Market Research Future (MRFR) studied the global methanol market 2022 across the analysis period till 2030. The gradual increase in industrial applications of methanol can promote the market in the near future. The methanol industry can surge at high CAGR to earn substantial turnover on conclusion of the forecast period. The growing utility of methanol in wealthy sectors, such as chemical and pharmaceutical, can favor the market growth. The rise in demand for methanol as transportation fuel and upscaling sales of fuel-efficient vehicles are creating numerous growth opportunities for the market, supporting the market upsurge. The growing home décor business encouraging growth of the paint industry can also add to the market rise. High cost in methanol production and technical shortfall can impede the market expansion. COVID 19 impact assessment for the menthol market is offered in the report.
The segment study of the global Methanol Market is done by derivative, feedstock, and end-use industry.
The feedstock-based segments of the methanol market are coal, natural gas, oil, and renewable resources among others. The coal segment can acquire substantial revenue for the global market by 2030.
The derivative-based segments of the menthol market are acetic acid, formaldehyde, dimethyl ether, solvents, gasoline, methanol to olefins, methyl methacrylate, and methyl tert butyl ether among others. The methyl methacrylate segment can rise with considerable CAGR by 2023.
The end-use-based segments of the methanol market are building and construction, transportation, electrical and electronics, pharmaceuticals, water treatment, and packaging, paints and coatings among others. The water treatment segment can contribute significantly to the market growth in the coming years.
Market Key Players
Celanese Corporation (US), Methanex Corporation (Canada), BASF SE (Germany), SABIC (Saudi Arabia), Mitsubishi Gas Chemical Company Inc. (Japan), Petroliam Nasional Berhad (PETRONAS), Valero Marketing and Supply Company (US), Zagros Petrochemical Company (Iran), Mitsui & Co. Ltd (Japan), Sipchem (Saudi Arabia), Solventis (UK), and Simalin Chemical Industries Limited (India) are some renowned companies in the global methanol market that are profiled by MRFR to study the expansion dynamics of the market through the review period.
Detailed Regional Analysis
In Asia Pacific, the methanol market can earn high revenue across the forecast period. The gradual increase in demand for methanol demand in the affluent automotive sector across India and other APAC regions can underpin the regional market surge. China is reputed as the automobile production hub, and the growing demand for vehicles, can add to the market expansion in the approaching future. In addition, governments are commercializing coal-based methanol for heavy commercial vehicles application, such as; buses and trucks. The gradual replacement of diesel-based solutions, instead of diesel solution, can also support the market growth.
In North America, the increase in application of methanol for water treatment facilities can support the market rise. The high utility of menthol in the denitrification process of water treatment that aid in the reduction of the volume of discharged hazardous effluents can support regional market upsurge.
Europe menthol market can expand at decent pace as the healthcare sector is observed to acquire considerable revenue.
In Latin America, the menthol market can rise at considerable pace due to rise of personal care and cosmetics industry, especially across Mexico and Brazil The upscaling requirement of cosmetics and skin care products can promote the market growth.
The methanol market in the Middle East and Africa can show considerable rise of the market in the review period owing to rapidly rise of the end-use industries, such as; building and construction, automotive, and packaging.
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