Global Methanol Market: Information by Feedstock (Natural Gas, Oil, and Coal), Derivative (Formaldehyde, Acetic Acid, Dimethyl Ether), End-Use Industry (Transportation, Building and Construction), and Region—Forecast till 2023
Pune, India – February 25, 2019 /MarketersMedia/ —
Methanol Market Overview:
As per analysis, APAC is expected to account the highest growth during the forecast period due to huge consumption, emerging economies, favorable economic condition, and others. The global methanol market is expected to reach USD 61 Billion at the end of the forecasted period and is expected to grow at CAGR of around 7.5%.
Methanol (also known as methyl alcohol, wood alcohol, wood spirits and carbinol), is a widely available chemical which has physical and chemical characteristics similar to that of conventional fuels. Methanol has many industrial applications and is also found in a number of household products including varnishes, antifreeze, windscreen wash, and fuel for model aircraft. Every day approximately 225 Million litters of methanol is used globally. Methanol is used to produce other chemical derivatives, which in turn are used to produce thousands of products that touch our daily lives.
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Methanol Market Key Players:
Methanol Market are Celanese Corporation (US), BASF SE (Germany), Methanex Corporation (Canada), SABIC (Saudi Arabia), Petroliam Nasional Berhad (PETRONAS), Mitsubishi Gas Chemical Company Inc. (Japan), Valero Marketing and Supply Company (US), Mitsui & Co. Ltd (Japan), Zagros Petrochemical Company (Iran), Sipchem (Saudi Arabia), Simalin Chemical Industries Limited (India), and Solventis (UK).
Methanol Market Segmentation:
Methanol market has been segmented by feedstock, derivative, end-use industry, and region.
Based on feedstock, the market has been segmented into natural gas, oil, coal, renewable resources, and others.
Based on derivative, the market has been segmented into formaldehyde, acetic acid, dimethyl ether, gasoline, solvents, methanol to olefins, methyl tart butyl ether, methyl methacrylate, and others.
Based on end-use industry, the market has been segregated into transportation, building and construction, electrical and electronics, packaging, paints and coatings, pharmaceuticals, water treatment, and others.
Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Methanol Market Regional Analysis:
Methanol is driven by the region Asia pacific, owing to benefits and advantages offered by the product resulting in to increasing demand for ideal fuel in transportation and automotive industries, among others. Methanol is extensively used as an alternative fuel in internal combustion engines due to its cost-effective nature and higher efficiency offered by the product. Moreover, methanol’s derivative, formaldehyde is used in paints, plastics, explosives and plywood due to its extraordinary blending properties and high-octane rating.
A surge in demand in the end-use industries are prompting the manufacturers and investors to shift their focus from natural gas resources to methanol product in the growing consumption of methanol product in various applications is the major factor behind their growth in the market. Moreover, end-use industries such as paints & adhesives, electronics and medical provide impetus to the methanol market growth.
Methanol Market Competitive Analysis:
Methanol Industry has undergone dramatic changes in the past 15 years. These changes have included a shift in regional demand dominance, the development of new end uses, and the emergence of new production centres. These factors have resulted in new trade flows, pricing and economic dynamics which have previously not existed in the industry with closer links to other chemical product areas, adding further complexity in determining market direction.
Methanol Market appears to be competitive with the presence of several large and small players operating in the global market. These major players are competing in the market on the basis of price, type, quality, technology and innovation. Methanol market is augmented to grow at a higher growth and likely to attract many entrants in the market resulting in to healthy competition in the future. Manufacturers operating in the methanol market are striving to respond to the growing demand for the product in automotive, construction, aviation and others. They ensure to produce best quality products based on derivatives, efficiency, performance and factors that are trending in the market.
Methanol Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Methanol Market
Methanol Market Table of Content to be Continue….,
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