Methanol Market Report Covers Detailed Industry Scope, Future Scenario and Outlook to 2028

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.
Methyl alcohol, commonly referred to as methanol, is the most basic alcohol in a series of alcohols. It is produced by the direct reaction of carbon monoxide gas and hydrogen in the existence of a catalyst. Methanol finds application in manufacturing various products like adhesives, paints, coatings, wood panels, fuel systems, brake pads, cosmetics, furniture, and cabinets, among others. It also produces carpet underlay, paper towels, and carpeting.

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Companies Profiled in this report includes:

• 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

The global methanol market is categorized based on its derivatives, including 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. Among these segments, formaldehyde is expected to exhibit the most elevated Compound Annual Growth Rate (CAGR) during the forecast period. Formaldehyde is a poisonous, colorless gas produced by oxidizing methanol. It has broad applications in laboratories as an antiseptic, disinfectant, and chemical reagent. The pharmaceutical industry extensively uses formaldehyde to produce vaccines, anti-infective drugs, and hard-gel capsules. Formaldehyde is also used as a preservative in cosmetics, medicines, and food.

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Methanol Market Segmentation:

By Derivative:
• 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)
• Methyl methacrylate (MMA)

By End-Use:
• Automotive
• Construction
• Electronics
• Packaging
• Pharmaceuticals

The methanol market is geographically segmented into North America, Europe, Asia Pacific, South and Central America, and the Middle East & Africa. In 2020, the Asia Pacific region held the largest market share due to increased petrochemical production in the area. China leads in global methanol consumption, with a significant increase in its use in fuel products. The compound is extensively used for large-scale petrochemical production, and the growing demand for petrochemicals is boosting the methanol market in this region. Additionally, the use of petrochemicals in industries like construction and automotive is the main factor driving the methanol market growth.

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