Global Methanol Market is expected to rise from its initial estimated value of USD 83.30 billion in 2018 to a projected value of USD 130.68 billion by 2026, registering a CAGR of 5.79% in the forecast period of 2019-2026. This rise in market value can be attributed to overall growth of the automotive industry globally.
This rise in market value can be attributed to overall growth of the automotive industry globally.Methanol is used as a source or as a feedstock in the production of various other chemical components and products. Due to its characteristics of being similar to traditional fuel products with combustion, and availability it is being used as an alternative fuel in various transportation systems.
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• Increasing adoption of methanol as blended fuel in various transportation systems due to the concerns related to the environment; this factor is expected to act as a driver for the market growth
• Depletion of natural resources for usage as a fuel resulting in growth for various alternative products and solutions; this factor is expected to act as a driver for the market growth
Global Methanol Market,
• By Feedstock Type (Natural Gas, Coal, Others),
• Derivatives (Formaldehyde, Acetic Acid, MTBE, MMA, Gasoline Blending, Biodiesel, DME, TAME, DMT, MTO/MTP, Others),
• End-Use Industry (Construction, Automotive, Electrical and Electronics, Pharmaceuticals, Packaging, Paints and Coatings, Agriculture, Others),
• Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Industry Trends and Forecast to 2026
Key Developments in the Market:
• In January 2019, SABIC announced that they had agreed with South Louisiana Methanol for the establishment and development of a chemicals plant situated in the United States. This decision comes after a significant rise in the demand for shale gas production from the region.
• In December 2018, SABIC announced that they had increased their share in the Arrazi Methanol Company after they had purchased 50% stake from Japan Saudi Arabia Methanol Company for USD 150 million. This expansion will significantly increase the production capacity of SABIC for methanol.
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Methanol is used as a source or as a feedstock in the production of various other chemical components and products. Due to its characteristics of being similar to traditional fuel products with combustion, and availability it is being used as an alternative fuel in various transportation systems. It is known as wood alcohol because of its derivation from distillation of wood, but with advancements in technology a number of methods have been commercialized for its production.
Key Market Competitors:
• Celanese Corporation;
• Eastman Chemical Company;
• BASF SE;
• Atlantic Methanol;
• Methanex Corporation;
China XLX Fertilizer Ltd.; Mitsui Chemicals, Inc.; Mitsubishi Chemical Holdings Corporation.; Petroliam Nasional Berhad (PETRONAS); Valero Marketing and Supply Company; Methanol Holdings (Trinidad) Limited; BP p.l.c.; Clariant; Coogee; Enerkem; GNFC Limited; Haldor Topsoe A/S; Oberon Fuels; OCI NV are few of the major competitors currently present in the market.
Global methanol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of methanol market for global, Europe, North America, Asia-Pacific, South America and Middle East and Africa.
Table of Contents
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. Global, By Component
7. Product Type
9. Industry Type
10.2. North America
10.5. South America
10.6. Middle East and Africa
11. Company Landscape
12. Company Profiles
13. Related Reports
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