According to Technavio’s latest market research study, the global methanol market is expected to grow at a CAGR of around 11% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global methanol market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user industry type
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The top three revenue contributing end-user industry segments are discussed below:
Global methanol market in the automotive industry: In the automotive industry, methanol is combined with gasoline and used in the internal combustion engines of vehicles. Conventional fuels are being successfully replaced with more efficient alternatives like ethylene glycol and propylene. The rising use of methanol derivatives such as biodiesel, gasoline blended MTBE/TAME, and DME is anticipated to propel the growth of the global methanol market in the automotive industry.
“Gasoline blending is registering an increasing adoption in China from the fuels segment. The demand for other types of fuels such as DME, biodiesel, and MTBE and TAME will also increase in the next five years owing to the increasing preference for emission-controlled fuel,” says Ajay Adikari, a lead analyst at Technavio for research on specialty chemicals.
Global methanol market in the construction industry: The formaldehyde derivative segment is expected to drive the demand for methanol from the construction sector. Formaldehyde is commonly used in the production of adhesives, which are needed for manufacturing construction board products such as plywood. In developed countries, such as the US and Germany, the demand for methanol from the construction industry is influenced by the increasing usage of engineering board products such as oriented strand board (OSB).
Global methanol market in the electronics industry: Methanol is an ideal alternative to oil as a fuel for backup generators. The applications of methanol in the power electronics sector are increasing significantly owing to its eco-friendly nature. The application of methanol in power generation is likely to drive the demand for methanol from the electronics industry during the forecast period.
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The top vendors operating in the global methanol market are:
- Celanese
- Methanex
- PETRONAS
- SABIC
Other prominent vendors in the market include BASF, Methanol Holdings (Trinidad), and Reliance Industries.
A more detailed analysis is available in the Technavio report titled, ‘Global Methanol Market 2016-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Direct Methanol Fuel Cell Market 2016-2020
- Global Ethanol-based Vehicle Market 2016-2020
- Global Biofuels Market 2016-2020
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