According to IMARC Group’s latest report, titled “Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 32.7 Billion in 2021. Methanol refers to a light, colorless, and volatile liquid alcohol with a distinctive odor. It comprises of a methyl group linked with a hydroxy group. Methanol is produced by directly combining carbon monoxide gas and hydrogen in the presence of a catalyst. It has a low rate of evaporation and radiant heat energy however is also miscible in numerous solvents, such as water, alcohol, ether, ketones, etc. Apart from this, methanol is widely utilized as a general solvent to produce resins, pharmaceuticals, perfumes, etc.
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The rising use of methanol in the automotive industry as a transportation fuel and antifreeze agent for automobile radiators is one of the key factors driving the methanol market. In line with this, the increasing utilization of methanol in the manufacturing of Dimethyl Ether (DME) and Methyl Tert-Butyl Ether (MTBE), which are safer alternatives to traditional gasoline, is further augmenting the market growth. Moreover, the expanding applications of methanol in the manufacturing of formaldehyde, acetic acid, methyl acetate, etc., are also catalyzing the product demand. Besides this, the expanding adoption of methanol in the production of adhesives, paints, plywood, solvents, foams, plastic, etc., is propelling the market growth. Additionally, the growing preferences of methanol over counterparts, such as crude oil, gasoline, diesel, etc., on account of the convenient biodegradation are anticipated to bolster the market in the coming years. Looking forward, IMARC Group expects the global methanol market to reach US$ 44.7 Billion by 2027, exhibiting a CAGR of 5.3% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The essential aspects of the methanol market evaluated in the report include:
- Market trends
- Major regions
- Key application areas
- Key manufacturers
- Price trends
- Raw material requirements
- Chemical reactions involved in the manufacturing process
- Major importers and exporters
- Value chain analysis
- Market trends for major feedstocks
- Price trends for major feedstocks
- Key regions for major feedstocks
- Key application areas for major feedstocks
Breakup by Application:
- Dimethyl ether
- Acetic acid
- Asia-Pacific (excluding China)
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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