Methanol Market Forecast 2028 Trend Growth and Global Analysis – The Insight Partners.

Posted by niket gore on August 5th, 2022

The methanol market is projected to reach US$ 41,974.76 million by 2028 from US$ 28,114.27 million in 2021; it is expected to grow at a CAGR of 5.9% from 2021 to 2028. Methanol, also known as methyl alcohol, is the simplest from the long series of alcohols, prepared by directly combining carbon monoxide gas and hydrogen in the presence of a catalyst. Methanol is used in fabricating different products such as adhesives, paints and coatings, carpet underlay, wood panels, methanol, fuel system, components, brake pads, paper towels, cosmetics, carpeting, furniture, and cabinets.Based on derivative, the global methanol market is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO) / methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others.  The formaldehyde segment is anticipated to grow at the highest CAGR during the forecast period. Formaldehyde is a colorless poisonous gas synthesized through methanol oxidation. It is used as an antiseptic, disinfectant, and general-purpose chemical reagent in laboratory applications. Formaldehyde is also widely used in the pharmaceuticals industry in the production of vaccines, anti-infective drugs, and hard-gel capsules. Moreover, formaldehyde finds applications as a preservative in food, medicines, and cosmetics.

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Methanol Market: Segmental Overview

The market, by derivative, is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO)/methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. The methanol-to-olefins (MTO) / methanol-to-propylene (MTP) segment is txpected to register the highest CAGR during the forecast period. Methyl alcohol is one of the major components for olefins (MTO) production, such as ethylene and propylene. These olefins are widely used for manufacturing synthetic rubber, synthetic plastic, pharmaceuticals, and textile dyes.Based on end-user industry, the market is segmented into automotive, construction, electronics, packaging, pharmaceuticals, paints and coatings, and others. The market for the electronics segment is expected to grow at the highest CAGR during the forecast period. Portable electronic devices such as Methanol Market: Segmental Overview

The market, by derivative, is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO)/methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. The methanol-to-olefins (MTO) / methanol-to-propylene (MTP) segment is txpected to register the highest CAGR during the forecast period. Methyl alcohol is one of the major components for olefins (MTO) production, such as ethylene and propylene. These olefins are widely used for manufacturing synthetic rubber, synthetic plastic, pharmaceuticals, and textile dyes.

Based on end-user industry, the market is segmented into automotive, construction, electronics, packaging, pharmaceuticals, paints and coatings, and others. The market for the electronics segment is expected to grow at the highest CAGR during the forecast period. Portable electronic devices such as personal digital assistants (PDAs), laptops, and headphones are vital tools for the masses in their daily lives. Rechargeable batteries used to power these portable electronic devices could be improved in terms of power density. There is also an essential need for efficient, renewable, and more environment-friendly power sources. The direct methanol fuel cell (DMFC) is a suitable alternative to rechargeable battery technology. The use of passive direct fuel cells for portable electronic devices are anticipated to propel the electronics segment growth during the projection period.

Impact of COVID-19 Pandemic on Methanol Market

The methanol market faced unprecedented challenges in 2020 after the onset of COVID-19. The significant decline in the growth of several industries impacted the demand in the global market. However, as the economies of several countries are resuming to normal and companies from the manufacturing industries are regaining their operations to normalcy, the demand is anticipated to rise in the coming years. Besides, the previously postponed construction projects are ready to resume, which is providing further opportunities for the market players.

Methanol Market: Competition Landscape and Key Developments

METHANEX CORPORATION; OCI N.V.; BASF SE; SABIC; MITSUBISHI GAS CHEMICAL COMPANY, INC.; HELM AG; CELANESE CORPORATION; ZAGROS PETROCHEMICAL COMPANY; MITSUI AND CO., LTD.; and LYONDELLBASELL INDUSTRIES HOLDINGS B.V. are among the key players in the market. These market players are highly focused on developing high-quality products through innovative methods to meet the customer’s requirements. (PDAs), laptops, and headphones are vital tools for the masses in their daily lives. Rechargeable batteries used to power these portable electronic devices could be improved in terms of power density. There is also an essential need for efficient, renewable, and more environment-friendly power sources. The direct methanol fuel cell (DMFC) is a suitable alternative to rechargeable battery technology. The use of passive direct fuel cells for portable electronic devices are anticipated to propel the electronics segment growth during the projection period. 

 

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Impact of COVID-19 Pandemic on Methanol Market

The methanol market faced unprecedented challenges in 2020 after the onset of COVID-19. The significant decline in the growth of several industries impacted the demand in the global market. However, as the economies of several countries are resuming to normal and companies from the manufacturing industries are regaining their operations to normalcy, the demand is anticipated to rise in the coming years. Besides, the previously postponed construction projects are ready to resume, which is providing further opportunities for the market players.

Methanol Market: Competition Landscape and Key Developments

METHANEX CORPORATION; OCI N.V.; BASF SE; SABIC; MITSUBISHI GAS CHEMICAL COMPANY, INC.; HELM AG; CELANESE CORPORATION; ZAGROS PETROCHEMICAL COMPANY; MITSUI AND CO., LTD.; and LYONDELLBASELL INDUSTRIES HOLDINGS B.V. are among the key players in the market. These market players are highly focused on developing high-quality products through innovative methods to meet the customer’s requirements.

Companies_ Methanol Market

  • Methanex Corporation
  • OCI N.V.
  • BASF SE
  • SABIC
  • Mitsubishi Gas Chemical Company, Inc.
  • HELM AG
  • Cleanse Corporation
  • Zagros Petrochemical Company
  • Mitsui & Co., LTD
  • LYONDELLBASELL INDUSTRIES HOLDINGS B.V

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niket gore

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niket gore
Joined: July 6th, 2022
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