Global Methanol Market Size To Exceed USD 88.54 Billion By 2033: Market Study Report

Global Methanol Market Size To Exceed USD 88.54 Billion By 2033   

According to a research report published by Spherical Insights & Consulting, The Global Methanol Market Size is Expected to Grow from USD 37.80 Billion in 2023 to USD 88.54 Billion by 2033, at a CAGR of 8.88% during the forecast period 2023-2033. 

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Methanol Market Size, Share, and COVID-19 Impact Analysis, By Application (Formaldehyde, Gasoline, Acetic Acid, Dimethyl Ether, MTO/MTP, and Biodiesel), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The methanol market in which there is global trade and consumption of methanol. Methanol is a unique chemical used for various purposes or used as feedstock for various chemicals for making fuel or fuel additives. Methanol is used as an alternative to gasoline when increasing in consumption of methanol to produce methyl tert-butyl ether (MTBE) which significantly increases the market growth. Methanol plays a vital role in the production of biodiesel. The biodiesel is produced with the process known as transesterification in which the fatty acids or vegetable oil react with the methanol and produce biodiesel. Furthermore, in the automotive and construction industries the demand for methanol increasing at a high amount, this is because methanol works similarly to other fuels when used in the engines of vehicles. Methanol is also used to produce methyl tert-butyl ether (MTBE) which is a derivative of petrol and biodiesel. However, the methanol market faces some challenges such as the high prices of volatile feedstock, environmental concerns, high cost of raw materials, and preparation infrastructure.

The formaldehyde segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 25.24% during the forecast period.

Based on the application, the global methanol market is divided into formaldehyde, gasoline, acetic acid, dimethyl ether, MTO/MTP, and biodiesel. Among these, the formaldehyde segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 25.24% during the forecast period. The production of formaldehyde is typically produced via a vapor oxidation reaction in which there is involvement of methanol and oxygen. Methanol is produced from several feedstocks as coal, biomass, and natural gas. 

Asia Pacific is anticipated to hold the highest share of the global methanol market over the projected period.

Asia Pacific is anticipated to hold the highest share of the global methanol market over the projected period. The methanol market is growing in the Asia Pacific region due to China being the largest producer and consumer of methanol. With China, other countries are involved in increasing demand for methanol such as Japan, and South Korea. The rising demand for acetic acid, formaldehyde, and DME that are increasing the growth rate of the methanol market.

North America is estimated to grow at the fastest CAGR of the global methanol market during the forecast period. The growth is mainly fueled by lowering the pricing of methanol across North America. In this region for the production of acetic acid, formaldehyde, and MTBE there is a huge demand for methanol. Those are the factors that increase the methanol market in North America.

Company Profiling 

Major vendors in the global methanol market are Celanese Corporation, BASF SE, Petroliam Nasional Berhad (PETRONAS), Qualcomm Technologies, Inc., SABIC, Methanex Corporation, Zagros Petrochemical Company, Mitsui & Co. Ltd., Mitsubishi Gas Chemical Co., Inc., QAFAC (Qatar Fuel Additives Company Limited), and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In January 2024, the BASF process catalyst announced a new collaboration with Envision Energy, which is a green technology provider including a net zero solution. This collaboration is for the development of green hydrogen and CO2 into e-methanol using a powerful process design.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global methanol market based on the below-mentioned segments: 

Global Methanol Market, By Application

• Formaldehyde
• Gasoline
• Acetic Acid
• Dimethyl Ether
• MTO/MTP
• Biodiesel

Global Methanol Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa