The new report by Expert Market Research titled, 'Global Methanol Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025′, gives an in-depth analysis of the global methanol market, assessing the market based on its segments like end uses and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
Historical CAGR (2015-2019): 5.5%
Since it is safer and cheaper, methanol is considered to be an acceptable alternative to the fossil fuels. This has resulted in an increase in consumption in emerging economies, mostly in the Middle East and the Asia Pacific. In these regions, methanol is imported primarily to be combined with non-renewable fossil fuels. In combination with petroleum, it increases the speed and energy of vehicles and reduces the cost of fuel. Emerging economies' governments aim to increase the blending of methanol in petroleum by 3% to 85% depending on vehicle performance and functional efficiency. Methanol is used extensively for the esterification of acetate acid. The rhodium-catalyzed carbonylation process is the most common processing process in relation to acetic acid. In this process, carbon monoxide and methanol reactions are involved. It also helps to produce methyl acetate, which is widely used as a solvent forester, cellulose, and nitrate.
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Industry Definition and Major Segments
Methanol (CH3OH) refers to liquid alcohol that is light, volatile, inflammable, and toxic. Also known as 'wood alcohol,' methanol is a water-soluble colourless fluid of mild alcoholic odour. Liquid methanol is an excellent method to store and transport energy comfortably and safely.
Based on its end-use, the market can be divided as follows:
- Methanol to Olefins (MTO)
- Fuel Applications
- Methyl Tert-Butyl Ether (MTBE)
- Acetic Acid
- Methyl Methacrylate (MMA)
The major regional markets for methanol are
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Since methanol is easily available and highly efficient, it is widely used as a transport fuel and anti-freeze agent for auto radiators in the automotive sector. It is furthermore also used in the manufacturing of safer alternatives to conventional gasoline, like dimethyl ether (DME) and methyl tert butyl ether (MTBE). It also forms a large biodiesel component and is used in internal combustion motors. It is also used in the production of adhesives, paints, placemats, solvents, sprays, plastics, and explosives. Moreover, given the ease and environmentally friendliness of methanol biodegrade, it is preferable in relation to counterparts such as crude oil, petrol, and diesel.
Key Market Players
The major players in the market are Methanex Corporation (TSE: MX), Ar-Razi Saudi Methanol Co., Methanol Holdings (Trinidad) Limited, Zagros Petrochemical Company, Mitsubishi Gas Chemical Company, Inc (TYO: 4182), and PJSC Togliattiazot, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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