KEY FINDINGS The North America methanol market is anticipated to register a CAGR of 5.16% over the forecast period of 2019-2027. The shale gas boom in the region has raised the demand for methanol in the North American region.
MARKET INSIGHTS Vendors situated in North America are adopting strategies like plant relocation, capacity restarts, and Greenfield projects to expand the methanol market in countries like the US and Canada.The demand for methanol derivatives such as formaldehyde is primarily stemming from the automotive, construction, and furniture industries in these countries.
However, factors like fluctuating methanol prices and government regulations and policies are challenging the market growth.
COMPETITIVE INSIGHTS Major methanol producing companies are Qatar Fuel Additives Company Limited, Mitsui & Co., Ltd., Zagros Petrochemical Company (ZPC), Mitsubishi Chemicals, Saudi Basic Industries Corporation, Teijin, Methanex Corporation, Valero Marketing and Supply Company, Celanese Corporation, Petroliam Nasional Berhad (Petronas), Methanol Holdings (Trinidad) Limited (MHTL), and BASF AG.
Companies mentioned 1. BASF AG 2. CELANESE CORPORATION 3. QATAR FUEL ADDITIVES COMPANY LIMITED 4. METHANOL HOLDINGS (TRINIDAD) LIMITED (MHTL) 5. METHANEX CORPORATION 6. MITSUBISHI CHEMICALS 7. MITSUI & CO., LTD. 8. PETROLIAM NASIONAL BERHAD (PETRONAS) 9. SAUDI BASIC INDUSTRIES CORPORATION 10. TEIJIN 11. VALERO MARKETING AND SUPPLY COMPANY 12. ZAGROS PETROCHEMICAL COMPANY (ZPC)
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