The report “Methanol Market by Feedstock (Natural Gas, Coal), Derivative (Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA), Sub-Derivative (UF/PF Resins, Olefins), End-use Industry (Construction, Automotive), and Region – Global Forecasts to 2025″, The global methanol market size is expected to grow from USD 24.0 billion in 2020 to USD 26.6 billion by 2025, at a CAGR of 5.5% during the forecast period. Methanol are used across industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles) and Solvents. In the methanol market, automotive is the key end-use industry owing to the wide applications of these methanol.
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“Automotive segment is expected to lead the Methanol market during the forecast period.”
The automotive industry will continue to lead the Methanol market, , accounting for a share of 24.8% of the overall market, in 2019 terms of value. This was due to the increasing demand for vehicles development and mounting demand for consumer goods such as automobiles. The increasing preference for high-cost, high-performance methanol is driven by the need to improve the quality of life, health & environment, and shift to clean, alternative sources of manufacturing.
♦ Recent Developments
- In June 2020, Saudi Aramco acquired 70% stakes of SABIC from the Public Investment Fund (PIF), for a total purchase of USD 69.1 billion. This transaction enhances Aramco’s presence in the global petrochemicals industry, a sector expected to record the fastest growth in oil demand in the years ahead.
By End-Use Industry
- Paints & Coatings
- Packaging (PET bottles)
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“Asia Pacific is the largest market for Methanol.”
Asia Pacific accounted for the largest share of the Methanol market in 2020. Factors such as the rapidly increasing consumption of methanol in the construction, automotive and electronics industries in countries such as China, Japan, India, South korea and Australia have led to an increased demand for Methanol in the Asia Pacific region.
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