Straits Research Published Comprehensive Report On The Global Methanol Market: Projected Growth, Key Trends And Opportunities – Download Free Capsule Report Now

/EIN News/ -- New York, United States, Jan. 09, 2025 (GLOBE NEWSWIRE) -- The global methanol market size is projected to reach from USD 34.253 billion in 2025 to USD 53.15 billion by 2033, growing at a CAGR of 5.7% during the forecast period (2025-2033).

Methanol (CH₃OH) is a single-carbon compound produced from coal, natural gas, and biomass. Based on end-users, the automotive segment is anticipated to account for a significant share of the global market due to the rising demand for lightweight vehicles in order to reduce carbon emissions. The automotive segment is anticipated to contribute most to the methanol market as there has been a drastic rise in the use of transportation fuel. Methanol is extensively used as a transportation fuel in the automobile industry for its efficiency and easy availability. The compound is also used for manufacturing Dimethyl Ether (DME) and Methyl Tert-Butyl Ether (MTBE), which is considered an ideal substitute for traditional gasoline.

Methanol also finds application in the manufacturing of formaldehyde, acetic acid, and methyl acetate. The rising demand for methanol in the construction industry drives market growth. Formaldehyde-based resins are utilized to make engineered wood and composite products. Increasing commercial and residential construction activities and surging per capita income provide an impetus to market growth.

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Market Dynamics

Expansion of Methanol-to-Olefins (MTO) and Methanol-to-Propylene (MTP) Technologies

The growth of MTO and MTP technologies is driving the methanol market by providing a non-oil route to produce essential petrochemical building blocks. These technologies have advanced significantly, with successful implementations like China's Zhongyuan Petrochemical producing thousands of tons of olefins annually. They utilize methanol from various sources, enhancing energy security and flexibility.

Adoption of Methanol as an Alternative Fuel in Marine and Manufacturing Industries

The adoption of methanol as an alternative fuel in the marine and manufacturing sectors is increasing due to stringent environmental regulations and decarbonization efforts. Methanol reduces emissions of NOx, SOx, and particulate matter, helping industries meet IMO standards. Companies like Maersk are building methanol-powered vessels, and its versatility allows for integration into new and existing engines, aiding the transition to cleaner energy.

Adoption in Renewable Energy Storage and Electricity Generation

Methanol presents significant opportunities in renewable energy storage and electricity generation through Direct Methanol Fuel Cells (DMFCs). These fuel cells convert methanol into electricity efficiently, ideal for portable devices and off-grid solutions. Companies like SFC Energy use methanol-based fuel cells for off-grid applications, offering easy refueling and eliminating bulky battery systems. As demand for renewable energy storage grows, methanol-based fuel cells will play a crucial role in global decarbonization efforts.

Regional Analysis

North America's methanol market growth is driven by major players like Methanex, BASF, and Mitsubishi Gas Chemicals. The region is seeing increased demand for green and blue methanol as sustainable marine fuels, prompting the establishment of new production plants in Louisiana, Beaumont (Texas), and Fairway (Clear Lake). Meanwhile, the Asia-Pacific region leads the global market, accounting for 41.6% of the share, fueled by industrial giants in China, Japan, India, and South Korea. Rapid industrialization and strong import-export dynamics bolster methanol production, making the region a global leader.

Key developments include Mexico’s IFC-backed net-zero methanol plant in Sinaloa, capable of producing 6,145 metric tons daily, and China’s dominance in methanol demand due to its use in light olefins and energy applications like DME. Japan aims to replace 20% of transportation fuel with methanol, and India’s 'Methanol Economy' program targets a 15% gasoline blend to reduce imports and emissions. France’s biofuel policies, Brazil’s e-methanol project with European Energy, and the UAE’s partnership with Proman for a large-scale methanol plant in Abu Dhabi highlight global strides in expanding methanol production and its renewable applications.

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Top 4 Key Highlights

• By feedstock, the global methanol market is bifurcated into natural gas, coal and biomass & renewables. .The natural gas segment dominates the market due to its availability and cost-effectiveness.
• By application, the global methanol market is bifurcated into Formaldehyde, Acetic Acid, Methyl tert-butyl ether (MTBE), Dimethyl ether (DME), Fuel Blending, Methanol-to-diesel (MTD), and Biodiesel. Formaldehyde dominates with the largest market share.
• By sales channel direct and distribution sales channels are the main segments. The direct sales channel drives growth by enabling strong producer-consumer relationships and accounts for the highest revenue.
• North America dominates the global methanol market, led by key players like Methanex, BASF, and Mitsubishi Gas Chemicals.

Competitive Players

1. Atlantic Methanol
2. Metafrax Group
3. Celanese Corporation
4. Methanex Corporation
5. Zagros Petrochemical Company
6. OCI Global
7. Mitsui
8. BASF SE
9. Proman AG
10. Equinor
11. Koch Industries
12. Mitsubishi Gas Company
13. Petroliam Nasional Berhad (PETRONAS)
14. LyondellBasell Industries
15. SABIC

Recent Developments

• March 2024: Methanol Chemicals Company has signed an agreement to acquire an 84% stake in Adani Chaddar Chemicals Company. This strategic acquisition is expected to enhance Methanol Chemicals Company's production capabilities and expand its market presence.
• February 2024 - Consolidated Energy Limited (CEL) successfully acquired a 60% stake in Oman Methanol Company LLC (OMC). This acquisition will enable CEL to strengthen its foothold in the CH₃OH market and leverage OMC's operational efficiencies to drive growth and innovation in CH₃OH production.

Segmentation

1. By Feedstock

1. 1. Natural Gas
   2. Coal
   3. Biomass & Renewables

2. By Applications

2. 1. Formaldehyde
   2. Acetic Acid
   3. Methyl tert-butyl ether (MTBE)
   4. Dimethyl ether (DME)
   5. Fuel Blending
   6. Methanol-to-diesel (MTD)
   7. Biodiesel
   8. Others
3. By Sales Channel
   1. Direct
   2. Distribution
4. By Region
   1. North America
   2. Europe
   3. Asia Pacific
   4. Middle East And Africa
   5. Latin America

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