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The methanol market size is forecast to increase by USD 6.13 billion between 2022 and 2027, accelerating at a CAGR of 3.34%. In 2017, China held the largest market share, projecting an annual revenue of USD 14.17 billion. The report offers extensive research analysis on the Methanol Market, with a categorization based on Derivative Type, including Formaldehyde, Gasoline, Acetic acid, DME, and MTO/MTP and others. It further segments the market by End-user, encompassing Automotive, Construction, Paints and coatings, Electronics, and Others. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2017-2021), and future projections are presented in terms of value ( in USD billion) for all the mentioned segments.
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The rising demand for formaldehyde and its derivatives is a key factor driving the market growth. Formaldehyde, derived from methanol, plays a vital role in various industries, making it a major driver of methanol consumption globally. It's used in resins like urea-formaldehyde and phenol-formaldehyde, commonly found in wood products like particleboard, plywood, and MDF, crucial for construction and furniture industries. Automotive and aerospace sectors utilize these resins for lightweight, high-strength materials, with rising demand as these industries evolve. Textile and paper industries also use formaldehyde-based resins, further increasing the need for methanol. Growing construction and urbanization in developing regions heightens demand for formaldehyde-based materials, fueling the methanol market's growth during the forecast period.
The formaldehyde segment was the largest segment and was valued at USD 9.17 billion in 2017. Formaldehyde is primarily used in making resins and adhesives, with applications in the wood, furniture, and construction industries. These resins are crucial for products like plywood, particleboard, and engineered wood materials, as well as construction materials like insulation foam, laminates, and fiberboards. In the automotive sector, formaldehyde-based resins are used for interior components.
Formaldehyde, in the form of formalin, serves as a disinfectant and preservative in various applications. The Asia-Pacific region, especially China, India, and Southeast Asian countries, is the largest consumer of formaldehyde due to its extensive use in multiple industries. This broad range of applications is expected to drive the demand for methanol, which, in turn, will boost the formaldehyde segment of the global methanol market during the forecast period.
APAC is estimated to contribute 74% to the growth of the global market during the forecast period. One of the main factors which are significantly contributing to the global methanol market in APAC is the increasing demand for methanol and its derivatives from the construction, automotive, textile, and furniture industries. The leading countries which there is high demand for methanol and its derivatives is China due to the rising demand for methanol-gasoline blends, which are extensively used as transportation fuels.
Additionally, there is a shift toward the APAC market due to the developing market and intense competition among APAC countries. Furthermore, there is an increasing demand for the chemical industry in APAC due to the rise in chemical products across different sectors. Hence, such factors are expected to drive market growth in the region during the forecast period.
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The Methanol Market is fragmented in nature. Some significant players include BASF SE, Celanese Corp., Coogee, Eni SpA, GNFC Ltd., INEOS Group Holdings SA
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
LyondellBasell Industries N.V., Methanex Corp., Mitsubishi Gas Chemical Co. Inc., MITSUI and CO. LTD., Oberon Fuels Inc., OCI NV, PETRONAS Chemicals Group Berhad, Proman GmbH, Saudi Arabian Oil Co., Simalin Chemical Industries Pvt. Ltd., Thermo Fisher Scientific Inc., Zagros Petrochemical Co., Chevron Corp., and ENERKEM Inc.
The methanol market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
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Methanol Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.34% |
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Market growth 2023-2027 |
USD 6.13 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.11 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 74% |
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Key countries |
US, China, South Korea, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BASF SE, Celanese Corp., Coogee, Eni SpA, GNFC Ltd., INEOS Group Holdings SA, LyondellBasell Industries N.V., Methanex Corp., Mitsubishi Gas Chemical Co. Inc., MITSUI and CO. LTD., Oberon Fuels Inc., OCI NV, PETRONAS Chemicals Group Berhad, Proman GmbH, Saudi Arabian Oil Co., Simalin Chemical Industries Pvt. Ltd., Thermo Fisher Scientific Inc., Zagros Petrochemical Co., Chevron Corp., and ENERKEM Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Derivative Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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