According to a Triton Market Research report, the global methanol market, which accounted for $34,547 million in 2018, is anticipated to register a CAGR of 5.42% by the year 2027.
A recent study by Triton Market Research titled ‘Global Methanol Market,’ covers the Global Analysis and Forecast for 2019-2027 by End-user (Automotive, Electronics, Paints & Coatings, Construction, Other End-users), Derivatives (Formaldehyde, Acetic Acid, MBTE & TAME, Gasoline, DME, Other Derivatives), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
Methanol is a volatile, toxic, colorless, and flammable liquid processed using synthesis gas or syngas, which is a mixture of carbon monoxide and hydrogen. It is used as a fuel, solvent, anti-freeze, and a denaturant for ethanol. In earlier days, methanol was formed as a byproduct due to the destructive distillation of wood; and hence, is frequently called ‘wood alcohol.’
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According to the report, the global methanol market is expected to generate $56,151 million by 2027, registering a CAGR of 5.42% over the projected period from 2019 to 2027. The primary factors driving this market include the need for conventional fuels for transportation, the growth in demand for petrochemicals, the rising adoption of methanol-to-olefins (MTO) technology, and government initiatives to promote methanol as an alternative fuel. However, the raw material scarcity and the increasing usage of fuel-grade ethanol or bioethanol in place of methanol are impeding its growth over the forecast period.
Based on end-user, the methanol market is categorized into automotive, electronics, paints & coatings, construction, and other end-users. While according to the derivatives spectrum, the market is segmented according to formaldehyde, acetic acid, MBTE & TAME, gasoline, DME, and other derivatives.
Considering the regional landscape, the Asia-Pacific methanol market is expected to witness accelerated growth over the forthcoming years. It is also estimated to be the largest market, globally, over the forecast period. This growth is attributable to the increased demand from the furniture, textile, construction, and automotive industries. Other factors supplementing market growth include the local market development, in tandem with the intensified competition among manufacturers present in the developing countries of APAC.
The primary competitors profiled in this report on the methanol market include Celanese Corporation, METHANEX CORPORATION, MITSUBISHI GAS CHEMICAL COMPANY INC, BASF SE, Valero Marketing and Supply Company, and Saudi Basic Industries Corporation (SABIC).
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Question & Answer: Methanol Market
Question 1: Why is the methanol market registering growth?
Answer: The primary factors driving the market include the need for conventional fuels for transportation, the growth in demand for petrochemicals, the rising adoption of methanol-to-olefins (MTO) technology, and government initiatives to promote methanol as an alternative fuel.
Question 2: What factors are expected to hinder the methanol market growth?
Answer: The raw material scarcity and the increasing usage of fuel-grade ethanol or bioethanol in place of methanol are impeding its growth over the forecast period.
Question 3: How is the Asia-Pacific impacting the methanol market outlook?
Answer: Considering the regional landscape, the Asia-Pacific methanol market is expected to witness accelerated growth over the forthcoming years. It is also estimated to be the largest market, globally, over the forecast period. This growth is attributable to the increased demand from the furniture, textile, construction, and automotive industries. Other factors supplementing market growth include local market development, in tandem with intensified competition among manufacturers present in the developing countries of APAC.
Question 4: Which companies constitute the competitive landscape of the methanol market?
Answer: The primary competitors profiled in this report on the methanol market include Celanese Corporation, METHANEX CORPORATION, MITSUBISHI GAS CHEMICAL COMPANY INC, BASF SE, Valero Marketing and Supply Company, and Saudi Basic Industries Corporation (SABIC).
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Global Waste-to-Energy (WtE) Market
The global waste-to-energy market is set to witness revenue growth at $53.75 billion by 2027, exhibiting a CAGR of 6.09% during the forecasting years 2019-2027.
The rising demand for energy, coupled with the increasing need for energy security, is set to accelerate the market growth. Whereas, substantial investments made for the development of new waste-to-energy projects will complement the business outlook. Rapid industrialization and urbanization are leading to an increase in municipal waste generated. This makes larger amounts of feed available for WtE processes. Another crucial factor driving the WtE market is the fall in the number of landfill sites. The industry has shifted its focus towards developing WtE technologies in order to compensate for the decreasing landfill sites.
The huge amount of data related to sustainable waste management techniques available generates immense opportunity for data analytics & Big Data companies to optimize the waste management value chain. This will further lead to the use of waste-to-energy processes at a faster pace. Besides, biological WtE technologies are estimated to experience a faster growth rate over the forecast period, as new technologies such as anaerobic digestion become commercially viable and available in the market.
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