Global Methanol Market is valued approximately at USD 20.4 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2021-2027. Methanol is used in very large quantities in petrochemicals production industry. Growing use of petrochemicals globally is driving the market of methanol. The demand for automotive industry has increased in the past few years which in turn is increasing the demand of consumer good and vehicles which will be a growth factor for the methanol market. Furthermore, methanol is used as a fuel for ships as it has low emissions and is sulfur free. Also, it is cheaper than marine fuel which will be cost effective. These are the factors which will anticipate the growth of market in forecasted period. For instance, in April 2019, Celanese Corporation partnered with Mitsui & Co., increasing the capacity of methanol production at its Clear Lake Facility, thereby manufacturing to an annual production of 1.7 million tons. However, use of ethanol in fuel and bioethanol as alternative may impede market growth over the forecast period of 2021-2027.
Global Methanol market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is a significant region across the world in terms of market share due to increasing use of ethanol in construction and electronics in Japan, China and India. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to government initiatives in converting waste to green ethanol in the region.
Major market player included in this report are:
Zagros Petrochemical Company
Mitsui & Co. Ltd.
Petroliam Nasional Berhad (PETRONAS)
Saudi Arabia Basic Industries Corporation (SABIC)
Mitsubishi Gas Chemical Co., Inc.
Valero Marketing & Supply Company
Qatar Fuel Additives Company Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-use Industry:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year 2018, 2019
Base year 2020
Forecast period 2021 to 2027.
Target Audience of the Global Methanol Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers