Methanol Market SWOT Analysis and Development Plans in Forthcoming years by 2028 |
Ngày đăng: 02-03-2023 |
Ngày cập nhật: 02-03-2023
The global methanol market size is set to gain traction from the urgent need to lower environmental pollution caused by the surging usage of heavy fuels, such as diesel and gasoline. Pollution further leads to global warming and climate change. Statista mentioned that the earth’s surface temperature was 0.98 Celsius degrees warmer in 2020 than the 20th Century average. This information is published by Fortune Business Insights™ in a report, As per the report, the Methanol market stood at USD 27.95 billion in 2020. It is projected to grow from USD 28.74 billion in 2021 to USD 39.18 billion in 2028 at a CAGR of 4.5% during the forecast period.
Source:
https://www.fortunebusinessinsights.com/industry-reports/methanol-market-101552
Drivers & Restraints-
Surging Usage as a Precursor in Plastics and Textiles to Bolster Growth
The high demand for the product from the construction and automotive industries is set to surge its usage across the globe. The chemical compound is often used in insulation materials, adhesives, textiles, and plastics as a precursor. However, the consumption of inhalation of this chemical can result in death, accumulation of acids in blood, and blindness. It may obstruct the methanol market growth in the near future.
Regional Insights-
Asia Pacific to Remain at Forefront Stoked by Expansion of Construction Industry
Geographically, in 2020, Asia Pacific held USD 17.60 billion in terms of revenue. It is set to be the major contributor to the growth of the industry because of the rapid expansion of the construction and automotive industries. In North America, on the other hand, the higher demand for this chemical compound from green fuel manufacturers would propel growth. Europe is likely to grow considerably on account of the expansion of the automotive industry.
Get Your Customized Research Report
https://www.fortunebusinessinsights.com/enquiry/customization/methanol-market-101552
Segmentation-
Acetic Acid Segments Generated 5.5% Share in 2020: Fortune Business Insights™
By derivatives, the market is segregated into formaldehyde, acetic acid, MTBE, DME, gasoline blending, biodiesel, methanol to olefins (MTO)/methanol to propylene (MTP), solvent, and others. Among these, the MTO/MTP segment exhibits the highest CAGR in the near future, backed by the high demand for polyolefins from a wide range of end-user industries. The acetic acid segment earned 5.5% in terms of the methanol market share in 2020.
Competitive Landscape-
Key Players Focus on Forming Joint Ventures with Others to Intensify Competition
The global market contains many companies, out of which, most of them are participating in acquisitions, mergers, and joint venture strategies. A few others are focusing more on expanding their production capacities to meet the high consumer demand.
Fortune Business Insights profiles some of the prominent companies operating in the Methanol Market. They are as follows:
Source:
https://www.fortunebusinessinsights.com/industry-reports/methanol-market-101552
Drivers & Restraints-
Surging Usage as a Precursor in Plastics and Textiles to Bolster Growth
The high demand for the product from the construction and automotive industries is set to surge its usage across the globe. The chemical compound is often used in insulation materials, adhesives, textiles, and plastics as a precursor. However, the consumption of inhalation of this chemical can result in death, accumulation of acids in blood, and blindness. It may obstruct the methanol market growth in the near future.
Regional Insights-
Asia Pacific to Remain at Forefront Stoked by Expansion of Construction Industry
Geographically, in 2020, Asia Pacific held USD 17.60 billion in terms of revenue. It is set to be the major contributor to the growth of the industry because of the rapid expansion of the construction and automotive industries. In North America, on the other hand, the higher demand for this chemical compound from green fuel manufacturers would propel growth. Europe is likely to grow considerably on account of the expansion of the automotive industry.
Get Your Customized Research Report
https://www.fortunebusinessinsights.com/enquiry/customization/methanol-market-101552
Segmentation-
Acetic Acid Segments Generated 5.5% Share in 2020: Fortune Business Insights™
By derivatives, the market is segregated into formaldehyde, acetic acid, MTBE, DME, gasoline blending, biodiesel, methanol to olefins (MTO)/methanol to propylene (MTP), solvent, and others. Among these, the MTO/MTP segment exhibits the highest CAGR in the near future, backed by the high demand for polyolefins from a wide range of end-user industries. The acetic acid segment earned 5.5% in terms of the methanol market share in 2020.
Competitive Landscape-
Key Players Focus on Forming Joint Ventures with Others to Intensify Competition
The global market contains many companies, out of which, most of them are participating in acquisitions, mergers, and joint venture strategies. A few others are focusing more on expanding their production capacities to meet the high consumer demand.
Fortune Business Insights profiles some of the prominent companies operating in the Methanol Market. They are as follows:
- Methanex Corporation (Canada)
- HELM AG (Germany)
- Southern Chemical Corporation (U.S.)
