The global methanol market size is estimated to grow from USD 24.0 billion in 2020 to USD 26.6 billion by 2025, at a CAGR of 5.5% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of methanol ranging from automotive to pharmaceutical industry. Increasing demand from APAC will further drive the growth of the global methanol market.
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Celanese Corporation (Texas), BASF SE (Germany), Methanex Corporation (Canada), SABIC (Saudi Arabia), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company (Japan), and Mitsui & Co., Ltd. (Japan) among others are the leading methanol manufacturers, globally. These companies adopted expansion, joint venture, and merger & acquisition as their key growth strategies between 2016 and 2020 to earn a competitive advantage in the methanol market.
Celanese Corporation (Texas) is the largest player in the methanol market, globally. Celanese Corporation is one of the primary providers of chemical solutions and specialty materials used in various industries and consumer applications. The company has its presence across North America, Europe, and Asia, with 31 global production facilities and nine strategic affiliate production facilities. It advanced the expansion of the Fairway Methanol production unit and progressed the global acetic acid reconfiguration for high return projects that are expected to deliver over USD 100 million of annual productivity savings when complete.
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BASF SE (Germany) is the second-largest player of the methanol market, globally. BASF SE has 396 facilities worldwide, which indicates its strong geographic footprint. Research activities funded by the BASF Group promote the targeted development and enhancement of key technologies and the establishment of new business areas. Research areas are determined based on strategic relevance for BASF, above and beyond existing business areas. BASF has well-diversified operations that mitigate risks associated with overdependence on a single or a few segments. The chemicals segment comprises the company's business with the necessary chemicals and intermediates. Its portfolio of products includes plasticizers, solvents, glues, alkylene oxides, caustic soda, urea, impregnating resins, neopentylglycol, propionic acids, and formic acids.
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HOME ❯ TOP MARKET REPORTS ❯ METHANOL MARKET
Methanol Market by Feedstock (Natural Gas, Coal), Derivative
(Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA), Sub-Derivative
(UF/PF Resins, Olefins), End-use Industry (Construction, Automotive),
and Region - Global Forecasts to 2025
[336 Pages Report] The Methanol market size is expected to grow at a CAGR of 5.5%, by value,
during the forecast period. The market is estimated to be USD 20.4 billion in 2020 and is projected
to reach USD 26.6 billion by 2025. Thedriving factors for Methanol market is its growing demand
from automotive industry.
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COVID-19 Impact on the Methanol Market
The global Methanol market includes major Tier I and II suppliers like as Celanese Corporation
(Texas), BASF SE (Germany), Methanex Corporation (Canada), SABIC (Saudi Arabia), PETRONAS
(Malaysia), Mitsubishi Gas Chemical Company (Japan), and Mitsui & Co., Ltd. (Japan). These
suppliers have their manufacturing facilities spread across various countries across Asia Pacific,
Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their
businesses as well.
These players have announced the suspension of production due to the lowered demand, supply
chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy,
and Spain during the COVID-19 pandemic. As a result, the demand for methanol is expected to
decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan
production according to demand from tier 1 manufacturers.
Methanol : Market Dynamics:
Driver:Increasing demand for petrochmeicals in APAC
Methanol is used large-scale production of petrochemicals. The growth in petrochemicals demand
in APAC is driving the methanol market. The use of petrochemicals