SkyQuest's Methanol market report is excellent information for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
| Source: SkyQuest Technology Consulting Pvt. Ltd.
Westford USA, April 17, 2023 (GLOBE NEWSWIRE) -- Over the forecast period (2023-2030), the Methanol market is expected to grow at a CAGR of 3.4%, reaching a value of USD 47.4 billion by 2030. The market is being fuelled by increasing demand from the automotive sector, chemicals, and formaldehyde, as well as favorable government regulations. Methanol is also being used as a blending component in gasoline and as a fuel in fuel cells. According to a report by ResearchAndMarkets, the global demand for methanol for energy applications is expected to grow at a CAGR of 4.2%, reaching 12.7 million tons by 2025.
SkyQuest's latest research reveals that the global methanol demand for petrochemicals is expected to reach 38.8 million tons by 2025, growing at a CAGR of 3.8%. Additionally, technological advancements have enabled methanol to be produced from various feedstocks, including coal, biomass, and natural gas, making it more readily available and cost-effective as a fuel and feedstock.
Browse in-depth TOC on "Methanol Market"
- Pages - 242
- Tables - 78
- Figures - 75
The demand for methanol is expected to increase significantly in the coming years as it is a versatile chemical that finds its applications in several industries such as construction, automotive, and electronics. Methanol is also a feedstock for producing other chemicals and fuels like biodiesel, formaldehyde, and acetic acid, making it an essential component in the chemical industry. Furthermore, with the increasing focus on reducing carbon emissions and shifting towards renewable energy sources, the importance of methanol as a cleaner-burning fuel is set to grow in the future.
Prominent Players in Methanol Market
- Methanex Corporation
- Celanese Corporation
- Mitsui & Co. Ltd.
- Mitsubishi Gas Chemical Company Inc.
- Yankuang Group Co. Ltd.
- OCI N.V.
- Zagros Petrochemical Company
- Atlantic Methanol Production Company LLC
- Petroliam Nasional Berhad (PETRONAS)
- BP plc
- LyondellBasell Industries Holdings B.V.
- BASF SE
- Dow Inc.
- Exxon Mobil Corporation
- Praxair Inc.
- Linde plc
- Air Products and Chemicals Inc.
- Saudi Basic Industries Corporation (SABIC)
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Formaldehyde Production Segment to Drive Higher Sales Due to the Primary Use of Methanol in the Production of Resins, Which Are Used in Various Industries
A recent analysis indicates that the Formaldehyde Production segment is a significant contributor to the rapid growth of the Methanol market in 2021, with this trend expected to continue from 2022 to 2030. The primary use of methanol in the production of resins, used in various industries such as construction, automotive, and textiles, is driving this trend. The largest application segment for methanol is formaldehyde production, accounting for over 40% of the global demand, according to a report by Markets and Markets.
North America is projected to be a dominant player in the Methanol market from 2022 to 2030, according to SkyQuest's research analysis. The region is expected to grow at a CAGR of 4.82% during the forecast period. The growth in demand from end-use industries such as automotive, construction, and electronics, coupled with the shift towards using methanol as a fuel and feedstock for producing other chemicals and fuels, is driving this expansion in the region. The North American Methanol Association (NAMA) is also actively promoting methanol as an alternative fuel and investing in research and development initiatives to drive industry growth.
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Construction Industry Segment to Exhibit Strong Growth Due to Widespread Use of Methanol in Producing Formaldehyde-Based Resins and Adhesives Extensively Utilized
In 2021, the Construction Industry emerged as the dominant end-use segment in the Methanol market, and it is expected to continue leading from 2022 to 2030. The trend is fueled by the widespread use of methanol in producing formaldehyde-based resins and adhesives extensively utilized in the construction sector. As per SkyQuest's report, the construction industry accounts for 60% of the total methanol market.
The Asia Pacific region is also a significant player in the Methanol market, expected to retain its leading position till 2030. SkyQuest's latest research predicts a considerable expansion of the Methanol market in the Asia Pacific region, with an estimated CAGR of 5.97% during the forecast period. The expansion can be attributed to several factors, including the growing number of methanol production facilities, high demand for methanol, and favorable government initiatives and policies. For instance, the Chinese government has set a target to have 50% of its vehicles running on methanol by 2030, and they have implemented policies to increase the use of methanol in transportation.
