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Methanol Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Derivatives (Formaldehyde, Methanol-to-olefins/Methanol-to-propylene, Methyl Tert-butyl Ether/Tertiary Amyl Methyl Ether, Dimethyl Terephthalate, Acetic Acid, Dimethyl Ether, Methyl Methacrylate, Methylamines, and Other Derivatives), End-user Industry (Direct and Indirect), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

5 %

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Market Overview

The market for methanol is expected to register a CAGR of around 5% during the forecast period. One of the major factors driving the market studied is the increasing demand for methanol-based fuel. On the flipside, hazardous impacts on health as a result of exposure to methanol are expected to hinder the growth of the market.

  • Formaldehyde dominated the market and is expected to grow at a healthy during the forecast period, owing to the increasing applications in the construction, automotive, and personal care industry.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.

Scope of the Report

The methanol market report includes:

Derivatives
Formaldehyde
Methanol-to-olefins (MTO)/Methanol-to-Propylene (MTP)
Methyl Tert-butyl Ether (MTBE)/Tertiary Amyl Methyl Ether (TAME)
Dimethyl Terephthalate (DMT)
Acetic Acid
Dimethyl Ether (DME)
Methyl Methacrylate (MMA)
Methylamines
Other Derivatives
End-user Industry
Direct End-user Industry
Automotive
Paints and Coatings
Pharmaceuticals
Agriculture
Indirect End-user Industry
Construction
Packaging
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Rising Demand for Methanol based Fuel

  • Methanol is considered as a gasoline component for the purpose of internal combustion and other engines, either directly or in combination with gasoline, in the form of ether (MTBE) in gasoline and fatty acid ester (FAME) in diesel. Methanol contains a number of physical properties, which makes it ideal for the transportation sector.
  • Methanol fuel is used in China as various blends, ranging from M5 to M100. Whereas, in Europe and North America, the blending of fuel is limited up to a few percentages in gasoline. Mid-level or high-level fuel blends of alcohol could enable manufacturers for designing high-efficiency engines, to compensate for the low energy density of methanol.
  • Methanol has an ability to reduce emissions of carbon monoxide, hydrocarbons, and nitrogen oxides, as compared to gasoline. However, formaldehyde emissions tend to increase especially at cold-starts.
  • China alone produces 65% of the world’s methanol and utilizes this fuel for transport. Other countries, including Israel, Italy, Japan, and South Korea, majorly use methanol as a fuel.
  • Additionally, the United States is continuously focusing on increasing the methanol-based fuel consumption rate in its transportation sector.
  • Australia has adopted the use of GEM blended fuels (gasoline, ethanol, and methanol), and it blends almost 56% of methanol.
  • Israel planned to cut the usage of oil in transportation up to 60% by 2025. It is investing on a large scale, for supporting startups that are developing biofuel technologies.
  • As a result of the aforementioned factors, methanol-based fuel has been driving the methanol market, globally, and the market studied is estimated to grow during out the forecast period.

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. With the growing petrochemical industry and increasing usage of methanol-based fuel in countries, such as China, India, and Japan, the usage of methanol is increasing in the region.
  • China is the leading producer of paints and coatings across the world. The country accounted for more than 20 million metric tons of coatings production, which is close to 30% of the global coatings output. It currently produces more than half of the Asia-Pacific coatings, and is home to more than 10,000 paint companies, among which local producers occupy more than half of the domestic paint market share. This production is expected to contribute to the demand for numerous derivatives, such as formaldehyde, acetic acid, and MMA, and is expected to boost the demand for methanol.
  • As per the Guizhou government, by the end of 2019, Southwest China's Guizhou province had set a goal of launching 10,000 methanol vehicles, among which 7,000 vehicles were set to run in Guiyang.
  • Furthermore in India, the government is pushing the usage of methanol as fuel in vehicles and as cooking fuel, to promote sustainable development with less damage to the environment.
  • Under the Methanol Economy program by NITI Aayog, the production capacity is expected to increase up to 20 metric ton of methanol annually, by 2025, using Indian high ash coal, stranded gas, and biomass.
  • Moreover, the outbreak of COVID-19 have led to a halt of operations in many sectors of various countries. Automotive, manufacturing, and construction sectors are estimated to witness declines in terms of growth and outputs, owing to the lockdown called by the governments for a brief period.

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Competitive Landscape

The global methanol market is partially fragmented in nature, with the top eight players accounting for about 41.63% of the global production capacity. Some of these major players include Methanex Corporation, SABIC, Zagros Petrochemical Co., Yankuang Group, and Proman AG, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Expanding Petrochemical Sector in United States, China, and Other Asia-Pacific Countries

      2. 4.1.2 Rising Demand for Methanol-based Fuel

      3. 4.1.3 Growing Utilization of Methanol in the Production of Olefins Using MTO

    2. 4.2 Restraints

      1. 4.2.1 Usage of Ethanol Fuel or Bio Ethanol in Comparison to Methanol

      2. 4.2.2 Hazardous Impacts on Health

      3. 4.2.3 Impact of COVID-19 Pandemic on Global Economy

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Global Capacity by Key Feedstock

    6. 4.6 Technological Snapshot

    7. 4.7 Trade Analysis

    8. 4.8 Price Trends

  5. 5. MARKET SEGMENTATION

    1. 5.1 Derivatives

      1. 5.1.1 Formaldehyde

      2. 5.1.2 Methanol-to-olefins (MTO)/Methanol-to-Propylene (MTP)

      3. 5.1.3 Methyl Tert-butyl Ether (MTBE)/Tertiary Amyl Methyl Ether (TAME)

      4. 5.1.4 Dimethyl Terephthalate (DMT)

      5. 5.1.5 Acetic Acid

      6. 5.1.6 Dimethyl Ether (DME)

      7. 5.1.7 Methyl Methacrylate (MMA)

      8. 5.1.8 Methylamines

      9. 5.1.9 Other Derivatives

    2. 5.2 End-user Industry

      1. 5.2.1 Direct End-user Industry

        1. 5.2.1.1 Automotive

        2. 5.2.1.2 Paints and Coatings

        3. 5.2.1.3 Pharmaceuticals

        4. 5.2.1.4 Agriculture

      2. 5.2.2 Indirect End-user Industry

        1. 5.2.2.1 Construction

        2. 5.2.2.2 Packaging

        3. 5.2.2.3 Electrical and Electronics

        4. 5.2.2.4 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

        4. 5.3.2.4 Rest of North America

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Atlantic Methanol

      2. 6.4.2 BASF SE

      3. 6.4.3 BP plc

      4. 6.4.4 Celanese Corporation

      5. 6.4.5 Coogee

      6. 6.4.6 Enerkem

      7. 6.4.7 Eni SpA (Ecofuel SpA)

      8. 6.4.8 Gujarat Narmada Valley Fertilizers & Chemicals Ltd

      9. 6.4.9 Kingboard Holdings Limited

      10. 6.4.10 LyondellBasell Industries Holdings B.V.

      11. 6.4.11 Methanex Corporation

      12. 6.4.12 Mitsubishi Gas Chemical Company Inc

      13. 6.4.13 Mitsui & Co. Ltd

      14. 6.4.14 Proman AG

      15. 6.4.15 Oberon Fuels

      16. 6.4.16 OCI NV

      17. 6.4.17 Petroliam Nasional Berhad (PETRONAS)

      18. 6.4.18 SABIC

      19. 6.4.19 Yankuang Group

      20. 6.4.20 Zagros Petrochemical Co.

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Use of Methanol in New and Expanding Fuel Applications

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