Top News: Methanol Market to Hit $39.18 Billion by 2028 | Fortune Business Insights™

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Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, 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. Methanol is found in petroleum refineries and refined from crude oil through fractional distillation. 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.  Fortune Business Insights™ has presented this information in its report Methanol Market, 2021-2028." As per the report, the market stood at USD 27.95 billion in 2020. It is projected to grow from USD 28.74 billion in 2021 to USD 39.18 billion in 2028 at a CAGR of 4.5% during the forecast period.

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A list of renowned methyl alcohol manufacturers operating in the global market:

  • 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

Report Scope & Segmentation:

Report CoverageDetails
Forecast Period2021-2028
Forecast CAGR4.5%
2028 Value ProjectionUSD 39.18 Billion
Base Year2020
Methanol Market Size in 2020USD 27.95 Billion
Historical Data2017-2019
No. of Pages220
Segments CoveredBy Application and Regional
Methanol Market
Growth Drivers
Rising Demand from Automotive and Construction Industries to Propel Growth
Detrimental Effects Due to Exposure to Methanol May Hamper Growth

Segmentation-

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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.

Most Important Features in this Report:

1. Detailed market study of the Methanol market

2. Changing industry competitive landscape

3. Detailed competitive categorization

4. Historical, current, and forecast market size in quantity and value

5. Recent industry trends and developments

6. The Methanol Market's Competitive Landscape Key Players' Strategies and Product Portfolio

7. Segments/Regions Showing Promising Growth a Neutral Perspective on the Performance

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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.

Browse Detailed Summary of Research Report with TOC:

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

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Key Developments: Mergers, Acquisition, Partnership, etc.
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
  • Qualitative Insights Impact of COVID-19 on the Global Methanol Market
    • Supply Chain Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to the COVID-19 outbreak

TOC Continued…!

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.

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