Methanol Market - Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Methanol Market - Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

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 Bn registered in the year 2021, global methanol market is expected to grow 1.4x as indicated by a newly released research intelligence study of Fairfield Market Research. 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 Bn by 2029 end.

Key Insights and Trends Across Global Methanol Market

Coal slated to remain the top-performing segment based on feedstock, currently holding over 65% market share

Energy & MTO applications poised to register the maximum consumption of methanol, making up for more than 60% market share

Formaldehyde will continue to see an upswing in demand as it sees sustained uptake across the key application areas, including paints and adhesives, automotive, plywood, textile, pesticides, plastics, construction, and personal care

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 Market Players

Methanex Corporation, Proman AG, SABIC, Yankuang Group, Zagros Petrochemical Co., OCI, BASF SE, Celanese Corporation, Sarawak Petchem Sdn. Bhd., Mitsubishi Chemicals, Mitsui & Co., Ltd., Petroliam Nasional Berhad (Petronas), US Methanol, Yankuang Group, Carribean Gas Chemical, Methanol Holdings Limited, Velro Energy Corp., Natgasoline LLC.

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