Methanol Market | Key players operating in the market include Methanex Corp, HELM Proman Methanol AG, SABIC, Yanzhou Coal Mining, Zagros Petrochemical Company

According to recent market research "Methanol Market by Feedstock (Natural Gas, Coal), Derivative (Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA, Acetic Acid, DME, Biodiesel), Sub-Derivative, End-use Industry, and Region (North America, APAC, Europe, South America, MEA) - Global Forecasts to 2026", size is expected to grow from USD 30.7 billion in 2021 to USD 36.3 billion by 2026, at a CAGR of 3.4% during the forecast period. Methanol are used across industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles) and Solvents. In the methanol market, automotive is the key end-use industry owing to the wide applications of these methanol.

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Coal is estimated to account for the fastest growth in the methanol feedstock segment from 2021 to 2026. Coal is considered to be the sustainable alternative raw material for large-scale methanol production which is one the important reason for the increase in demand of coal as feedstock of methanol.

Methanol-to-olefins/methanol-to-propylene (MTO/MTP) is estimated to account for the fastest growth in the methanol derivatives segment from 2021 to 2026. The growth is due to the rise in MTO/CTO plants in China to produce olefins through methanol, as the demand for olefins is growing in the petrochemical industry. The growing demand for methanol is highly attributed to its increasing demand in the automotive and construction end-use industries.

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The global methanol market is anticipated to grow from USD 30.7 billion in 2021 to USD 36.3 billion by 2026, at a CAGR of 3.4% from 2021 to 2026. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of methanol ranging from automotive to the pharmaceutical industry. Increasing demand from Asia Pacific will further drive the growth of the global methanol market.

Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia), Yanzhou Coal Mining Co. (China), Zagros Petrochemical Company (ZPC) (Iran), Celanese Corporation (Texas), BASF SE (Germany), and PETRONAS (Malaysia), Mitsubishi Gas Chemical Company Inc. (Japan), Mitsui & Co., Ltd. (Japan),), LyondellBasell Industries B.V. (U.S), OCI N.V. (Netherlands), Metafrax Chemicals (Russia), SIPCHEM (Saudi Arabia) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.

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HELM Proman Methanol AG engages in production and supply of methanol around the world. The company has an annual installed production capacity more than 10 million metric tons. The company operates in several countries spread across Europe, America, Asia, and Africa. In March 2021, HELM AG, Proman and Southern Chemical Corporation (SCC) announced a significant restructuring of its regional methanol marketing activities to establish the global joint venture HELM Proman Methanol AG. At 57% HELM AG will hold a majority stake in the joint venture, while Proman will hold 38% and Jan W. Spin, CEO and shareholder of SCC, will hold 5%. This joint venture will expand their market share in the methanol in upcoming years.

SABIC is the third-largest player in the methanol market. SABIC engages in the manufacture, marketing and distribution of petrochemicals, polymers and plastics, agricultural nutrients. The company has a global presence in more than 100 countries with 68 manufacturing sites and 20 technology and centers with a patent portfolio of 9,946. In March 2019, the company acquired OCI’s methanol assets that solidify its status as one of the world’s biggest chemical producers. SABIC made an approach that valued OCI’s assets, including plants in Texas and the Netherlands, at about USD 4 billion.

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