Market overview:
The global methanol market size was estimated at US$ 38.81 billion in 2020 and is expected to grow at an average rate of 2.9% from 2020 to 2025.

Methanol is widely used in various industries, either directly or as a raw material for the production of liquid fuels, chemicals and plastics. The demand for biofuels has increased with the introduction of new regulations and policies to control the emission of harmful gases. This led to the study of innovative methods that are energy-efficient, ecological and low cost.

Recent developments:
In November 2018, Methanex Corporation and Painted Pony Energy, Ltd. announced that they had signed a 14-year contract to supply most of the natural gas needed for the current Methanex 600,000-ton methanol plant in Medicine Hat, Alberta.

In July 2016, Methanex Chile SpA, a subsidiary of Methanex Corporation, signed a gas supply contract with the National Petroleum Company until May 2018.

Market Drivers and Restraints:
The increase in methanol consumption for the production of dimethyl ether and methyl tert-butyl ether (MTBE), which is used as an alternative to gasoline, is expected to promote growth. DME is used as fuel in cars and aerosol propellants and is mixed with liquefied natural gas (LNG). Methanol is widely used to make biodiesel, which is biodegradable, safe and contains fewer air pollutants than other fuels.

The main challenge for the growth of the global methanol market is the high cost of converting methane into liquid. These restrictions are hampering the application of methanol in a wide range of industries. However, it is believed that the continued demand for biofuels and biodiesel in several automotive industries will help overcome some challenges soon.

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Report Segmented as:
Formaldehyde dominated the application segment, with 24.3% of the total volume in 2019. Formaldehyde resins are used on a large scale to manufacture interior molded parts of vehicles to reduce weight and increase fuel efficiency. Methanol is widely used for the esterification of acetic acid. The most common production process for acetic acid includes the rhodium-catalyzed carbonylation process.

Geographical Segmentation:
Asia-Pacific excluding Japan (APEJ) will emerge as one of the largest regions in the global methanol market for 2017-2026. The Chinese government has implemented fuel mixing standards and various programs to encourage methanol to be used as fuel. Some European countries are moving towards the use of gasoline mixed with small amounts of methanol. Meanwhile, other countries, such as Israel and Australia, have already completed marketing to support methanol fuel.

Key market players:
The main players in the market are Zagros Petrochemical Company. BASF Mitsui and company; Qatar Fuel Additives Company Limited; Petroliam Nasional Berhad; Celanese Corporation; Corporation of the Basic Industry of Saudi Arabia (SABIC); Valero marketing and supply company; Methanex Corporation; Mitsubishi Gas Chemical Co., Ltd.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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