The global methanol market was worth nearly US$ 21 Billion in 2017, registering a CAGR of more than 9% during the year 2010-2017. The market is further projected to reach a value of US$ 45 Billion by 2023, at a CAGR of around 14% during the year 2018-2023. Methanol (CH3OH), commonly known as wood alcohol, refers to a colourless and volatile liquid alcohol which is primarily made by oxidising methane. It can be manufactured by using a variety of carbon-based feedstock like natural gas, coal and biomass. Apart from this, methanol is miscible in different solvents like water, alcohol, ether and ketones, and its low rate of evaporation coupled with low radiant heat energy has led to its wider adoption across the globe.
Global Methanol Market Drivers/Constraints:
- Methanol finds numerous applications in the manufacturing of formaldehyde and acetic acid. However, in the past few years, there has been a step-like growth into new end uses, like light olefins production as well as high demand into energy applications, such as DME and direct gasoline blending.
- The decoupling of natural gas and crude oil prices in several countries has created an arbitrage opportunity for methanol, which is manufactured using natural gas but trades in lockstep with the crude oil.
- Methanol offers long term possibilities for reducing greenhouse gases. As methanol biodegrades easily, it is considered as a safer alternative to its competing products like crude oil, gasoline and diesel fuel which are presently one of the major sources of environmental concerns.
- Owing to its environment-friendly nature, governments across various nations are encouraging the usage of methanol which is anticipated to further increase the demand for methanol.
Breakup by Application:
On the basis of application, the market is segmented as formaldehyde, dimethyl ether, gasoline, chloromethane, MTBE/TAME, acetic acid and others. Amongst these, formaldehyde accounts for the majority of the market share as it finds innumerable applications in industries like plywood, plastic and paint. Moreover, it is also used as a fuel on account of its remarkable blending attributes.
On a geographical front, China enjoys a leading position in the global methanol market on account a high demand for methanol gasoline blends in the region. China is followed by Asia Pacific (excluding China), Europe, North America, Latin America, and Middle East and Africa.
The market is highly fragmented in nature due to the presence of numerous regional and large manufacturers who are competing in terms of prices and quality. There prevails a tough competition in the market which makes it difficult for the small players to enter. Some of the key players operating in the market include:
- Methanex Corporation
- Southern Chemical Corporation
- Saudi Arabian Basic Industries Corp
- Mitsubishi Gas Chemical
- Zagros Petrochemical Company
This report provides a deep insight into the global methanol market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the methanol market in any manner.
Key Questions Answered in This Report:
- How has the global methanol market performed so far and how will it perform in the coming years?
- What are the key regions in the global methanol market?
- What are the key application segments in the global methanol market?
- What are the price trends of methanol?
- What are the various stages in the value chain of the global methanol market?
- What are the key driving factors and challenges in the global methanol market?
- What are import and export trends of the global methanol market?
- What is the structure of the global methanol market and who are the key players?
- What is the degree of competition in the global methanol market?
- How is methanol manufactured?