Methanol Market Size, Share, Growth and Forecast to 2030

1. Methanol Market Size, Share, Growth and Forecast to 2030 1 ©P&SIntelligence.Allrightsreserved

2. A large volume of methanol is used in the production of formaldehyde, solvent, acetic acid, meth tert-butyl ether/Tert-amyl methyl ether (MTBE/TAME), methanol-to-olefins/methanol-to-propylene (MTO/MTP), dimethyl terephthalate (DMT), methyl methacrylate (MMA), and dimethyl ether (DME). These petrochemical products are being increasingly used in the automotive and construction industries. Therefore, the increasing construction activities and the flourishing automobile industry, owing to the soaring disposable income of people and accelerating urbanization rate, will create a huge requirement for methanol in the upcoming years. Moreover, the mounting demand for methanol-based fuel as alternative automobile fuel, owing to the rising consciousness about increasing air pollution levels, will steer the methanol market growth during 2021–2030. According to P&S Intelligence, the market generated revenue of around $20 billion in 2020. As per the World Health Organization (WHO), air pollution causes around 7 million deaths worldwide every year. This international organization further estimates that 9 out of 10 individuals breathe air that exceeds WHO limits on pollutant content in the air. Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/methanol- market/report-sample Nowadays, methanol manufacturers are focusing on developing new and sustainable production methods of methanol, as it is mostly produced through coal and natural gas, which are depleting at a rapid rate. Additionally, the toxic nature of byproducts obtained from coal burning also encourages manufacturers to focus on research and development (R&D) of efficient and sustainable methods for manufacturing methanol from biogas and biomass. Thus, the escalating public focus on environmentally friendly products will encourage manufacturers to develop new and sustainable methods. In recent years, methanol manufacturers, such as Methanex Corporation, OCI N.V., Celanese Corporation, Mitsubishi Gas Chemical Company Inc., QAFAC, Petroliam Nasional Berhad (PETRONAS), OQ SAOC, LyondellBasell Industries N.V., BASF SE, and SABIC, are emphasizing on facility expansion to promote R&D activities, increase production capacity, and reach out to a greater number of customers. For instance, in June 2020, Assam Petro-Chemicals Limited (APL) announced its plan to expand its methanol production capacity to 500 tons per day. Methanol produced by using feedstock, such as coal, natural gas, heavy liquid, and coking gas, is used in the automotive, packaging, chemical, electronics, construction, pharmaceutical, and paint & coating industries. These industries prefer natural gas-based methanol over other variants due to the smooth and environmentally friendly manufacturing process of the compound from natural gas. Production of methanol through natural gas occurs at low temperature and pressure, owing to which manufacturers are preferring this feedstock over others.

3. Geographically, Asia-Pacific (APC) will lead the methanol market in the foreseeable future, owing to the expanding petrochemical industry in the region. Petrochemical companies use methanol in the production of DME, acetic acid, and formaldehyde. In addition, the burgeoning demand for methanol-based fuel in Japan, China, and India will also accelerate the consumption of this chemical in the region. Besides, the booming electronics industry, increasing construction activities, and mushrooming automobile production will also propel the usage of methanol in APAC. Browse full report at: https://www.psmarketresearch.com/market- analysis/methanol-market Thus, the increasing demand for petrochemicals from the construction and automotive industries and the rising public demand for methanol-based fuel will facilitate the usage of methanol, globally. Market Size Breakdown by Segments B By y Feedstock Feedstock Natural Gas Coal Coking Gas Heavy Liquid B By y Application Application Formaldehyde Acetic Acid Gasoline Methanol-to-Olefins/Methanol-to-Propylene (MTO/MTP) Meth Tert-Butyl Ether/Tert-Amyl Methyl Ether (MTBE/TAME) Dimethyl Terephthalate (DMT) Dimethyl Ether (DME) Methyl Methacrylate (MMA) Biodiesel Solvent B By y Industry Industry Automotive Construction Chemical Electronics Paint & Coating Pharmaceutical Packaging B By Region y Region North America • • • • • • • • • • • • • • • • • • • • • • oU.S. oCanada

4. Europe • oGermany oFrance oU.K. oItaly oSpain Asia-Pacific (APAC) • oJapan oChina oIndia oAustralia oSouth Korea Latin America (LATAM) • oBrazil oMexico Middle East and Africa (MEA) • oSaudi Arabia oSouth Africa 3 © P&S Intelligence. All rights reserved

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