VINACHEM

Increasing demand for methanol for various derivatives such as formaldehyde, MTO/MTP, gasoline, among others is propelling the growth of this market. By feedstock, the coal segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028.

Increasing demand for methanol for various derivatives such as formaldehyde, MTO/MTP, gasoline, among others is propelling the growth of this market.

By feedstock, the coal segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028.

Based on feedstock, the coal is estimated to be the fastest-growing segment during the forecast period.For large scale methanol production, coal can be one of the sustainable raw materials.

The easy availability and low cost are another factors that are driving the coal feedstock demand.

By derivative, the MTO/MTP segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028.

Based on derivative, the MTO/MTP is estimated to be the fastest-growing segment during the forecast period.The demand of olefins is increasing in petrochemical industry.

MTO is used to manufacture olefins thus the demand for MTO plants is also increasing in countries such as China.Propylene production is the main goal of the MTP process, a particular variation of the MTO process.

It includes the same procedures as the MTO method for converting methanol into propylene.

By sub derivative, the olefins segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028.

Based on sub derivative, the olefins is estimated to be the fastest-growing segment during the forecast period.In the construction industry there is high demand of olefins.

The production of chemical and polymer products such as plastic, detergent, glue, rubber, and food packaging extensively uses olefins as a raw material. By using methanol as a feedstock rather than conventional fossil fuel-based sources, the MTO and MTP processes offer other ways to produce olefins.

By end-use industry, the solvent segment is estimated to be the fastest-growing segment of methanol market during 2023 to 2028.
Based on end-use industry, the solvent is estimated to be the fastest-growing segment during the forecast period.Due to the significant growth in the construction industry, Asia Pacific dominates the methanol market in the solvents end-use industry segment.

Methanol is frequently used as a solvent in laboratories for numerous analytical and research reasons. Methanol is frequently used in the laboratory because of its affordability and compatibility with numerous analytical procedures.

The methanol market in Asia Pacific region is projected to witness the highest CAGR during the forecast period.

Asia Pacific region is projected to register the highest CAGR in the methanol market from 2023 to 2028.The increasing demand for UF/PF resins and increasing methanol usage as an emerging fuel for automobiles are the key factors expected to drive the demand for methanol during the forecast period.

China has been the Asia Pacific region’s biggest consumer of methanol.The nation’s rapid industrialisation, expanding infrastructure, and growing chemical industry have generated a considerable need for methanol.

Applications include the manufacturing of formaldehyde, acetic acid, olefins, and fuel blending have driven methanol consumption in China.  – Yahoo News –