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Europe Methanol Market Size To Grow At A CAGR Of 3.6% In The Forecast Period Of 2023-2028
SHERIDAN, WYOMING, UNITED STATES, February 4, 2023 /einpresswire.com / -- The 'europe methanol market size , Share, Price, Trends, Growth, Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the Europe methanol market, assessing the market on the basis of its segments like feedstock, application, and major country.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter's Five Forces Models.
Europe Methanol Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
. Historical Market Size (2022): 10.77 million tons
. Forecast CAGR (2023-2028): 3.6%
. Forecast Market Size (2028): 13.25 million tons
The Europe methanol market has been witnessing growth owing to the increasing demand from various end-use sectors including packaging, textile, plastics, construction, and chemicals, among others. Methanol is utilised as a feedstock to manufacture several chemicals with widespread applications like adhesives, foams, plywood subfloors, solvents, and windshield washer fluid.
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Methanol is being increasingly used as an energy source owing to several advantages, such as low cost, improved safety, adaptability, efficient combustion, wide availability, and ease of delivery. Furthermore, the production of renewable methanol from bio-syngas, carbon dioxide captured from the atmosphere, municipal solid waste, and waste CO2 is significantly increasing in Europe, supporting the Europe methanol market.
Europe Methanol Market Segmentation
Methanol is a water-soluble and readily biodegradable chemical with applications in a wide range of products used on a daily basis including plastics, fuels, paints, and cosmetics. It is also used as an energy resource in the marine, electricity, and automotive sectors and is an emerging renewable energy resource.
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Based on feedstock, the market is segmented into:
. Natural Gas
. Coal Gasification
. Renewable Sources
On the basis of application, the market is divided into:
. Formaldehyde
. Methanol to Olefins (MTO)
. Methyl Tert-Butyl Ether (MTBE) and Dimethyl Ether (DME)
. Gasoline Blending
. Acetic Acid
. Methyl Methacrylate (MMA)
. Methylamines
. Others
Based on country, the market is categorised into:
. United Kingdom
. Nordics
. Germany
. France
. Others
Europe Methanol Market Trends
The robust growth of various end use sectors and usage as a marine fuel are some of the most dynamic and important areas of the methanol energy revolution. The International Maritime Organization (IMO), based in the United Kingdom, imposed a new global sulphur limit in January 2020 that decreased sulphur in fuels from 3.5% to 0.5% due to growing environmental concerns and increasing emissions. It is anticipated that the usage of methanol as a marine fuel will assist the maritime industry in meeting the strict emission regulations established by the IMO.
Partnerships between players for technological advancements and innovations are further aiding the growth of the Europe methanol market. For instance, The German State of Brandenburg signed a three-year agreement with Advent Technologies Holdings, Inc. in September 2022, for the supply of methanol-powered fuel cell systems to be installed in crucial communication sites. Over the next three years, Advent's methanol-powered fuel cell systems are anticipated to serve as a backup power source for the BOS digital radio network in Brandenburg, replacing diesel-powered emergency power systems at numerous locations.
Furthermore, the shift towards e-methanol is significantly altering the trends in the Europe methanol market. Several expansions and investments in e-methanol are also supporting the market growth. World's largest e-methanol developer European Energy is additionally funded by Danish Green Investment Fund (DGIF) for its upcoming Power-to-X (PtX) facility in Kassø making it the largest e-methanol facility in the world.
Key Market Players
The major players in the Europe methanol market report are:
. Methanex Corporation
. Proman GmbH
. SABIC
. OCI N.V.
. Mitsubishi Gas Chemical Europe
. Mitsui & Co., Ltd.
. LyondellBasell Industries Holdings B.V.
. Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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