Methanol Market worth $38.0 billion by 2028 | Key players Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia).

According to recent market research the "Methanol Market by Feedstock (Natural Gas, Coal), Derivative (Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA, Acetic Acid, DME, Biodiesel), Sub-Derivative, End-use Industry (Automotive, Construction, Electronics), and Region - Global Forecasts to 2028", size is expected to grow from USD 30.9 billion in 2023 to USD 38.0 billion by 2028, at a CAGR of 4.2% during the forecast period. Methanol is used in various industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), Solvents, among others.

Browse 656 market data Tables and 60 Figures spread through 487 Pages and in-depth TOC on "Methanol Market - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/methanol-market-425.html

The coal segment, by feedstock, market accounts for the fastest growth. Many countries are shifting towards coal feedstock due to high prices and limited reserves of natural gas in certain areas. For the manufacturing methanol from coal, it is mixed with air separator O2 and then put through coal gasification to create crude syngas. Methanol manufacturing using coal as a feedstock is a carbon-intensive process that can produce a lot of greenhouse gas emissions. Utilizing cleaner and more environmentally friendly feedstocks for the manufacturing of methanol has received increased attention in recent years to reduce environmental impact.

The MTO/MTP segment, by derivative, market accounts for the fastest growth. 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 chemical industry has paid close attention to the MTO and MTP processes because they offer an alternate method of producing olefins from non-petroleum feedstocks like methanol. The growing demand for methanol is highly attributed to its increasing demand in the automotive and construction end-use industries.

The olefins segment, by sub derivative, market accounts for the fastest growth. The growth is due to an increase in production of methanol and high feedstock availability. Methanol is alternative source to produce light olefins which is currently high in demand in various applications. Olefins are essential raw materials for the manufacturing of various plastics, synthetic fibres, rubber, and other petrochemical goods, with ethylene and propylene playing a particularly important role. Olefin production from methanol offers an alternative feedstock method, hence diversifying the sources of these important chemical building blocks.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=425

The solvent segment, by end-use industry, market accounts for the fastest growth. This growth is due to the huge demand from the various end-use industries. Methanol is used as a laboratory solvent, which is useful for HPLC, UV/VIS spectroscopy, and LCMS due to its low UV cutoff. Methanol is commonly used as a solvent in industrial processes, such as those involving the production of chemicals, medications, and electronics. It is helpful for cleaning, degreasing, and extracting items since it can dissolve a wide variety of organic compounds, including oils, resins, polymers, dyes, and dye molecules. The solvent qualities of methanol make it useful in formulas for paint and coatings, printing inks, and cleaning agents.

Asia Pacific accounted for the largest share of the methanol market in 2022. Factors such as the rapidly increasing consumption of methanol in the various end-use industries in countries such as China, Japan, India, South Korea, and Australia have led to an increased demand for Methanol in the Asia Pacific region. In the Asia Pacific region, methanol use as an alternative fuel has drawn attention. There is a growing need for methanol as a fuel, particularly in transportation and power generation, and it can be used solely as fuel or combined with petrol in some situations.
Methanex Corporation (Canada), HELM Proman Methanol AG, SABIC (Saudi Arabia), Yankuang Energy Group Company Limited (China), and Zagros Petrochemical Company (ZPC) (Iran) are the leading methanol manufacturers, globally.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=425

Zagros Petrochemical Company is one of the largest methanol companies is Iran. The company manufactures methanol that is used in manufacturing formaldehyde, acetic acid, and many other products. In March 2023, Zagros Petrochemical Company signed an agreement with Dalian Petrochemical Company to construct a methanol-to-synthetic ethanol conversion plant.

SABIC engages in the manufacture, marketing and distribution of petrochemicals, polymers and plastics, and agricultural nutrients. The company is one of the key players in the methanol market and has a geographic presence in more than 100 countries. In September 2021, SABIC formed a joint venture with ExxonMobil to strengthen its petrochemical manufacturing presence in North America.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/methanol.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/methanol-market.asp

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.