This expansion can be attributed to the quickly growing automotive business in rising nations like India and China on account of the increasing call for vehicles. These thermoplastics are favored in various industries including automotive, construction, and furniture due to their versatility and other beneficial properties. BASF SE, BP Plc, Celanese Corp., and ENERKEM Inc. will emerge as major methanol market participants during 2020-2024. © 2019 Market Data Forecast All Rights Reserved. The DME segment is expected to lead this market during the forecast period. COVID-19 Pandemic to Affect Market Severely Owing to Decline in Production. The Methanol Market is expected to rise from its initial estimated value of USD 83.30 billion in 2018 to a projected value of USD 130.68 billion by … The report ‘Methanol Market Share, Size, Trends, & Industry Analysis Report, [By Feedstock (Natural Gas, Coal), By Derivatives (Formaldehyde, Acetic Acid, Gasoline, […] The Latin American market is estimated to showcase considerable development owing to the rising cosmetics and personal care business, mainly in Brazil and Mexico, on account of the increasing call for cosmetics and skincare products. What is the key factor driving the market? Methanol has been one of the most widely used industrial chemicals since the 1800s. Poisoning from methanol might occur due to the consumption of alcohols which are contaminated with it. The stoppage in the manufacturing sectors has minimized the demand for adhesives, paints, and chemicals derived from methanol, thereby contributing to the decline in its production. Global Methanol Market Size is calculated to grow remarkable from 2018 to 2024, owing to its highest demand in the automotive industry. The report also offers an estimation of revenue, market size, market share, year-on-year growth, and CAGR. Pharmaceutical Segment is expected to be the leading segment in Methanol Market during the forecast period. Automotive is the biggest end-use business in the market and accounted for almost one-fifth of the overall revenue share in 2019. Plastics play an important role in the automobiles by reducing the overall weight of the vehicle, thereby imparting properties similar to metals, and improving the fuel efficiency of the vehicle. Thank you Fortune Business Insights for your efforts and prompt response”, “I had a great experience working with Fortune Business Insights. The growth of the methanol market. Automobile production is increasing worldwide as a result of the rising call for lightweight vehicles to decrease carbon emissions. The use of methyl alcohol as a transportation fuel provides advantages, including high octane fuels which minimize the toxic emissions when blended with gasoline and the production from renewable feedstocks. Global demand of methanol is mainly driven by the production of other basic chemicals whic… The impact of the COVID-19 pandemic on this market is expected to be more significant due to the slowdown in the manufacturing activities. The market is estimated to be USD 20.4 billion in 2020 and is projected to reach USD 26.6 billion by 2025. The market in the Middle East & Africa is probable to show considerable expansion over the foreseen period due to the quickly developing end-use businesses like automotive, construction, and packaging. Global Methanol Market by Feedstock Market Size 2020 Global Industry Share, Revenue, Business Growth, Demand and Applications Market Research Report to … The consumption of methanol is escalating in the building and construction business where formaldehyde-based resins are employed to manufacture composites and engineered wood products. LONDON--(BUSINESS WIRE)--The global methanol market size is expected to grow by USD 15.62 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. 17.4. 4.30% CAGR, Methanol Market, Size, Outlook 2020-2027 Categorizes the Global Market by Type, By Application and by Region - Industry Analysis, Size, Share, Growth Opportunities, Trends, and … Methanol is a colorless, light, volatile, and flammable liquid with a characteristic smell similar to ethyl alcohol (ethanol). At what CAGR is the market projected to grow in the forecast period (2020-2027)? The derivative formaldehyde segment is expected to remain the largest in terms of volume in the market during the forecast period. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”, “Please pass on our sincere thanks to the whole team at Fortune Business Insights. This report covers the present market conditions and the growth prospects of the global methanol market for 2019-2027 and considered the revenue generated through the sales of methanol for derivatives to calculate the market size by considering 2018 as the base year. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. The introduction of the Methanol cooking fuel program in Asia is a historic day for India. . Market Outlook and Investment Opportunities, Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped, Segment-level analysis in terms of by feedstock,by end use,along with market size forecasts and estimations to detect key areas of industry growth in detail, Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics, Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis, Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development, A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment, Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies, An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions, Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market, Global Methanol  Market By Region, From 2020-2025 ( USD Billion ), Global Methanol  Market By Feedstock, From 2020-2025 ( USD Billion ), Global Natural Gas Market By Region, From 2020-2025 ( USD Billion ), Global Coal Market By Region, From 2020-2025 ( USD Billion ), Global Methanol  Market By Derivative, From 2020-2025 ( USD Billion ), Global Formaldehyde Market By Region, From 2020-2025 ( USD Billion ), Global MTO/MTP Market By Region, From 2020-2025 ( USD Billion ), Global Gasoline Market By Region, From 2020-2025 ( USD Billion ), Global MTBE Market By Region, From 2020-2025 ( USD Billion ), Global MMA Market By Region, From 2020-2025 ( USD Billion ), Global Methanol  Market By Sub-Derivative, From 2020-2025 ( USD Billion ), Global UF/PF Resins Market By Region, From 2020-2025 ( USD