Methanol Market to Hit USD 46.32 Billion in 2032

The global methanol market size is set to gain traction from the urgent need to lower environmental pollution caused by the surging usage of heavy fuels, such as diesel and gasoline. Pollution further leads to global warming and climate change. Statista mentioned that the earth's surface temperature was 0.98 Celsius degrees warmer in 2020 than the 20th Century average. This information is published by Fortune Business Insights™ in a report titled, "Methanol Market, 2021-2028." As per the report, The global methanol market size was valued at USD 31.26 billion in 2023 and is projected to grow from USD 32.70 billion in 2024 to USD 46.32 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐏𝐚𝐧𝐝𝐞𝐦𝐢𝐜: 𝐋𝐨𝐰𝐞𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐏𝐚𝐢𝐧𝐭𝐬 𝐚𝐧𝐝 𝐀𝐝𝐡𝐞𝐬𝐢𝐯𝐞𝐬 𝐭𝐨 𝐇𝐚𝐦𝐩𝐞𝐫 𝐆𝐫𝐨𝐰𝐭𝐡
The outbreak of the COVID-19 pandemic has slowed down manufacturing activities worldwide. For instance, Methanex Corporation, a leading firm in the market, stopped activities in its plants with production capacities of 800 KT and 850 KT per annum in Chile and Trinidad, respectively. Besides, the lower demand for chemicals, paints, and adhesives derived from this compound is set to hamper growth amid the pandemic.

𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/methanol-market-101552

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭
• Methanex Corporation (Canada)
• HELM AG (Germany)
• Southern Chemical Corporation (U.S.)
• SABIC (Saudi Arabia)
• Mitsubishi Gas Chemical Company, Inc. (Japan)
• Zagros Petroleum(Iran)
• PETRONAS (Malaysia)
• Mitsui & Co., Ltd. (Japan)
• Celanese Corporation (U.S.)
• BASF SE (Germany)
• Simalin Chemical Industries Pvt. Ltd. (India)
• Other Players

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧-
𝐀𝐜𝐞𝐭𝐢𝐜 𝐀𝐜𝐢𝐝 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 𝟓.𝟓% 𝐒𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟎: 𝐅𝐨𝐫𝐭𝐮𝐧𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬™
By derivatives, the market is segregated into formaldehyde, acetic acid, MTBE, DME, gasoline blending, biodiesel, methanol to olefins (MTO)/methanol to propylene (MTP), solvent, and others. Among these, the MTO/MTP segment exhibits the highest CAGR in the near future, backed by the high demand for polyolefins from a wide range of end-user industries. The acetic acid segment earned 5.5% in terms of the methanol market share in 2020.

𝑮𝒆𝒕 𝒂 𝑸𝒖𝒐𝒕𝒆:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/methanol-market-101552

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞-
The research report studies decisive segments of the methyl alcohol industry containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help our clients to accurately determine the market size to guide them in choosing the right segment for their business growth.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 & 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬-
𝐒𝐮𝐫𝐠𝐢𝐧𝐠 𝐔𝐬𝐚𝐠𝐞 𝐚𝐬 𝐚 𝐏𝐫𝐞𝐜𝐮𝐫𝐬𝐨𝐫 𝐢𝐧 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬 𝐚𝐧𝐝 𝐓𝐞𝐱𝐭𝐢𝐥𝐞𝐬 𝐭𝐨 𝐁𝐨𝐥𝐬𝐭𝐞𝐫 𝐆𝐫𝐨𝐰𝐭𝐡
The high demand for the product from the construction and automotive industries is set to surge its usage across the globe. The chemical compound is often used in insulation materials, adhesives, textiles, and plastics as a precursor. However, the consumption of inhalation of this chemical can result in death, accumulation of acids in blood, and blindness. It may obstruct the methanol market growth in the near future.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬-
𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐑𝐞𝐦𝐚𝐢𝐧 𝐚𝐭 𝐅𝐨𝐫𝐞𝐟𝐫𝐨𝐧𝐭 𝐒𝐭𝐨𝐤𝐞𝐝 𝐛𝐲 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
Geographically, in 2020, Asia Pacific held USD 17.60 billion in terms of revenue. It is set to be the major contributor to the growth of the industry because of the rapid expansion of the construction and automotive industries. In North America, on the other hand, the higher demand for this chemical compound from green fuel manufacturers would propel growth. Europe is likely to grow considerably on account of the expansion of the automotive industry.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞-
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐅𝐨𝐫𝐦𝐢𝐧𝐠 𝐉𝐨𝐢𝐧𝐭 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬 𝐰𝐢𝐭𝐡 𝐎𝐭𝐡𝐞𝐫𝐬 𝐭𝐨 𝐈𝐧𝐭𝐞𝐧𝐬𝐢𝐟𝐲 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧
The global market contains many companies, out of which, most of them are participating in acquisitions, mergers, and joint venture strategies. A few others are focusing more on expanding their production capacities to meet the high consumer demand. Below is one of the significant industry developments:

• June 2018: Southern Chemical Corporation (SCC), Proman AG, and Helm AG formed a joint venture named Helm Proman Methanol AG to accelerate their methanol-based marketing activities. The newly formed company is headquartered in Switzerland. SCC will hold 5% share, while Proman AG will hold 38% and Helm AG will have 57% shares.

𝑹𝒆𝒂𝒅 𝑴𝒐𝒓𝒆 𝑰𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏
https://www.fortunebusinessinsights.com/industry-reports/methanol-market-101552

𝑹𝒆𝒍𝒂𝒕𝒆𝒅 𝑹𝒆𝒑𝒐𝒓𝒕𝒔 -
Fuel Additives Market: https://www.fortunebusinessinsights.com/fuel-additives-market-102913
Acetic Acid Market: https://www.fortunebusinessinsights.com/acetic-acid-market-103386

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This release was published on openPR.