Methanol Market to Reach US$ 48.3 Billion by 2024 | CAGR of 11.1%

Global Methanol Market Research Report and Forecast 2024

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Report Description Global Methanol Market Overview:

According to IMARC Group’s new report, titled “Methanol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global methanol market has reached a value of US$ 24.7 Billion in 2018, exhibiting a CAGR of 7.7% during 2011-2018. Methanol, also known as wood alcohol, is a colourless liquid produced via the reaction of syngas and hydrogen in the presence of a catalyst. It is miscible in water, alcohol, ether, ketones and most other organic solvents. Although it is poisonous to human beings, methanol has diverse application in a number of industries.

Highlights of the Global Methanol Market • • •

Application of methanol in the energy sector and its use in the production of chemicals are driving its demand.

Formaldehyde represents the largest end-use industry globally.

China is the largest global producer of methanol and accounts for about half of the total production.

In the energy sector, methanol is used to manufacture Dimethyl ether (DME), a clean fuel that can be used as a substitute to propane.

Report Description and Highlights

157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

In Billion US$

Report Description

180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Other applications of methanol are fuel cells, gasoline blending, alcohol denaturation, wastewater treatment, methanol-to-olefins and methanol-to-gasoline conversions. Owing to the extensive applications of methanol in energy and chemical sectors, the global methanol market is further expected to reach a value of US$ 48.3 Billion by 2024, growing at a CAGR of 11.1% for 2019-2024.

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It is also used to manufacture Methyl tert-butyl ether (MTBE), an anti-knock agent and oxygenate in gasoline, engines. Moreover, it is and important component of biodiesel and is used as an alternative fuel for internal combustion. In the chemical sector, it is used to produce formaldehyde and acetic acid, which are further used in the production of adhesives, paints, plywood, solvents, foams, plastics, explosives, antifreeze, etc.

For more information, click https://www.imarcgroup.com/methanol-technical-material-market-report Key Market Segmentation: Market Segmentation by End-Use • • • • • •

Formaldehyde Dimethyl ether Gasoline Chloromethane MTBE/TAME Acetic acid

here:

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Report Description

On the basis of end-use, formaldehyde represents the largest industry, followed by gasoline, acetic acid, chloromethane, Dimethyl Ether and TAME/MTBE. Market Segmentation by Region • • • • • •

China Asia-Pacific (excluding China) Europe North America Latin America Middle east & Africa

On the basis of region, chine is the largest and fastest growing market in terms of global production.

Other important regions Asia Pacific (Excluding Chins), North America, Latin America, Europe and Middle East & Africa.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

Report Description and Highlights

Report Description • • • • •

Methanex Corporation Southern Chemical Corporation Saudi Arabian Basic Industries Corp Mitsubishi Gas Chemicals Zagros Petrochemical Company

Browse Related Report Carbon Black Market Report: https://www.imarcgroup.com/carbon-black-market Geopolymer Market Report: https://www.imarcgroup.com/geopolymer-market

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