Billion ), Global Olefins Market By Region, From 2020-2025 ( USD Billion ), Global Methanol  Market By End-Use Industry, From 2020-2025 ( USD Billion ), Global Construction Market By Region, From 2020-2025 ( USD Billion ), Global Automotive Market By Region, From 2020-2025 ( USD Billion ), Global Electronics Market By Region, From 2020-2025 ( USD Billion ), Please wait. The increasing demand for polyolefins from several end-use industries will drive the methyl alcohol market. Email Print Friendly Share. The production process involves conversion of natural gas to syngas by partial oxidation or steam reforming, which is further processed to obtain methanol. Posted on June 11, 2020 June 11, 2020 Author admin Comment(0) Methanol, also known as wood alcohol, is a volatile, combustible, colourless and noxious liquid with the chemical formula CH3OH. The global methanol market size was valued at USD 28.50 billion in 2019 and is projected to reach USD 40.48 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period. In terms of application, the market is segmented into construction, automotive, electronics, and others. Methanol Market Size, Business Growth, Global Market Analysis, Share, Research, and Forecast to 2029 . North America is another major market for methanol owing to its rising employment in water treatment facilities in the denitrification procedure as it assists in decreasing the volume of dangerous effluents discharged. These safe handling canister based cooking stoves are manufactured using from Swedish Technology and a large-scale cooking stove making plant will come up in India in the coming 18 months. Methanol is the simplest alcohol and is a type of petrochemical. 1 Data for 2027 is projected. Serving Numerous Markets Has Increased the Presence of Key Players in Global Market. We use cookies to enhance your experience. Methanol also has a high octane and … “We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Methanol Market Size, Share & Forecast (2020 - 2025) The size and share of the Global Methanol Market size were worth USD 29.78 Billion in 2020 and are estimated to showcase a CAGR of about 13% between 2020 and 2025. Northeast and Assam Petro-chemicals, a government-controlled firm in India introduced Asia's first "Methanol Cooking Fuel Program". 16.2. Methanol is a light flammable liquid that can be obtained with the help of natural gas, oil, coal, or renewable resources like biomass and landfill gas as a feedstock. For example, Methanex Corporation, one of the major players in the market, halted its plants located in Chile and Trinidad with the production capacities of 800 KT per annum and 850 KT per annum, respectively. The MarketWatch News Department was not involved in the creation of this content. Market size and Forecast. The emergence of the COVID-19 pandemic is causing huge losses for numerous industries. A shift towards greener fuels is expected to drive the adoption of these products. The demand from fueling applications, such as production of green fuels and fuel blending, in North America is responsible for the growth in this region. The key players are investing in research and development activities to serve numerous markets. Formaldehyde is the biggest application sector as it is highly employed for the production of plywood, plastics, and paints. Singapore Exchange (SGX) introduced methanol futures and exchange contracts to assist methanol producers, traders and downstream users manage risk and enhance price discovery amid increasing demand. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC), 5.1.4  Y-o-Y Growth Analysis, By Feedstock, 5.1.5  Market Attractiveness Analysis, By Feedstock, 5.1.6  Market Share Analysis, By Feedstock, 5.2.7 Y-o-Y Growth Analysis, By Derivative, 5.2.8 Market Attractiveness Analysis, By Derivative, 5.2.9 Market Share Analysis, By Derivative, 5.3.4 Y-o-Y Growth Analysis, By Sub-derivatives, 5.3.5  Market Attractiveness Analysis, By Sub-derivatives, 5.3.6  Market Share Analysis, By Sub-derivatives, 5.4.5 Y-o-Y Growth Analysis, By End-Use Industry, 5.4.6  Market Attractiveness Analysis, By End-Use Industry, 5.4.7  Market Share Analysis, By End-Use Industry, 7.2.4 Threat of Substitute Products and Services, 7.2.5 Competitive Rivalry within the Industry, 9.3 Agreements, collaborations and Joint Ventures, 10. The latest report on Methanol Fuel market comprises of a detailedtudy of this industry vertical to help businesses make well-informed decisions for the future. By Feedstock, Derivative, Sub-derivative, End-user and Region, Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities, North America, Europe, APAC, Latin America, Middle East & Africa, Methanex Corporation (Canada), SABIC (Saudi Arabia), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company (Japan), and Mitsui & Co., Ltd. (Japan). Additionally, China being the major manufacturer and consumer of methyl alcohol derivatives will have a significant effect on the methanol market growth. These companies are implementing expansion and acquisition strategies to increase their presence in the market. The global methanol market size was valued at USD 28.50 billion in 2019 and is projected to reach USD 40.48 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period. Per Capita Average Methanol Expenditure, By Country . Methanol Market Size, Percentage Of GDP, By Country. Methanol Market Size And Forecast Methanol Market was valued at USD 30.85 Billion in 2019 and is projected to reach USD 38.49 Billion by 2027, growing at a CAGR of 2.8% from 2020 to 2027. Natural gas and coal are the major feedstock for the production of methanol. Renewable Methanol Market size is expected to achieve high growth rates in the near future owing to rising concerns for reducing carbon dioxide emissions worldwide.. Renewable methanol is derived from unconventional sources of energy such as from industrial wastage and biomass. One of the major factors driving the market studied is the increasing demand for methanol-based fuel. Based on derivatives, the market is segmented into formaldehyde, acetic acid, MTBE, DME, gasoline blending, biodiesel, MTO/MTP, solvent, and others. Inhalation or consumption of it can lead to blindness, accumulation of acid in blood, and death. Nowadays it is largely manufactured from natural gas. 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