Global Methanol Market is estimated to reach USD 30.74 Billion by 2028, according to a new report by Reports and Data. Methanol is used as an alternative fuel for transportation, owing to its ease of distribution and availability, and combustion-efficiency across the globe. It is a high octane fuel that allows effective performance in internal combustion (IC) engines. Engines optimized for Methanol-fuel could deliver an energy-efficiency gain of around 50.0% over a standard gasoline engine in a light-duty automobile. Moreover, it can be used in IC engines as a substitute for diesel fuels. It has been found that Heavy-duty dual-fuel engines functioning on diesel and Methanol fuels can enhance efficiency and substantially reduce emissions for buses, trucks, and off-road vehicles.
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In market segmentation by manufacturers, the report covers the following companies-
SABIC, LyondellBasell Industries Holdings BV, Methanex Corporation, PETRONAS, Methanol Holdings Limited, BASF SE, Celanese Corporation, Mitsubishi Gas Chemical Company Inc., Mitsui Co. Ltd., and Enerkem, among others.
Further key findings from the report suggest:
By type, non-renewable methanol dominated the market in 2018 and is estimated to grow at a rate of 2.4% in the forecast period. Methanol is a vital and versatile chemical for the chemical industry, primarily used in the production of chemicals, including solvents and anti-freezes, additives for gasoline, or biodiesel production process.
By feedstock, natural gas contributed to a larger market share in the forecast period and is likely to grow at a rate of 2.7% in the forecast period.
By application, formaldehyde accounted for the largest market share in 2018 and is anticipated to witness a growth rate of 2.3% in the period 2019-2027. It is an essential used in plywood for home construction, window/door insulation for modern airliners, and fuel system components for automobiles. Formaldehyde offers superior utility for consumers in the form of consistent quality, extended use, and reliable performance safety.
By industry vertical, the automotive industry dominated the market in 2018 and is expected to witness a CAGR of 2.5% in the forecast period.
The market in the Asia Pacific region held the largest market share in 2018 and is likely to experience a growth rate of 3.0% in the period 2019-2027. The market dominance of the APAC is attributed to the surging demand for Methanol and its derivatives from the end-user industries in the region.
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The chemicals and materials industry has witnessed significant revenue growth over the recent past owing to increasing demand for chemicals, raw materials, consumer products such as perfumes, soaps, and detergents, and plastics from various end-use industries. Chemicals and materials are widely used in various consumer goods and different sectors such as agriculture, construction, and petroleum refining, among others. Polymers occupy the largest revenue share of the global chemicals industry owing to increasing demand from packaging industry, construction markers, and home furnishing, among others. Increasing availability of raw materials at affordable costs, lower labor and energy costs, and rapid economic growth in developing regions is a key factors boosting revenue growth of the chemicals and materials industry and the trend is expected to continue going ahead.
The report further offers an in-depth analysis of key regions in the market along with the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins. It also studies the presence of key players in each region along with macro- and micro-economic growth factors, regulatory framework, and investment and funding opportunities in each major region.
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In market segmentation by types of Methanol market-
No-Renewable Methanol
Renewable Methanol
In market segmentation by applications of the Methanol market-
Formaldehyde
Acetic Acid
Methyl Tert-Butyl Ether (MTBE)
Dimethyl Ether (DME)
Fuel Blending
Olefins
Biodiesel
Others
In market segmentation by geographical regions, the report has analysed the following regions-
North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
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