Regionally, the global methanol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is anticipated to hold the largest market share throughout the forecast period and further attain a market revenue of USD 42063.4 Million by the end of 2030, up from a revenue of USD 21362.7 Million in 2020. The market in the region is also anticipated to grow with the highest CAGR of 5.6% during the forecast period. The growth of the market in the region can primarily be attributed to the presence of numerous manufacturers of methanol in China, which is also the world’s largest producer of methanol. Progress in construction activities in the region, along with the rising focus of the government of nations to produce eco-friendly products, and stringent government norms regarding emission control, are some of the significant factors anticipated to drive the growth of the market in the region. The market in the region is segmented by countries into China, India, Japan, South Korea, Singapore, Australia, Vietnam, and Rest of Asia Pacific. Amongst these countries, the market in China is anticipated to hold the largest market share of 74.50% by the end of 2030 and further attain a revenue of USD 31337.3 Million in the same year.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global methanol market is segmented by feedstock into coal, natural gas, and others. Amongst these segments, the coal segment is anticipated to hold the largest market share and further attain a revenue of USD 32509.5 Million by the end of 2030, up from a revenue of USD 19017.2 Million in 2020. The natural gas segment, on the other hand, is anticipated to hold the second leading stance and further grow with a CAGR of 7% during the forecast period. The rise in demand for natural gas worldwide for different end use applications, is one of the major factors anticipated to drive the growth of the segment in the coming years. According to the statistics by the U.S. Energy Information Administration (EIA), total consumption of natural gas in the United States increased from 24086797 MMcf in the year 2010 to 31014345 MMcf in the year 2019.
The market is further segmented by derivatives into formaldehyde, acetic acid, methyl tert-butyl ether (MTBE), methanol to olefins (MTO), gasoline, dimethyl ether (DME), and others. Amongst these segments, the methanol to olefins (MTO) segment is expected to hold the largest market share and further attain a revenue of USD 18607.2 Million by the end of 2030. The dimethyl ether (DME) segment, on the other hand, is expected to grow with the highest CAGR of 5.7% during the forecast period. On the basis of application, the market is segmented into transportation fuel, cooking fuel, wastewater treatment, chemical additive, and others. Out of these, the transportation fuel segment is anticipated to hold the largest revenue of USD 21797.5 Million by the end of 2030, up from USD 11219.4 Million in 2020. The market is also segmented by end use industry into paints & coatings, automotive, construction, pharmaceuticals, electronics, agriculture, and others, out of which, the automotive segment is anticipated to hold the largest market share and further attain a revenue of USD 22338.2 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global methanol market that are included in our report are Celanese Corporation, SABIC, Zagros Petrochemical Company, Petroliam Nasional Berhad (PETRONAS), Mitsui & Co., Ltd., BASF SE, Atlantic Methanol, LyondellBasell Industries Holdings B.V., Methanex Corporation, Mitsubishi Gas Chemical Company, Inc., and others.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: The rise in demand for methanol from the end user industries is one of the major factors anticipated to drive the growth of the global methanol market in the coming years.
Ans: The market is anticipated to attain a CAGR of 5.2% over the forecast period, i.e., 2020-2030.
Ans: The availability of low-cost alternatives is one of the major factors estimated to hamper the market growth.
Ans: The market in North America is anticipated to hold the second leading stance in terms of market share and further display significant business opportunities in the near future.
Ans: The major players in the market are Celanese Corporation, SABIC, Zagros Petrochemical Company, Petroliam Nasional Berhad (PETRONAS), Mitsui & Co., Ltd., BASF SE, Atlantic Methanol, LyondellBasell Industries Holdings B.V., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by feedstock, derivatives, application, end use industry, and by region.
Ans: The coal segment is anticipated to hold largest market size in value and is estimated to display significant growth opportunities.