior Manager
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