A recent report published by Infinium Global Research on methanol market provides in-depth analysis of segments and sub-segments in global as well as regional methanol market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional methanol market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global methanol market. According to report, the global methanol market is projected to grow at a CAGR of 11.9% over the forecast period of 2018-2024.
The methanol is a light, flammable clear liquid that is produced by dehydration of Carbone monoxide. The methanol is harmful to humans as methanol is more toxic than ethanol. Among the derivatives of methanol, the demand of Formaldehyde is growing very rapidly. Formaldehyde is used in the various chemical reaction as they provide high purity and abundant uses with low cost. The methanol is mainly used in the formation of formaldehyde as well as, it also used in the formation of various solvents including acidic acid propylene and dimethyl ether which are used as anti-freezers. In addition, methanol is used as a fuel in various cars as they are capable of producing high speed but there is some restriction on the uses of methanol due to its high flammable property.
The rapidly growing use of methanol in energy applications such as automotive fuel, marine fuel, dimethyl ether, biodiesel and others is the driving the growth of methanol market worldwide. According to the Trusted source, the emerging energy application consumes 40% of total methanol. In addition, the rising demand for clean-burning fuel and fuel substitutes as biodiesel are anticipated to enhance the growth of the methanol market. Also, Methanol by-products are used in the several industrial applications including production of petrochemicals, synthesis of chemicals, automotive sector, construction & building and pharmaceuticals. The diverse applications of methanol in various industries are likely to boost the growth of the methanol market over the forecast period. However, Flammable property of methanol restricts its use in various applications which may hamper its market growth. Moreover, ongoing research and development activities on the use of methanol as an alternative to gasoline products are projected to create more opportunities in upcoming years.
Geographically, Asia-Pacific accounts for the largest share in the market of methanol. In the Asia-Pacific region, China dominates the market of methanol owing to its ongoing industrialization and the availability of coal and natural gas in China. Furthermore, North America and Europe regions are growing with the highest CAGR. The demand for methanol is rising globally, North America and the Europe regions have Unconventional supply of natural gas that boosts the market of methanol in this regions.
The report on global methanol market covers segments such as, source, derivatives and end-use industry. On the basis of source the global methanol market is categorized into natural gas, coal and others. On the basis of derivatives the global methanol market is categorized into gasoline, formaldehyde, acetic acid, dimethyl ether (DME), biodiesel and other. On the basis of end use industry the global methanol market is categorized into chemical, construction, automotive, electronics and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global methanol market such as BASF SE, SABIC, Methanex Corporation, Mitsubishi Gas Chemical Co., Inc. (MGC), Methanol Holdings (Trinidad) Limited(MHTL), Celanese Corporation, Petroliam Nasional Berhad (Petronas), Zagros Petrochemical Company (ZPC), Mitsui & Co., Ltd., Eastman Chemical Company and Atlantic Methanol Production Company.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global methanol market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of methanol market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the methanol market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the methanol market to understand the present and future trends in this market and formulate their strategies accordingly.
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