Methanol Market: Size, Share, Growth, Trends, Global Statistics and Top Key Players (Eastman Chemical, BASF, Atlantic Methanol, Celanese Corporation) | Forecasts 2018 – 2024

Methanol is the simplest form of alcohol derived from dehydration of Carbone monoxide. Methanol is a light, flammable clear liquid that consists of methyl group linked to a hydroxyl group. Methanol is also known as wood alcohol, methyl alcohol, or wood spirit.

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The methanol market is driven by rapidly growing use of methanol in the energy applications. Methanol is vastly being used for automotive fuel, marine fuel, dimethyl ether, biodiesel and among other energy applications. More than 40% of the total produced methanol is consumed by emerging energy applications. Methanol is considered as the clean-burning fuel. The growing acceptance of biodiesel as the substitute for the traditional petroleum-based fuels is likely to contribute to the growth of this market. In the formation of biofuel, methanol is used as a key component for the process called transesterification. Use of methanol as the alternative fuel improves safety, energy security with the lower production cost. In addition, the byproducts of the methanol are used in various end-use industries including construction & building, pharmaceuticals, automotive and others. Diverse applications of methanol across these industries are contributing to the growth of the methanol market.

Market Segmentation (by Derivatives)

By derivatives, the methanol market is bifurcated into gasoline, formaldehyde, acetic acid, dimethyl ether (DME) carbon fibers, biodiesel and others. Among these derivatives, gasoline and formaldehyde are expected to hold maximum market share in the Methanol market. Methanol with co-solvents used to produce alternative non-petroleum gasoline. Methanol has used for extending gasoline supplies in many gasoline markets around the world. Methanol blending in gasoline has been economical as compare to the other alcohols. In addition, the large amount of produced methanol used in the solvent and other chemical production that is anticipated to escalate the growth of methanol market.

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Market Segmentation (by End-Use Industries)

On the basis of end-user industry, the global methanol market is segmented as chemical, construction, and automotive and other. Chemical industry segment is expected to dominate the methanol market over the forecast period. In the chemical industry methanol is largely used in the manufacturing of other chemicals. It is also used as solvent, antifreeze, fuel, and denaturant for ethanol. In addition, the growing use of methanol in the automotive industry is in turns to promote the growth of the methanol market.

Regional Analysis

North America, Europe, Asia Pacific, and RoW comprise the regional segment of the global methanol market. Among these regions, Asia Pacific is the dominating and the fastest growing region in the methanol market. Rapidly growing industrialization and big chemical industry are the factors that drive the growth of the methanol market in this region. Moreover, the substantial availability of coal and natural gas in this region contributes to the growth of Asia Pacific methanol market.

North America holds considerable shares in the methanol market. According to the U.S. Department of energy, nearly 6 million gasoline gallon equivalents of 100% methanol and blends of 85% methanol and 15% gasoline were used annually in alternative fuel vehicles in the United States. The growing demand for gasoline from the various end-use industries are projected to create several growth opportunities for this market in North America, over the forecast period.

Competitive Landscape

Some of the industry players operation in the methanol market includes BASF SE, SABIC, Methanex Corporation, Mitsubishi Gas Chemical Co., Inc. (MGC), Methanol Holdings (Trinidad) Limited(MHTL), Celanese Corporation, Petroleum Nasional Berhad (Petronas), Zagros Petrochemical Company (ZPC), Mitsui & Co., Ltd., Eastman Chemical Company and Atlantic Methanol Production Company..

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