KEY FINDINGS The global methanol market is predicted to rise with a CAGR of 11.10% for the forecast period of 2018-2026. The important drivers contributing to the market growth include the growing demand from the Asia-Pacific regions, increasing acceptance for MTO technology, the need for alternative transportation fuels, etc.
MARKET INSIGHTS The global methanol market is segmented on the basis of derivatives and end-users.The derivatives can be further classified as formaldehyde, acetic acid, TAME, MTBE, gasoline, DME etc.
Formaldehyde is the most popular segment of the derivatives.The end-user industry for the market includes paints and coatings, automotive, electronics, constructions, etc.
The automotive industry currently holds the largest share of the market.The accelerated demand for bio-based products amongst these end users and the growing technological advancements for biorefining are providing the market with plenty of growth opportunities.
However, the market is expected to face some challenges concerning the fluctuating methanol prices and the various government regulations and policies related to methanol.
REGIONAL INSIGHTS The global methanol market is geographically divided into four major regions which include the Asia-Pacific, Europe, North America and the rest of the world.The Asia-Pacific market is expected to show the highest growth over the forecast period owing to the increasing application of methanol in various industries.
China, Japan and South Korea are the key markets in this region.
COMPETITIVE INSIGHTS Celanese Corporation, BASF AG, Methanex Corporation, Mitsubishi Chemicals, Methanol Holdings Trinidad Limited (MHTL),Mitsui & Co., Ltd, Saudi Basic Industries Corporation, Petroliam Nasional Berhad (Petronas), Valero Marketing and Supply Company, Teijin, and Zagros Petrochemical Company (ZPC) are some of the noted companies in the global methanol market.
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