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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Methanol Market Share by Region
The Asia Pacific region is anticipated to provide lucrative opportunities for the market expansion of methanol in the forecast period. The increasing use of methanol derivatives such as acetic acid, formaldehyde, and MMA, among others, across industries is contributing to the expansion of the market for methanol. The growing demand for methanol in fuel applications in the transportation sector is anticipated to be a key trend invigorating the methanol market growth in the Asia Pacific region in the forecast period.
China currently represents a significant market for methanol, owing to its increased demand in methanol gasoline blending and dimethyl ether (DME), its use as a clean transportation fuel, and the country’s ability to produce abundant quantities domestically. In China, methanol is priced at a lower value compared to wholesale gasoline, and the country is focusing on the mass production of methanol capable vehicles, including fleets of taxis and buses.
Methanol Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a volume of approximately 88.00 MMT.
The market is projected to grow at a CAGR of 3.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a volume of 123.18 MMT by 2032.
The major drivers of the market are increasing production of formaldehyde from methanol, and extensive use in the automotive industry.
The key trends in the market are rising demand for methyl tert-butyl ether (MTBE), use of methanol in the construction sector, and expansion of production capacities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various applications of methanol in the market are formaldehyde, methanol to olefins (MTO), fuel applications, methyl tert-butyl ether (MTBE), acetic acid, methyl methacrylate (MMA), and methylamines, among others.
The major players in the market are Methanex Corporation, Zagros Petrochemical Company, Mitsubishi Gas Chemical Company, Inc., Celanese Corporation, PROMAN, SABIC, OCI NV, LyondellBasell Industries N.V., Yankuang Group Co., Ltd, BASF SE, Eastman Chemical Company, China National Petroleum Corporation (CNPC), PETRONAS Chemicals Group Berhad, and Gujarat Narmada Valley Fertilizers & Chemicals Limited, among others.
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