GITNUX REPORT 2024

Global Methanol Industry Trends: Production, Demand, and Market Projections

Exploring the Dynamic Growth and Diverse Applications of the Global Methanol Industry in 15 Stats

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

Formaldehyde production accounts for about 30% of global methanol consumption

Statistic 2

Methanol-to-Olefins (MTO) technology is expected to drive significant growth in methanol demand

Statistic 3

The automotive sector accounts for about 15% of global methanol consumption

Statistic 4

The marine fuel sector is projected to consume 5 million tons of methanol annually by 2025

Statistic 5

Biodiesel production accounts for about 3% of global methanol consumption

Statistic 6

Methanol use in fuel cells is expected to grow at a CAGR of 15% from 2020 to 2027

Statistic 7

Methanol demand for acetic acid production is expected to grow at a CAGR of 4.5% from 2020 to 2027

Statistic 8

Methanol use in wastewater treatment is growing at a CAGR of 6% from 2020 to 2027

Statistic 9

The automotive antifreeze sector accounts for about 7% of global methanol consumption

Statistic 10

Methanol use in biodiesel production is growing at a CAGR of 5.5% from 2020 to 2027

Statistic 11

Methanol demand for MTBE production is expected to grow at a CAGR of 3.5% from 2020 to 2027

Statistic 12

Methanol use in direct methanol fuel cells (DMFC) is growing at a CAGR of 20% from 2020 to 2027

Statistic 13

Methanol use in the construction industry is growing at a CAGR of 4% from 2020 to 2027

Statistic 14

Methanol demand for dimethyl terephthalate (DMT) production is expected to grow at a CAGR of 3% from 2020 to 2027

Statistic 15

Methanol use in the electronics industry is growing at a CAGR of 5.5% from 2020 to 2027

Statistic 16

Methanol demand for methylamines production is expected to grow at a CAGR of 4.5% from 2020 to 2027

Statistic 17

Methanol use in the pharmaceutical industry is growing at a CAGR of 6% from 2020 to 2027

Statistic 18

Methanol use in the textile industry is growing at a CAGR of 4.5% from 2020 to 2027

Statistic 19

Methanol demand for chloromethanes production is expected to grow at a CAGR of 3.5% from 2020 to 2027

Statistic 20

Methanol use in the paint and coatings industry is growing at a CAGR of 5% from 2020 to 2027

Statistic 21

Methanol demand for methyl methacrylate (MMA) production is expected to grow at a CAGR of 4% from 2020 to 2027

Statistic 22

Methanol use in the energy storage sector is growing at a CAGR of 10% from 2020 to 2027

Statistic 23

Methanol demand for silicone production is expected to grow at a CAGR of 5% from 2020 to 2027

Statistic 24

The Asia Pacific region accounted for over 65% of global methanol consumption in 2019

Statistic 25

Europe's methanol consumption was approximately 10 million tons in 2020

Statistic 26

China's methanol consumption is projected to reach 95 million tons by 2025

Statistic 27

The methanol market is expected to grow at a CAGR of 5.5% from 2020 to 2027

Statistic 28

Methanol demand for fuel applications is expected to grow at a CAGR of 7.9% from 2020 to 2027

Statistic 29

The global methanol market size was valued at USD 24.23 billion in 2019

Statistic 30

Methanol prices averaged $295 per metric ton in 2020

Statistic 31

The global methanol market is expected to reach USD 39.18 billion by 2027

Statistic 32

The dimethyl ether (DME) market, a methanol derivative, is expected to reach USD 9.7 billion by 2025

Statistic 33

The global bio-methanol market is expected to reach USD 3.5 billion by 2025

Statistic 34

The global methanol recycling market is expected to reach USD 500 million by 2025

Statistic 35

Global methanol production capacity reached 148 million metric tons in 2020

Statistic 36

China accounts for over 50% of global methanol production

Statistic 37

The United States produced approximately 1.96 million metric tons of methanol in 2020

Statistic 38

Iran's methanol production capacity is expected to reach 23 million tons per year by 2025

Statistic 39

The global methanol-to-gasoline capacity is expected to reach 4.5 million tons per year by 2025

Statistic 40

Methanol production from renewable sources is expected to reach 5 million tons by 2030

