Methanol Market is forecasted to Reach a value of US$ 60.4 Bn by the end of 2031

Methanol Market 2022-2031

The global methanol market is anticipated to witness a growth rate of around 5.9% over the decade. Methanol is used to make a variety of compounds. It is vital in the production of chemicals that are widely used in end-use sectors such as automobiles, pharmaceuticals, and others.

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Methanol is also known as wood alcohol, wood spirit, or methyl alcohol. It contains the methyl group linked with the hydroxy group. It is formerly manufactured by destructive distillation of wood, and is a primary alcohol. It is also considered as the building block for hundreds of everyday materials, including construction materials, paints, and plastics.

The methanol market is not a standalone industry but rather depends upon several end-use sectors. Growth of end-use industries directly impacts the growth of this market. Over the past few decades, growth of automotive, chemical, and construction industries has contributed significantly to the growth of the market.

As a result of widespread lockdowns and transportation restrictions, the COVID-19 pandemic had a substantial effect on market growth in 2020. The crisis had a substantial impact on world economy due to lockdowns and suspension of critical businesses such as manufacturing and service industries. However, industrial activity and economic growth is projected to return back to desirable growth over the coming months and years. Methanol demand is anticipated to witness a certain rise owing to its high demand from various end-use industries.

Key Players:

The report has profiled some of the important players prevalent in the global like - SABIC, BASF SE, MITSUBISHI GAS CHEMICAL COMPANY, INC., Mitsui & Co., Ltd., BioMCN, Celanese Corporation, Petroliam Nasional Berhad (PETRONAS), Metafrax Group, Saudi International Petrochemical Company (Sipchem), Methanol Chemicals Company (Chemanol, Deepak Fertilizers and Petrochemicals Corporation Limited, Qatar Fuel Additives Company, Gujarat Narmada Valley Fertilisers & Chemicals, Anhui Ruibai New Material Co., Ltd., Brunei Methanol Company Sdn. Bhd., Zagros Petrochemical Company, UCP Chemicals AG and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Methanol Market.                                

Key Takeaways from Market Study

Global demand for methanol is forecasted to reach a value of US$ 60.4 Bn by the end of 2031.

China is anticipated to remain one of the key markets for methanol, accounting for around 47.9% share in 2021.

The formaldehyde segment is anticipated to witness a CAGR of 6.7% over the decade.

The U.S. market is expected to expand at a significant growth rate of 5.3% through 2031.

By end-use industry, the chemicals segment is set to remain a key sector and account for more than 55% market share in 2021.
"Key market players are focusing on heavy investments in R&D along with expansions, acquisitions, capacity expansions," says a Persistence Market Research analyst.

Key market participants are expected to maintain a competitive environment across the world. Market participants are focusing on expansion through acquisitions, collaborations, and by entering into emerging economies. Key market players are investing in R&D to introduce new products into the market.

In March 2021, Fairway Methanol LLC, is a joint venture between Mitsui & Co. Ltd and Celanese Corporation, announced the expansion of its facilities to increase its methanol production.
Conclusion

The global methanol market is projected to witness a significant growth rate owing to growing construction, chemical, and pharma sectors, and increasing per capita expenditure.

Rising urbanization is boosting construction, pharma, automobile, and electronics industries, which expected to drive demand for methanol over the coming years. Rise in automobile production along with expansion of manufacturing industries are major driving factors for market growth.

Numerous industry participants are focusing on expansions and partnerships to increase their global footprint. Key players are also increasing their investments in R&D and expanding their production facilities to cater growing demand from end users.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Methanol Market Manufacturers 
Methanol Market Distributors/Traders/Wholesalers 
Methanol Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Methanol Market - Report Highlights

A detailed overview of parent market of Methanol Market
Changing Methanol Market dynamics in the industry
In-depth segmentation of the Methanol Market
Historical, current, and projected Methanol Market size regarding volume and value
Recent industry trends and developments in Methanol Market
Competitive landscape of the Methanol Market
Strategies for key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Methanol Market performance
Must-have information for Methanol Market players to sustain and enhance their market footprint                                             

Key Questions Answered in the Methanol Market Report

How is the Methanol Market expected to grow over the projected period?

What direction is the Methanol Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Methanol Market in future?

What are the key market drivers in the Methanol Market?

What are significant opportunities and improvement areas for Methanol Market manufacturers?

What are the key developments and trends taking over the Methanol Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Methanol Market?  

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