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Methanol Market - The Biggest Trends to Watch out for 2022-2028

06-01-2022 12:54 PM CET | Energy & Environment

Press release from: The Insight Partners

Methanol Market

Methanol Market

Methanol is an essential material in chemical synthesis. Its derivatives are utilized in significant quantities to build up multiple compounds, including synthetic dyestuffs, pharmaceuticals, resins, and perfumes. It is also used in automotive antifreeze, rocket fuels, and general solvent. Besides, methanol is a clean-burning fuel, a potentially noteworthy substitute for gasoline in automotive vehicles.

The methanol market is projected to reach US$ 41,974.76 million by 2028 from US$ 28,114.27 million in 2021; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.

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Methanol is used as feedstock for manufacturing various construction-related materials such as plastic pipes, paints and coatings, carpet underlay, wood panels, and crane ropes. Moreover, formaldehyde-based resins, one of the methanol's derivatives, are widely used to manufacture composite and engineered wood products used in cabinetry, countertops, moldings, shelving, stair systems, flooring, wall sheathing, support beams, and trusses.

Also, glue adhesives used as bonding agents for building blocks are made of formaldehyde-based chemistry. In addition, methanol is used as a solvent for paints and varnishes as it is easily dissolvable compared to ethanol. Hence, methanol and its derivates are extensively used while producing a range of building construction-related materials. Rapidly growing building constructions in developing and developed economies are increasing the demand for building construction-related materials. As per the National Bureau of Statistics of China, the country's real estate development witnessed 38.3% growth from January to April 2021 compared to the same months in 2020. The country's real estate industry estimated around 1 trillion investments in construction activities in 2021.

Based on derivative, the methanol market is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO) / methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. The formaldehyde segment held the largest market share in 2020. The growth of the market for this segment is attributed to the extensive application of formaldehyde resins in the automotive sector. Moreover, formaldehyde finds its application as a preservative in food, cosmetics, and medicines. Consequently, owing to the broad application scope of formaldehyde, the segment is anticipated to witness massive demand from numerous industries during the projection period.

Leading Companies:

Methanex Corporation
OCI N.V.
BASF SE
SABIC
Mitsubishi Gas Chemical Company, Inc.
HELM AG
Cleanse Corporation
Zagros Petrochemical Company
Mitsui & Co., LTD
LYONDELLBASELL INDUSTRIES HOLDINGS B.V

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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