Methanol Market Shares, Growth Opportunities and Challenges, 2014 to 2024
The global methanol market was estimated at USD 21.4 billion in 2016 and is expected to witness significant growth on account of the rising demand for petrochemical derived products such as olefins, adhesives, detergents, solvents, plastics, lubricants and fibers.
(firmenpresse) - The global methanol market is estimated to reach USD 100.3 billion by 2024, primarily driven by its widespread of applications in adhesives, paints, and plastics. Asia Pacific is the fastest growing market in terms of volume, growing at a CAGR of 8.6% and is expected to maintain its dominance over the forecast period.
The rise in demand for petrochemicals and the advancement of new industrial segments are projected to offer new opportunities for the methanol market during the forecast period. In Asia Pacific region, China is the largest and the fastest growing market and is expected to show the same trend over the forecast period due to the abundance of coal and natural gas available in China.
The growth of methanol market is mainly due to the rise in demand for clean burning fuel and fuel substitutes such as biodiesel. Additionally, increase in R&D activities for the usage of methanol as an alternative to gasoline products for vehicles is projected to drive the demand for methanol.
Methanol by-products like formaldehyde, acetic acid, DME, gasoline is utilized in several industrial applications such as construction & building, production of petrochemicals, pharmaceuticals, synthesis of chemicals and in the automotive sector. Formaldehyde dominated the global market contributing to USD 6.2 billion in 2016. Formaldehyde is used to produce wood products such as plywood and adhesives.
The high demand for formaldehyde is owing to its high purity, low cost, and the abundant use of formaldehyde in various chemical reactions. Acetic acid and formaldehyde are widely used by-products of methanol. DME and fuel blending have also been recognized as enormously profitable application areas such as clean fuel for transportation, cooking, heating and power generation and is expected to record a 9.0% CAGR during the forecast period.
With diminishing crude oil reserves, demand for substitute transportation fuel has stimulated the market for blended and clean fuel such as methanol and its derivatives. It is a potential replacement for traditional transportation fuel such as diesel and petrol, which is projected to fuel the market for methanol over the forecast period. However, with the availability of cheap and low-cost substitutes and alternatives of methanol such as bio ethanol or ethanol fuel, which bounds the methanol consumption, and constant fluctuation in the prices of crude oil would impact the affordability of the chemical, and its derivatives can hinder the growth of the methanol industry during the forecast period.
Hexa Research has segmented the global methanol market based on end-use and region:
Segmentation by End-Use, 2014 - 2024 (Kilo Tons) (USD Million)
Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
& Africa
Segmentation by key country, 2014 - 2024 (Kilo Tons) (USD Million)
Key players analyzed:
& Co., Ltd
Themen in dieser Pressemitteilung:
methanol-market
methanol-market-growth
methanol-market-application
methanol-industry
methanol
chemicals
chemical-industry
Unternehmensinformation / Kurzprofil:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales(at)hexaresearch.com
Website - https://www.hexaresearch.com/
Datum: 20.07.2018 - 09:21 Uhr
Sprache: Deutsch
News-ID 1538796
Anzahl Zeichen: 3980
contact information:
Contact person: Ryan Shaw
Town:
Felton
Phone: +1-800-489-3075
Kategorie:
Chemical industry
Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 20.07.2018
Anmerkungen:
Diese Pressemitteilung wurde bisher 645 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Methanol Market Shares, Growth Opportunities and Challenges, 2014 to 2024
"
steht unter der journalistisch-redaktionellen Verantwortung von
Hexa Research (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
