Methanol-to-Olefins Technology: A Game Changer for the Petrochemical Industry

 According to the new market research report "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", published by MarketsandMarkets™, the Methanol Market size is expected 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.

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Browse in-depth TOC on "Methanol Market"

299 – Tables

56 – Figures

336 – Pages

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Methanol are used across industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles) and Solvents. In the Methanol Market, automotive is the key end-use industry owing to the wide applications of these methanol.

The solvents end-use industry is expected to register the highest CAGR in the global Methanol Market during the forecast period.

The solvents will continue to highest growing industry in the Methanol Market. Due to the huge demand from the pharmaceutical, construction, and paints & coating end-use industries. Methanol is the most used solvent in the construction and paint & coating industries. Methanol is used as a laboratory solvent, which is useful for HPLC, UV/VIS spectroscopy, and LCMS due to its low UV cutoff.

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APAC is expected to hold the largest market share in the global Methanol Market during the forecast period.

Asia Pacific accounted for the largest share of the Methanol Market in 2020. Factors such as the rapidly increasing consumption of methanol in the automotive, construction and pharmaceutical industries in countries such as China, Japan, India, South Korea and Australia have led to an increased demand for Methanol in the Asia Pacific region.

Methanol Market Key Players

Celanese Corporation (Texas), BASF SE (Germany), Methanex Corporation (Canada), SABIC (Saudi Arabia), PETRONAS (Malaysia), Mitsubishi Gas Chemical Company (Japan), and Mitsui & Co., Ltd. (Japan) are the leading methanol manufacturers, globally.

Methanex Corporation

Methanex Corporation is one of the leading manufacturers of methanol. The company has a geographic presence in North America, Europe, Asia Pacific, South America, and the Middle East. Methanol manufactured by company is used in building materials, foams, resins, and plastics. In April 2023, Methanex Corporation and Suez Methanol Derivatives (SMD) signed an agreement for a new methanol pipeline construction.

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Zagros Petrochemical Company

Zagros Petrochemical Company is one of the largest methanol companies is Iran. The company manufactures methanol that is used in manufacturing formaldehyde, acetic acid, and many other products.  In March 2023, Zagros Petrochemical Company signed an agreement with Dalian Petrochemical Company to construct a methanol-to-synthetic ethanol conversion plant.

SABIC

SABIC engages in the manufacture, marketing and distribution of petrochemicals, polymers and plastics, and agricultural nutrients. The company is one of the key players in the methanol market and has a geographic presence in more than 100 countries. In September 2021, SABIC formed a joint venture with ExxonMobil to strengthen its petrochemical manufacturing presence in North America.