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Methanol Market report categorizes global market by feedstock type, application, and end use industries - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Methanol Market - Global Industry Insights, Trends,
Outlook, and Opportunity Analysis, 2018-2026
Methanol is a liquid which is manufactured mostly through oxidization of
methane or through synthesis of carbon monoxide and hydrogen. Methanol is
termed as wood alcohol since it depicts properties similar to conventional fuels.
Methanol is chiefly utilized as a fuel in vehicles as well as an antifreeze solution
in automobiles. It is also used as a feedstock for manufacturing various products
such as formaldehyde, acetic acid, MTBE, DME, and others. It is used widely in
numerous other industrial applications. It is a volatile, colorless, toxic, and
flammable liquid. Globally, methanol is produced at around 90 methanol plants.
Most of these methanol plants are located in Asia Pacific, Latin America, North
America and others.
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Future Outlook of Methanol Market
Globally, various mixtures of methanol are being utilized as alternative fuel
source for vehicles and other applications. This trend is expected to boost the
demand for methanol. Derivatives of methanol are widely used for various
industrial applications and processes which are expected to boost the demand
for methanol in these industries. Applications such olefins, DME, and gasoline
blending provide huge growth opportunities for methanol market. Regions such
Middle East and Africa and Latin America have also boosted the production of
methanol owing to easy availability and low cost of natural gas in these regions.
Production of methanol in North America has also increased owing to shale gas
boom in the region. Production cost of methanol in North America has become
competitive owing to these factors.
Excess supply of methanol in the market and improved safety factors are
expected to further drive the demand for methanol owing its low cost of
production. Additionally, growing demand for biofuels and strict emissions
norms are expected to further drive the demand for methanol across the globe
during the forecast period. Asia Pacific is expected to be the leading market for
methanol during the forecast period owing to high demand from countries such
as China, India, Japan, and others.
Market Share Strategies
The major players dominate the production and supply of methanol across the
globe. The leading players are striving to improve and hold major share of the
global methanol market. Various production and supply chain strategies are
adopted by companies to improve market positioning. Some of the leading
players operating in the global methanol market include BASF SE, Celanese
Corporation, Methanex Corporation, Methanol Holdings (Trinidad) Limited
(MHTL), Mitsubishi Gas Chemical Co., Inc. (MGC), Mitsui & Co., Ltd.,
Petroliam Nasional Berhad (Petronas), SABIC, Valero Marketing and Supply
Company, and Zagros Petrochemical Company (ZPC), among others.
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