A comprehensive analysis of the major players in the Methanol market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Methanol Market
- Jackson Green, a company under the Jakson Group, announced in a statement that they would be setting up a methanol synthesis facility at NTPC's Vindhyachal thermal power plant in Madhya Pradesh. The project was awarded to them by NTPC, a state-run company. The methanol synthesis plant will have a production capacity of 10 tonnes per day and will be a part of NTPC's Vindhyachal TPP. According to Jackson Green, methanol is a cleaner alternative fuel that can be utilized for various purposes, such as power generation and transportation. The company is currently designing the methanol production unit to convert 20 TPD CO2 to 10 TPD methanol through a catalytic hydrogenation process. They will be utilizing CO2 from the thermal plant flue gas through a carbon capture unit and green hydrogen produced by electrolysis.
- Green fuel producer ETFuels and Mexican building materials company Cemex have entered into an agreement to convert carbon emissions from Cemex's Alicante cement plant in Spain into green methanol. ETFuels will use up to 450,000 metric tons of captured CO2 annually, combining it with green hydrogen to produce sustainable fuel in the form of e-methanol. Cemex is currently assessing various strategies and partners to carry out CO2 capture for this project. The e-methanol fuel generated through this partnership aims to be utilized in the shipping industry, aiming to reduce overall carbon emissions in the global supply chain.
Key Questions Answered in Methanol Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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|The market size value in 2021||USD 3.71 Billion|
|The Revenue forecast in 2030||USD 6.25 Billion|
|Base year for estimation||2021|
USES OF GREEN METHANOL
The expansion of green methanol as an alternative fuel to fossil fuels is particularly attractive to the maritime industry because, being liquid at room temperature, it is much less costly to store and transport than gaseous fuels, and has the lowest carbon footprint of all liquid fuels.
While a 2021 report from the American Bureau of Shipping estimated the cost of green methanol at $643/tonne or $0.032/MJ and grey methanol at $417/tonne or $0.021/MJ, MGO costs, on average, $600/tonne or $0.014/MJ.What is green methanol economy? ›
The methanol economy is a suggested future economy in which methanol and dimethyl ether replace fossil fuels as a means of energy storage, ground transportation fuel, and raw material for synthetic hydrocarbons and their products.What will be the price of methanol in 2050? ›
The price of methanol in 2050
BECCS is generally deployed where biomass is used for energy, while DAC technology allows it to be deployed in deserts where hydrogen will be cheaper. The costs of e-methanol are projected to decline significantly and be on par with biomethanol, ranging from 250 to 630 USD/t by 2050.
Methanex is the world's largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and Latin America.Is methanol an excellent green solvent? ›
Results show that simple alcohols ( methanol , ethanol ) or alkanes ( heptane , hexane ) are environmentally preferable solvents, whereas the use of dioxane , acetonitrile , acids, formaldehyde , and tetrahydrofuran is not recommendable from an environmental perspective.What is a green alternative to methanol? ›
Ethyl lactate, for example, is a green solvent derived from processing corn. Ethyl lactate is the ester of lactic acid.Is methanol cleaner than gasoline? ›
Methanol is cleaner burning than gasoline and generates fewer emissions. In the case of accidental large-scale spills, methanol, unlike gasoline, is soluble in water and is biodegradable.Who produces green methanol? ›
thyssenkrupp's green methanol technology
To make the technology fit for the future and industrial-scale plants, thyssenkrupp employs its own Uhde Methanol technology.
eMethanol is also referred to as 'green' methanol because of the way in which it is produced: combining biogenic CO2 (put simply, CO2 created by burning biologically based materials, such as biomass) with hydrogen, created by water electrolysis.How many methanol plants are in the US? ›
There are eighteen U.S. methanol production plants, with a total annual capacity of over 2.6 billion gallons. Most of the methanol in the U.S. is produced from natural gas.Who is the biggest consumer of methanol? ›
In 2020, China accounted for 40 percent of the world's methanol demand, while the rest of Asia accounted for an additional 46 percent of the worldwide demand, becoming the region where the demand for methanol was the highest by far.Who is the largest consumer for methanol in the world? ›
The Asia-Pacific dominated the worldwide market with a significant market share. It is projected to maintain its dominance during the forecast period. China alone is the largest producer and consumer of over 60% of the world's methanol, making the country the worldwide leader.What is the outlook for green methanol? ›
"Looking ahead, the increase in methanol production is expected to see a progressive shift to renewable methanol, with an estimated annual production of 250 million mt of e-methanol and 135 million mt of biomethanol by 2050," IRENA said in its 2021 outlook.Which country uses the most methanol? ›
China is the global leader in methanol use and has recently expanded methanol production capacity.Does methanol have a future? ›
Polygeneration, the ability to scale efficiently and cost-effectively, versatility in so many products and applications including transportation fuels, its biodegradability and its 100-year history of safe production, use and handling is what makes methanol future-proof.Why methanol is a future fuel? ›
Lower production costs—Methanol is cheap to produce relative to other alternative fuels. Improved safety—Methanol has a lower risk of flammability compared to gasoline. Increased energy security—Methanol can be manufactured from a variety of domestic carbon-based feedstocks, such as biomass, natural gas, and coal.Are there cars that run on methanol? ›
There were also 1,000 methanol hybrid passenger cars built by the Geely Group operating in China. Collectively, this demand represents approximately 520,000 tonnes of methanol per year. Fuel for heavy-duty vehicles – Methanol is a diesel substitute for heavy-duty vehicles.Is methanol in high demand? ›
Methanol Market Outlook
The global methanol market is expected to grow significantly in the coming years due to increasing demand from Asia-Pacific countries such as China and India. In addition, the use of methanol as a transportation fuel is expected to increase in Europe and North America.
