Methanol Market to Hit USD 58.13 Billion at a growth rate of 5.53 percent - Says Maximize Market Research

PUNE, India, July 10, 2024 /PRNewswire/ -- Maximize Market Research, a Material and Chemical business research firm, has published a report on the "Methanol Market". The total market opportunity for the Methanol Market was USD 39.87 Bn in 2023 and is expected to grow at 5.53 percent CAGR through the forecast period by reaching nearly USD 58.13 Bn by 2030.

Methanol Market Scope and Research Methodology

The report provides an in-depth analysis of the strategies of the top players in the Methanol industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Methanol Market report. It also includes figures for consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor's guide.

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Methanol Market Overview

Methanol is a light, volatile, colorless, and flammable liquid with a distinctive alcoholic odor. The methanol market plays an important role in the global chemical industry. The market is based on the production, consumption, and trade of methanol which is being used in various sectors. The growth of the methanol market is attributed to its diverse applications across various industries.

Competitive Landscape

The methanol market is competitive with numerous key players in the market including Atlantic Methanol Production Company, Eastman Chemical Company, Methanex Corporation, and Mitsubishi Gas Chemical Co., Inc. among others.

Key Player Offerings:

• To maximize the Egyptian petrochemical industry and grow the distribution network Methanex Egypt partnered with Suez Methanol Derivatives (SMD) Company. Methanex Egypt sees its role as essential in maximizing the value of Egypt's oil and gas resources, aligned with the Ministry of Petroleum and Mineral Resources' vision.
• Celanese Corporation has begun running a carbon capture and utilization (CCU) project as part of its Fairway Methanol joint venture with Mitsui & Co., Ltd in which CO2 emitted in the atmosphere is chemically converted into a methanol building block used for downstream production offering the customers a wider range of lower-carbon footprint products.

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What's New: Recent Additions and Updates

• An in-depth analysis of recent developments in the methanol industry, covering the use of carbon capture integration and innovative catalytic processes to decrease environmental impact.
• Insights into new uses for methanol that highlight its versatility and growing demand, such as in fuel cells, methanol-to-olefins (MTO) processes, and as a marine fuel.
• A thorough analysis of the costs and benefits of using methanol as a fuel substitute, with a focus on long-term profitability and comparisons with other biofuels and conventional fossil fuels.

Methanol Market Dynamics

The growth in the demand for hydrogen fuel cells has been driving the methanol market as it is a good hydrogen carrier and packs more hydrogen in only one alcohol molecule that is found within the hydrogen. Also, methanol is liquid at ambient conditions; it is easily handled, stored, and transported using existing infrastructure supporting global trade. In addition, methanol reforms to generate hydrogen on demand, avoid complexity, and high costs related to logistics making methanol a choice for hydrogen fuel cells.

Methanol Market Regional Insights

Asia Pacific has been the dominant region in the global methanol market, China particularly being the prominent manufacturer of methanol products. The country has increased the pace of the commercialization of methanol vehicles and leads the world in terms of scale and technology. In addition, the demand for methanol has been increasing as a low-emission fuel option that helps in achieving low carbon emissions. As per the MMR study, India is expected to play a major role in the methanol market as the use of biomass, high-ash coal, and stranded gas is expected to increase methanol production up to 20MT per year by 2025.

Methanol Market Segmentation

By Feedstock    

• Coal
• Natural Gas
• Others

By Derivatives  

• Gasoline
• MTO/MTP
• Formaldehyde
• Others

By End-User      

• Construction
• Automotive
• Electronics
• Others

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Key questions answered in the Methanol Market report are:

• What is methanol?
• Which market segment held the largest share of the global Methanol market in 2023?
• What are the global trends in the Methanol Market?
• What are the upcoming industry applications for the Methanol Market?
• How can investors capitalize on the opportunities in the Methanol Market?
• What growth strategies are the players considering to increase their presence in the Methanol Market?
• What are the major challenges that the Methanol Market could face in the future?

Key Highlights:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by Different Segment | 2024−2030
• Methanol Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Methanol Market Segmentation – A detailed analysis by Feedstock, Derivatives, End-User and Region
• Competitive Landscape – Profiles of selected key players by region in a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Material and Chemical research firm, has also published the following reports:

Global Boron Trifluoride-Methanol Complex Market: The market is expected to reach US$ 356 Mn. by 2027, at a CAGR of 5.2%, with Asia Pacific being the dominant region in the market.

Direct Methanol Fuel Cells Market: The market was valued at US$ 240.58 Mn. in 2022 and the total revenue is expected to grow at 12.9% from 2023 to 2029, reaching US$ 562.51 Mn.

Biochemical Market: The market size was valued at USD 90.39 Bn in 2023 and is expected to reach USD 154.92 Bn by 2030, at a CAGR of 8 %.

Steam Methane Reforming Hydrogen Generation Market: The market size was valued at USD 133 Bn in 2022 and Steam methane reforming hydrogen generation Market revenue is expected to reach USD 201.3 Bn by 2029, at a CAGR of 6.1 % over the forecast period.

Chloromethane Market: The market size was valued at USD 5.44 Billion in 2023 and the total Chloromethane Market revenue is expected to grow at a CAGR of 5.2 % from 2024 to 2030, reaching nearly USD7.76 Billion.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.

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