(MENAFN- America News Hour) Methanol Market: Global Demand Analysis & Opportunity Outlook 2030 ” which delivers detailed overview of the global methanol market in terms of market segmentation by feedstock, by derivatives, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Methanol is a light combustible liquid, which is also known as wood alcohol and methyl alcohol. It produces less pollution and majorly created by coal, natural gas and renewable resources which make it safe and environment friendly product. Methanol contains a number of physical properties, which makes it ideal for the transportation sector also.
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The
methanol market
is anticipated to grow by a significant CAGR of around 7% over the forecast period, i.e., 2020-2030. The feedstock segment is segmented into natural gas and coal. The segment for natural gas is anticipated to hold the leading share in the market during the forecast period owing to the increasing demand for natural gas from several regions around the world.
In the statistics by theU.S. Energy Information Administration (EIA), total consumption of natural gas in the United States peaked to 31014345 MMcf in the year 2019 from 24086797 MMcf in the year 2010.
Based on region, the methanol market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia pacific is estimated to hold the largest share on account of presence of nations, such as China, India and Japan, where there are several end user industries that use methanol.
Rising Involvement of the Government in the Promotion of Usage of Methanol
Increasing promotional awareness for methane and its usage by the government of nations around the world so as to reduce environmental pollution, coupled with the rising demand for methanol from several end user industries are some of the factors anticipated to drive the growth of the global methanol market.
However, the cost related to the conversion of methane into liquid formis expected to hamper the growth of methanol market over the forecast period.
Major players include in the global Methanol market:
Gas Chemical Company, Inc. Valero Marketing and Supply Company(NYSE:VLO), Celanese Corporation(NYSE:CE), Methanol Holdings (Trinidad) Limited, Bp p.l.c. (LON: BP), Shell International B.V. CNOOC Limited (HKG: 0883).
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