In a recent published report, Kenneth Research has updated the market report for Methanol Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Methanol Market products.
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A report on Methanol Market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021. On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities.
Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
The Methanol Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.
The global methanol market is estimated to reach USD 91.53 billion by 2026 growing at a CAGR of 9.8% during the forecast period, according to a new study published by Polaris Market Research. The report ‘Methanol Market Share, Size, Trends, & Industry Analysis Report, [By Feedstock (Natural Gas, Coal), By Derivatives (Formaldehyde, Acetic Acid, Gasoline, MTO, Gasoline, MMA), By End-Use (Automotive, Construction, Electronics, Paints & Coatings, Pharmaceuticals), By Regions]: Segment Forecast, 2019 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the natural gas feedstock segment dominated the market, in terms of revenue. In 2018, North America accounted for the majority share in the global market.
Methanol is one of the largely produced chemicals in bulk by making use of feedstock such as natural gas and coal. Approximately 200,000 kilo tons of methanol is being consumed every day for the production of other chemicals or as transportation fuels. The global methanol industry apart from large number of producers constitutes of thousands of technology innovators, distributors, service providers, and downstream manufacturers.
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Rising formaldehyde manufacturing is primarily driving the global methanol demand. Methanol is a key chemical in the production of formaldehyde which is further modified to from glues, resins, and plastics. It is also used largely in the production of acetic acid which is used in the manufacturing of PET products and polyester fibers. Methanol is among one of the largest industrial chemicals that is an essential building block for other chemical compounds.
One of the fastest growing end-use of methanol in the current scenario includes methanol to olefins (MTO). Ethylene and propylene are olefins with massive demand in the plastic growth. MTO growth opportunities have majorly appeared in China and are typically produced by the steam cracking of ethane and naphtha.
Methanol market is crucially more complex with some of its derivative affordability highly dependent on fluctuations in the prices of crude oil. The global methanol industry is anticipated to witness moderate growth rates during the forecast period. This is due to maturity in direct gasoline blending and moderating growth rates of MTO projects, especially arising from the Northeast Asia.
The end-use applications of methanol are further serving applications in direct sectors such as packaging, textiles, construction, coatings, furniture, paints, and few others. The overall market demand of methanol is considerably complex and is impacted by several factors such as fuel consumption, fuel prices, biofuel mandates, environmental policies, plastic consumption, chemical demand, and consumer housing/construction markets.
Asia Pacific is the dominant regional market for methanol followed by North America and Europe respectively. Northeast Asia is is the major region for the production of methanol. While the production stagnated in most of the regions since the turn of the century, it gained immense significance in Northeast Asia due to high demand from China.
Regions such as Middle East are low cost regions with competitive production, where it is basically a swing supplier to North America and Europe. The global ethanol pricing originates is China and on basis of same benchmarking the prices are set by the Middle East.
Global methanol market constitutes of large number of multinational and domestic companies and is highly fragmented. Some of the major industry players for methanol include Methanex Corporation, Methanol Production Company, Eastman Chemical Company, BASF SE, SABIC, and Petronas.
Polaris Market Research has segmented the global Methanol market on the basis of Product, Derivative, End-Use and region:
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Methanol Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 – 2026)
Natural Gas
Coal
Others
Methanol Derivative Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 – 2026)
Formaldehyde
Acetic Acid
Gasoline
MTO
MMA
Others
Methanol End-Use Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 – 2026)
Automotive
Construction
Electronics
Paints & Coatings
Pharmaceuticals
Others
Methanol Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 – 2026)
North America
U.S.
Canada
Europe
Germany
UK
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
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