The advantages of methanol
Methanol has several advantages as a carbon-neutral fuel. It can be produced using only renewable resources, such as sun, wind and biomass, along with carbon captured from power plants or taken directly from the air.
Of all aspects considered, water is the greenest solvent of all considering the principles of green chemistry.Which one is excellent green solvent as well as a green house? ›
CO2 is an excellent green Solvent as well as greenhouse gas.How efficient is green methanol production? ›
Energy efficiency of 75.4%–77.1% for the MSD process under load change operations.Why aren't we using methanol? ›
Yet the EPA continues to refuse to allow methanol to be used in car engines, mainly because of the reputation earned as a poisonous “wood alcohol” during Prohibition.Which solvent can replace methanol? ›
The replacement of methanol with ethanol seems to be an obvious choice given the lower toxicity and the fact that ethanol is most commonly produced from biomass via fermentation, i.e. a renewable source.Why not use methanol? ›
Methanol has an octane rating significantly higher than that for gasoline. Low cetane number makes methanol unsuitable for conventional diesel engines without modifications of fuel or engine.What is the cleanest alcohol fuel? ›
- Denatured alcohol gets my recommendation for the best all-around fuel for any stove that burns alcohol. ...
- Pure ethanol also makes a good stove fuel, but it is much more expensive than denatured because it is potable. ...
- Pure methanol (wood alcohol) burns very well in a stove.
White gas is the cleanest and preferred liquid gas, but many stoves, including the WhisperLite series and the XGK stove, run on a variety of different fuels that can be found even in remote areas around the world.Which fuel is cleanest? ›
Hydrogen gas is a clean-burning fuel, because when it is combined with oxygen in a fuel cell, hydrogen produces heat and electricity with water vapor. So, hydrogen fuel does not produce any harmful gases, so it is considered as the cleanest fuel.
Methanol acquired the name wood alcohol because it was once produced chiefly by the destructive distillation of wood. Today, methanol is mainly produced industrially by hydrogenation of carbon monoxide.How much wood does it take to make a gallon of methanol? ›
The yield of methanol from wood is about 38 percent, or about 100 gallons per ODT of wood. This yield is based on all process energy required coming from the wood waste. At a wood waste cost of $15/ODT, the selling price of methanol is estimated at $0.77/gal; at $34/ODT, the selling price is $0.96/gal.Is methanol good for the Environment? ›
According to the Environmental Protection Agency, the combustion of methanol also generally produces less deleterious greenhouse gases in the form of nitrogen oxides. Methanol quickly biodegrades.Which is better ethanol or methanol? ›
That is, ethanol has a more significant effect on improving the combustion performance of gasoline than methanol. In addition, based on the analysis results of the combustion, it is found that the blending of ethanol enlarges the reaction of notable components in gasoline.Which is more harmful methanol or ethanol? ›
Methanol is much more toxic than its close cousin ethanol and is a great example of how differences in the way our bodies handle different chemicals has an influence on both the nature and the extent of toxic effects.Is methanol more environmentally friendly than ethanol? ›
Methanol fuel is an alternative biofuel for internal combustion and other engines, either in combination with gasoline or independently. Methanol (CH3OH) is less expensive to produce sustainably than ethanol fuel, although it produces more toxic effects than ethanol and has lower energy density than gasoline.Where is methanol found in everyday life? ›
Methanol occurs naturally at low levels in fruits, vegetables, juices and other foods prepared from fruits and vegetables. It also can be present in some adhesives, paints, varnishes and other consumer products. Cigarette smoke also contains methanol.Where do people get methanol? ›
Foods such as fresh fruits and vegetables, fruit juices, fermented beverages, and diet soft drinks containing aspartame are the primary sources of methanol in the human body.What are the largest uses for methanol? ›
Methanol — the simplest alcohol (CH3OH) — is a chemical building block for hundreds of everyday products, including plastics, paints, car parts and construction materials. Methanol also is a clean energy resource used to fuel cars, trucks, buses, ships, fuel cells, boilers and cook stoves.Where is methanol produced in the US? ›
Most methanol plants are located in the Gulf Coast region. Existing pipeline infrastructure in the region will allow increasing natural gas production from the Permian Basin in western Texas and eastern New Mexico to reach methanol production facilities along the Gulf Coast.
