Exactitude Consultancy Press Release: Global methanol market

Methanol market is expected to grow due to the growing demand for chemicals in the Asia Pacific.

For the large-scale manufacture of petrochemicals, Methanol is used. The demand for petrochemicals is rising in APAC, which is driving the market for methanol. The key factor propelling the methanol market is the use of petrochemicals in end-use sectors like building and automotive. Methanol, ethylene, propylene, butadiene, benzene, toluene, and xylenes are the organic compounds produced in the petrochemical sector at the highest rate. Olefins, which also include butylene, also include ethylene, propylene, and butadiene. Methanol, often known as primary petrochemical, is a precursor to many other chemical compounds.

The expansion of methanol in the petrochemical industry is mostly due to the synthesis of clefins from it; the third-largest and fastest-growing derivative segment in the methanol market is MTO/MTP. China has a number of MTO facilities that use coal as their main feedstock. Because to the enormous demand for plastics like polyethylene and polypropylene in end-use industries, MTO plant expansion is accelerating in China. As a result, China’s massive production of olefins from methanol and the growth of MTO facilities there are the two main factors driving the methanol market in APAC.

Explore 188 market data Tables spread through nearly 125 Pages and in-depth analysis on “Methanol Market is Segmented by Feedstock (Coal, natural gas, others), Derivative (Gasoline, MTO/MTP, formaldehyde, methyl tertiary butyl ether, acetic acid, dimethyl ether, methyl methacrylate, biodiesel, others), Sub-derivative (Gasoline additives, olefins, UF/PF resins, VAM, polyacetals, MDI, PTA, acetate esters, acetic anhydride, fuels, others), End user (Construction, automotive, electronics, appliances, paints & coatings, insulation, pharmaceuticals, packaging, solvents, others) and Region, Global trends and forecast from 2022 to 2029” With Table of Contents

There are growing opportunities in use of methanol as a substitute fuel in the manufacturing and maritime industries to help themethanol market grow.

Due to its lower emissions, methanol is becoming more and more popular as a fuel due to rising demand for clean-burning fuels and regulatory reforms. Methanol is gaining popularity as a maritime fuel because of its favourable environmental effects, widespread availability, low cost, and successful and secure application. Methanol lowers emissions of particulate matter, nitrogen oxides, and sulphur oxides (SOX, NOx). There are currently pilot programmes to encourage the commercialization of methanol as a marine fuel for ferries, tugboats, barges, and cruise ships.

Methanex Corporation has teamed up with the Ministry of Transport’s China Waterborne Transportation Research Institute (CWTRI) in China to assess the technical and practical criteria for using methanol as a marine fuel. A burgeoning market for methanol as an alternative fuel is being created in China as a result of strict air quality emission restrictions in regions like Shandong and Beijing that are forcing the phase-out of coal-fuelled industrial boilers and industrial kilns in favour of cleaner fuels. Methanol has a competitive fuel price and needs only a little infrastructure investment because it is a liquid fuel.

Due to the use of fuel-grade ethanol themethanol market’s growth rate will be further reduced.

Methanol is used in many different applications, with the automobile industry being one of the biggest end markets for it. High octane fuels for racing automobiles have been one of their main uses. These alcohols, however, are hydrocarbon fuels and emit fewer emissions than other fuels. Alcohols can be utilised as fuels in two different ways: ethanol and methanol. Because of its strong corrosiveness when it comes into touch with metals, methanol is more hazardous to handle than ethanol and calls for a whole separate fuel delivery system.

Methanol is more chemically harmful than ethanol, yet ethanol has a higher energy density per gallon. In comparison, methanol carries just around 67% of the energy found in a gallon of gasoline. Because it is still a liquid and has a higher energy density than methanol, ethanol is a desirable substitute. In many nations, ethanol is a typical fuel additive. Although some nations provide 25% or even 100% ethanol for car fuel, the average amount of ethanol in gasoline around the world is about 5.4%.

Asia Pacific region is expected to show highermethanol market growth in the forecast period.

The market’s growth is primarily attributed to the Asia Pacific region. The market is anticipated to expand along with the development of the building and automotive sectors in China and India. A significant contributor to the market’s expansion is the fact that China is a significant producer and consumer of DERIVATIVE. The Asia Pacific region has a sizable and expanding population, which is driving demand for a variety of chemical products used in consumer goods, electronics, construction, and other end-use industries. As the economies of the region expand and consumer preferences change, this trend is anticipated to last for the foreseeable future. The demand for consumer goods and personal care products is being driven by the region’s huge and expanding population as well as rising wages. Surfactants, polymers, and speciality chemicals are all experiencing growth as a result of this.

COVID-19 pandemic had a negative impact on the methanol market.

As many businesses around the world were forced to shut down due to the COVID-19 epidemic, there have been significant financial losses. Due to the disruption of the supply chain, the closure of manufacturing facilities, and the overall slowdown in the global economy, this has eventually reduced the demand for methanol. Major methanol producing nations like the US and China also have import-export restrictions in place. Several nations, for instance, mandated the sanitization of items imported from China. Also, the construction and automotive industries were the most negatively impacted in terms of sales and the acquisition of new projects, which resulted in a large decline in the demand for methanol.

For instance, in the construction business, a number of construction projects were delayed or abandoned due to a lack of manpower, raw supplies, and workers, worker fear of getting the COVID-19 virus, and travel restrictions. Methanol is utilised in spark-ignition engines, which is similar to the automotive industry. However, the pandemic has limited the market share for methanol due to delays in China’s exports of car parts and the closure of vehicle assembly and production facilities. To make methanol from coal using coal-to-liquid technology, the Indian government, however, started a new effort in October 2021. In West Bengal, the first project using the coal-to-liquid technology has been launched. During the period of the analysis, these measures are anticipated to increase demand for methanol.

Methanol Market Key Players

Methanol market key players include Celanese Corporation, BASF SE, Methanex Corporation, SABIC, Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company, Inc., Valero, Mitsui & Co., Ltd., Methanol Holdings (Trinidad) Limited., Zagros Petrochemical Co.

Key Market Segments: Methanol Market

Methanol Market By Feedstock, 2020-2029, (USD Billion, Kilotons)

• Coal
• Natural Gas
• Others

Methanol Market By Derivative, 2020-2029, (USD Billion, Kilotons)

• Gasoline
• MTO/MTP
• Formaldehyde
• Methyl Tertiary Butyl Ether
• Acetic Acid
• Dimethyl Ether
• Methyl Methacrylate
• Biodiesel
• Others

Methanol Market By Sub-Derivative, 2020-2029, (USD Billion, Kilotons)

• Gasoline Additives
• Olefins
• UF/PF Resins
• VAM
• Polyacetals
• MDI
• PTA
• Acetate Esters
• Acetic Anhydride
• Fuels
• Others

Methanol Market By End User, 2020-2029, (USD Billion, Kilotons)

• Construction
• Automotive
• Electronics
• Appliances
• Paints & Coatings
• Insulation
• Pharmaceuticals
• Packaging
• Solvents
• Others

Methanol Market By Region, 2020-2029, (USD Billion, Kilotons)

• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa

Important Countries In All Regions Are Covered.

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