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Methanol Market Size, Share, and Forecast Analysis to 2032
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.
The global methanol market size was valued at USD 31.26 billion in 2023 and is projected to grow
from USD 32.70 billion in 2024 to USD 46.32 billion by 2032, exhibiting a CAGR of 4.5% during the
forecast period.
Tariff Impact Analysis for Methanol Market:
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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.
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

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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.
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.)
 SABIC (Saudi Arabia)
 Mitsubishi Gas Chemical Company, Inc. (Japan)
 Zagros Petroleum(Iran)
 PETRONAS (Malaysia)
 Mitsui & Co., Ltd. (Japan)
 Celanese Corporation (U.S.)
KEY INDUSTRY DEVELOPMENTS:

June 2018: Southern Chemical Corporation (SCC), Proman AG, and Helm AG formed a joint
venture named Helm Proman Methanol AG to accelerate their methanol-based marketing
activities. The newly formed company is headquartered in Switzerland. SCC will hold 5%
share, while Proman AG will hold 38% and Helm AG will have 57% shares.
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