Products that contain methanol include windshield washer fluid, gas line antifreeze, carburetor cleaner, copy machine fluid, perfumes, food warming fuel, and other types of fuels.Does methanol have more energy than gasoline? ›
Methanol contains only half the energy per gallon of gasoline but has a very high octane rating. Increased compression ratios could yield 5 to 20 percent more power. Methanol can be produced from natural gas or from wood fiber.Who are the largest US methanol producers? ›
We are Methanex: the world's largest producer and supplier of methanol to major international markets in North America, Asia Pacific, Europe and South America.Which company uses methanol? ›
Methanex Corporation, Mitsubishi Gas Chemical Company, Inc., Zagros Petrochemical Company, Celanese Corporation, and Proman, among others, are the major players in the global market for methanol.Does methanol contribute to global warming? ›
If methanol is made from natural gas, it will produce about as much carbon dioxide per unit of energy used as gasoline — with the fuel efficiency rollback, that means more carbon dioxide per mile driven. If methanol is made from coal, it will DOUBLE carbon dioxide emissions, even if efficiency remains the same.Why is methanol bad for the environment? ›
Methanol may affect animals, birds and fish, leading to their death. Exposure can also cause low growth rate in plants. Long term methanol exposure can affect the fertility of biota and affect their appearance or behaviour. Methanol does not concentrate or accumulate in fish.What is the future price of methanol? ›
Looking forward, we estimate it to trade at 2809.11 in 12 months time.What is the cost of a gallon of methanol? ›
VP M1 METHANOL: $6 PER GALLON. VP 110: $14 PER GALLON.What is the cost of methanol per gallon? ›
Because the energy content of M100 is half that of gasoline on a liquid volume basis, the equivalent total production cost on a gaso- line basis is about $0.70/gallon.How much does green fuel cost? ›
The live GreenFuel price today is $0.003001 USD with a 24-hour trading volume of $0.276033 USD.
|1 litre bottle||Rs 161|
|2.5 litres bottle||Rs 380|
China is the world's leading importer country of methanol, also known as methyl alcohol.Is methanol a better fuel than gasoline? ›
Methanol can be an alternative to conventional transportation fuels. The benefits of methanol include: Lower production costs—Methanol is cheap to produce relative to other alternative fuels. Improved safety—Methanol has a lower risk of flammability compared to gasoline.Why are methanol prices so high? ›
The most important factor influencing the price of methanol is the cost of feedstock. Methanol is produced from natural gas, coal, or biomass.What is the highest methanol price? ›
Historically, Methanol reached an all time high of 4278.00 in October of 2021. This page includes a chart with historical data for Methanol. Methanol - data, forecasts, historical chart - was last updated on April of 2023.How much methanol is legal? ›
It is also acceptable against the general limit for naturally occurring methanol, which is 10 g/L ethanol, corresponding to 0.4% vol methanol in a 40% vol alcohol spirit  . ...How much is 1 gallon of gas in USA? ›
Basic Info. US Retail Gas Price is at a current level of 3.765, down from 3.769 last week and down from 4.17 one year ago. This is a change of -0.11% from last week and -9.71% from one year ago. The US Retail Gas Price is the average price that retail consumers pay per gallon, for all grades and formulations.What is the cheapest fuel type? ›
For a start, petrol is a cheaper fuel than diesel, and petrol-engined cars tend to be cheaper to buy than the equivalent diesel model. Those advantages have to be offset against the fact that petrol cars have higher fuel consumption (worse mpg) than diesels, so you'll have to fill your tank more often.What is the best green fuel? ›
Ethanol. Ethanol is a widely used renewable fuel made from corn and other plant materials. It is blended with gasoline for use in vehicles.Why is methanol illegal? ›
Methanol was used as an automobile coolant antifreeze in the early 1900s. As of May 2018, methanol was banned in the EU for use in windscreen washing or defrosting due to its risk of human consumption as a result of 2012 Czech Republic methanol poisonings.
Methanol does however have a darker side. Since it is less expensive than ethanol and readily available, corrupt manufacturers of fake spirits will often use it as an additive, often in fatal amounts.Is methanol cheaper to produce than ethanol? ›
Methanol (CH3OH) is less expensive to produce sustainably than ethanol fuel, although it produces more toxic effects than ethanol and has lower energy density than gasoline.