Latest News- Methanol Market: Formaldehyde is expected to lead the Derivative Type segment during 2025-2029

The Methanol Market is being driven by Rising demand for formaldehyde and its derivatives

The Methanol Market is expected to grow at a CAGR of 3.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6832.1 million. Methanol is an indispensable chemical feedstock in the chemical industry, serving as the foundation for the production of numerous petrochemicals. Notably, methanol is utilized to manufacture essential chemicals such as formaldehyde, acetic acid, and MTBE. These chemicals play pivotal roles in the production of plastics, adhesives, resins, solvents, and other vital products. Moreover, Methanol to Olefins (MTO) technology has emerged as a prominent method to produce ethylene and propylene from methanol. These olefins are integral to the production of plastics and other chemical products. Additionally, methanol is a primary feedstock for Dimethyl Ether (DME), a clean-burning alternative fuel and aerosol propellant in consumer products. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Derivative Type
  • Formaldehyde
  • Gasoline
  • Acetic acid
  • DME
  • Others
• End-user
  • Automotive
  • Construction
  • Paints and coatings
  • Electronics
  • Others
• Feedstock
  • Natural gas
  • Coal
• Geography
  • APAC
    • China
    • India
  • Europe
    • Germany
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for formaldehyde and its derivatives
• Increasing adoption of various technology
• Increasing demand for chemicals in APAC

However, the market also witnesses some limitations, which are as follows:

• Fluctuating methanol prices
• Government regulations and policies related to methanol production
• Emerging competition from alternative fuels

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Market Scope in Methanol Market Research Report

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Research Analysis Overview

The Methanol market encompasses various aspects, including the conversion of natural gas to methanol through syngas production, which impacts greenhouse gas emissions. Renewable energy sources are increasingly being integrated into methanol production as part of the energy transition. The circular economy is driving the production of derivatives like dimethyl ether and methyl tert-butyl ether. Methanol is also being explored as a fuel for jet engines, methanol fuel cells, and vehicles, leading to the development of infrastructure such as pipelines, terminals, bunkering, and shipping. Safety standards, handling procedures, and storage tanks are crucial components of the methanol market. Innovations in methanol-to-jet fuel, methanol fuel additives, and methanol performance are shaping the market dynamics and supply chain.

Market Research Overview

The global commodity chemicals market encompasses businesses specializing in the production of industrial and fundamental chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this sector excludes chemical manufacturers producing diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio's market analysis, the expansion of the global commodity chemicals market will be influenced by several key factors. One significant factor is the escalating demand for plastic packaging. Given that plastic is the predominantly used material in the packaging industry worldwide, the increasing preference for lightweight and corrosion-resistant materials has instigated continuous advancements in the market, consequently affecting the utilization of chemicals in the production of plastic packaging materials. Furthermore, the market growth is propelled by the increasing application of methanol in various industries, including methanol synthesis for fuel production, methanol blending in gasoline, and the manufacture of methanol derivatives such as formaldehyde, acetic acid, and methyl tert-butyl ether (MTBE).. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/