Methanol Market Size – USD 31.76 billion in 2018, Market Growth - CAGR of 2.6%, Market Trends – Increasing acceptance of MTO process
New York, NY -- (SBWIRE) -- 05/06/2021 -- Growing demand for methanol-based bio-fuel is one of the significant factors influencing market growth.
Market Size – USD 31.76 billion in 2018, Market Growth - CAGR of 2.6%, Market Trends – Increasing acceptance of MTO process
The global Methanol Market is expected to reach USD 40.50 Billion by 2027, according to a new report by Reports and Data. Methanol is used as an alternative fuel for transportation, owing to its ease of distribution and availability, and combustion-efficiency across the globe. It is a high octane fuel that allows effective performance in internal combustion (IC) engines. Engines optimized for methanol-fuel could deliver an energy-efficiency gain of around 50.0% over a standard gasoline engine in a light-duty automobile. Moreover, it can be used in IC engines as a substitute for diesel fuels. It has been found that Heavy-duty dual-fuel engines functioning on diesel and methanol fuels can enhance efficiency and substantially reduce emissions for buses, trucks, and off-road vehicles.
Growing acceptance of methanol-to-olefins (MTO) process is expected to drive the market growth in the upcoming years. MTO is an essential reaction for both industrial applications and fundamental research. Propylene and ethylene are among the significant intermediates used in the petrochemical industry. Worldwide, these intermediates are produced primarily by steam cracking of hydrocarbons, including naphtha, ethane, and propane. The MTO process is a substitute method to produce these olefins from methanol feedstock that can be derived from raw materials, including natural gas or coal.
Key participants include SABIC, LyondellBasell Industries Holdings BV, Methanex Corporation, PETRONAS, Methanol Holdings Limited, BASF SE, Celanese Corporation, Mitsubishi Gas Chemical Company Inc., Mitsui & Co. Ltd., and Enerkem, among others.
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Further key findings from the report suggest
- By type, non-renewable methanol dominated the market in 2018 and is estimated to grow at a rate of 2.4% in the forecast period. Methanol is a vital and versatile chemical for the chemical industry, primarily used in the production of chemicals, including solvents and anti-freezes, additives for gasoline, or biodiesel production process.
- By feedstock, natural gas contributed to a larger market share in the forecast period and is likely to grow at a rate of 2.7% in the forecast period.
- By application, formaldehyde accounted for the largest market share in 2018 and is anticipated to witness a growth rate of 2.3% in the period 2019-2027. It is an essential used in plywood for home construction, window/door insulation for modern airliners, and fuel system components for automobiles. Formaldehyde offers superior utility for consumers in the form of consistent quality, extended use, and reliable performance & safety.
- By industry vertical, the automotive industry dominated the market in 2018 and is expected to witness a CAGR of 2.5% in the forecast period.
- The market in the Asia Pacific region held the largest market share in 2018 and is likely to experience a growth rate of 3.0% in the period 2019-2027. The market dominance of the APAC is attributed to the surging demand for methanol and its derivatives from the end-user industries in the region.
To identify the key trends in the industry, click on the link below: @ https://www.reportsanddata.com/report-detail/methanol-market
For the purpose of this report, Reports and Data have segmented the global methanol market on the basis of disease type, feedstock, application, industry vertical, and region:
Type Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
No-Renewable Methanol
Renewable Methanol
Feedstock Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Coal
Natural Gas
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Formaldehyde
Acetic Acid
Methyl Tert-Butyl Ether (MTBE)
Dimethyl Ether (DME)
Fuel Blending
Olefins
Biodiesel
Others
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Automotive
Construction
Electronics
Paints & Coatings
Others
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Methanol Segmentation & Impact Analysis
4.1. Methanol Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for methanol-based biofuel
4.2.2.2. Increasing acceptance of MTO process
4.2.3. Market restraints analysis
4.2.3.1. Hazardous effect on human health
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
....
Chapter 10. Competitive Landscape
10.1. Market Revenue Share by Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
11.1. SABIC
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. LyondellBasell Industries Holdings BV
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. Methanex Corporation
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. PETRONAS
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Methanol Holdings Limited
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
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