The scope of our recent study on the "Methanol Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Derivative [Formaldehyde, Acetic Acid, Methanol-to-Olefins (MTO) / Methanol-to-propylene (MTP), Methyl Tertiary-Butyl Ether (MTBE), Methyl Methacrylate (MMA), Biodiesel (Gasoline Blending), Dimethyl Ether (DME), and Others] End-User Industry (Automotive, Construction, Electronics, Packaging, Pharmaceuticals, Paints and Coatings, and Others)" consists of the factors fuelling the market growth, revenue estimation and forecast, and market share analysis. It also includes the identification of significant market players along with their key developments.

The methanol market is projected to reach US$ 41,974.76 million by 2028 from US$ 28,114.27 million in 2021; it is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Methanol plays a crucial role in chemical synthesis and is widely used in the production of various compounds such as synthetic dyestuffs, pharmaceuticals, resins, and perfumes. It is also utilized as a solvent, automotive antifreeze, and rocket fuel. Additionally, methanol is a clean-burning fuel that has the potential to replace gasoline in automobiles.

The methanol market is categorized into different derivatives, including formaldehyde, acetic acid, methanol-to-olefins (MTO) / methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. In 2020, the formaldehyde segment was the largest contributor to the market. This can be attributed to the widespread use of formaldehyde resins in the automotive industry and as a preservative in food, cosmetics, and medicine. Due to the vast application potential of formaldehyde, this segment is expected to experience significant demand across various industries during the forecast period.

The global methanol market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). In 2020, Asia Pacific accounted for the largest share of the market. The key drivers of the market in this region are the growth of construction and automotive sectors. Moreover, methanol-to-olefins and methanol-to-propylene (MTO/MTP) applications are gaining momentum. The MTOs are the most economical options and fulfill the need for olefins in the market.

Impact of COVID-19 Pandemic on Methanol Market

The COVID-19 pandemic has had a detrimental effect on the methanol market due to its impact on various end-use industries across the world. The construction and engineering sectors, for instance, have experienced a setback, leading to project closures and a global financial recession. Despite these challenges, the market is expected to experience growth in the near future, driven by increasing demand for methanol in various applications such as pharmaceutical, paints and coatings, and automotive.

Methanol Market, by region, 2020

The "Global Methanol Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The market is categorized on the basis of derivative, end-user industry, and geography. Based on derivative, the methanol market is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO) / methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. The market, by end-user industry, is segmented into automotive, construction, electronics, packaging, pharmaceuticals, paints and coatings, and others. The methanol market, by geography, is categorized into five main regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

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