According to the latest report by IMARC Group titled, “Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, The global methanol market was worth US$ 24.7 Billion in 2018, registering a CAGR of 7.7% during 2011-2018. Looking forward, IMARC expects the global methnaol market is expected to reach a value of US$ 48.3 Billion by 2024, expanding at a CAGR of 11.1% during the forecast period (2019-2024)..

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Methanol, also known as methyl alcohol and wood alcohol, is an organic compound that occurs in the form of a clear, flammable and volatile liquid. With the chemical formula CH3OH, methyl alcohol is mainly obtained from the destructive distillation of wood and by synthesizing carbon monoxide and hydrogen. Methanol is primarily used for manufacturing other chemical intermediates that are further utilized in the production of foams, plastics, polyester, resins, paints, building materials and various health and pharmaceutical products.

Over the years, the rapid depletion of crude oil reserves has prompted the exploration and development of alternative transportation fuels. Methanol acts as a biofuel and can be used in the replacement of gasoline as it has a very high-octane number. Furthermore, there has been an escalation in the overall production volume of MTO/MTP, the fastest-growing derivative of methanol. This product caters to the rising demand for petrochemicals. Also, as compared to other fuels, the production of methanol is being promoted across the globe as it has a lower risk of flammability, is cheaper to produce and can be manufactured with different carbon-based feedstock, such as natural gas and coal.

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Breakup by Application:

Formaldehyde
Dimethyl ether
Gasoline
Chloromethane
MTBE/TAME
Acetic acid
Others
Formaldehyde is the largest application segment as it is largely used for the manufacturing of plywood, plastics and paints. Moreover, it is also used as a fuel on account of its remarkable blending attributes.

Regional Insights:

China
Asia-Pacific (excluding China)
Europe
North America
Latin America
Middle East and Africa
On the geographical front, China enjoys the leading position in the global market on account of growing demand for methanol-gasoline blends in the region.

Competitive Landscape:

The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market.

Key highlights of the report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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