The global methanol market 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, reflecting a CAGR of about 4.5% during the forecast period.
Methanol serves as a key platform chemical used both as feedstock for derivatives—such as formaldehyde, acetic acid, and MTBE—and as an energy carrier in fuels like DME and biodiesel. The market growth is driven by rising demand in construction, automotive, and electronics sectors.
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Segmental Insights
By Feedstock
- Natural Gas: Primary global feedstock; efficient and lower in carbon intensity compared with coal.
- Coal: Major in China; cost-competitive but faces environmental constraints.
- Biomass & Renewables: Currently a minor segment but strategically important for “green methanol” transition.
By Derivative
- Formaldehyde: Largest derivative, driven by demand in construction materials and adhesives.
- MTO/MTP: Fastest-growing segment, used to produce olefins and propylene for plastics manufacturing.
- Acetic Acid, MTBE, and DME: Stable growth supported by fuel and solvent industries.
By Application
- Construction: High usage of formaldehyde resins and adhesives.
- Automotive: Demand from fuel blending and plastics components.
- Electronics: Solvent and coating uses support niche but steady demand.
Drivers & Restraints-
Key Drivers
- Derivative Demand Growth: Expanding consumption of formaldehyde and acetic acid in adhesives, plastics, and textiles.