Statistic 41

The global methanol-to-olefins capacity is expected to reach 20 million tons per year by 2025

Statistic 42

The Middle East accounted for about 20% of global methanol production capacity in 2020

Statistic 43

The global methanol-to-propylene capacity is projected to reach 10 million tons per year by 2025

Statistic 44

Methanol production from coal accounts for about 40% of global methanol production

Statistic 45

The global methanol-to-aromatics capacity is expected to reach 1.5 million tons per year by 2025

Statistic 46

The global methanol-to-hydrogen capacity is projected to reach 500,000 tons per year by 2025

Statistic 47

Methanol production from natural gas accounts for about 55% of global methanol production

Statistic 48

The global methanol-to-gasoline capacity utilization rate was approximately 70% in 2020

Statistic 49

The global methanol-to-olefins capacity utilization rate was approximately 80% in 2020

Statistic 50

The global methanol-to-propylene capacity utilization rate was approximately 75% in 2020

Statistic 51

The global methanol-to-aromatics capacity utilization rate was approximately 65% in 2020

Statistic 52

The global methanol-to-hydrogen capacity utilization rate was approximately 60% in 2020

Statistic 53

Methanol production from biomass accounts for about 1% of global methanol production

Statistic 54

The global methanol-to-protein capacity is projected to reach 100,000 tons per year by 2025

Statistic 55

The global methanol-to-acetic acid capacity is expected to reach 15 million tons per year by 2025

Statistic 56

The global methanol-to-ethylene capacity is projected to reach 3 million tons per year by 2025

Statistic 57

The global methanol-to-DME capacity is expected to reach 8 million tons per year by 2025

Statistic 58

The global methanol-to-gasoline capacity is projected to reach 2.5 million tons per year by 2025

Statistic 59

The global methanol-to-propylene oxide capacity is expected to reach 1 million tons per year by 2025

Statistic 60

The United States imported approximately 6.5 million metric tons of methanol in 2020

Statistic 61

Global methanol trade volume reached approximately 30 million tons in 2020

Statistic 62

The United States exported approximately 1.2 million metric tons of methanol in 2020

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Summary

  • Global methanol production capacity reached 148 million metric tons in 2020
  • China accounts for over 50% of global methanol production
  • The global methanol market size was valued at USD 24.23 billion in 2019
  • The methanol market is expected to grow at a CAGR of 5.5% from 2020 to 2027
  • Formaldehyde production accounts for about 30% of global methanol consumption
  • Methanol-to-Olefins (MTO) technology is expected to drive significant growth in methanol demand
  • The automotive sector accounts for about 15% of global methanol consumption
  • Methanol prices averaged $295 per metric ton in 2020
  • The United States produced approximately 1.96 million metric tons of methanol in 2020
  • Iran's methanol production capacity is expected to reach 23 million tons per year by 2025
  • The marine fuel sector is projected to consume 5 million tons of methanol annually by 2025
  • Methanol demand for fuel applications is expected to grow at a CAGR of 7.9% from 2020 to 2027
  • The Asia Pacific region accounted for over 65% of global methanol consumption in 2019
  • Europe's methanol consumption was approximately 10 million tons in 2020
  • The global methanol-to-gasoline capacity is expected to reach 4.5 million tons per year by 2025

<p>Buckle up, folks, because were diving headfirst into the fascinating world of methanol &#8211; the unsung hero of the chemical industry. With a global production capacity that would make your head spin at 148 million metric tons in 2020, its clear that methanol means business. China, the powerhouse of production, struts its stuff by churning out over half of the worlds methanol supply. As we unpack the figures, from the soaring market size valued at USD 24.23 billion to the meteoric rise in demand across various sectors, one thing is crystal clear &#8211; methanol is not just a fuel, its a powerhouse propelling industries towards a sustainable future.</p>

Applications

  • Formaldehyde production accounts for about 30% of global methanol consumption
  • Methanol-to-Olefins (MTO) technology is expected to drive significant growth in methanol demand
  • The automotive sector accounts for about 15% of global methanol consumption
  • The marine fuel sector is projected to consume 5 million tons of methanol annually by 2025
  • Biodiesel production accounts for about 3% of global methanol consumption
  • Methanol use in fuel cells is expected to grow at a CAGR of 15% from 2020 to 2027
  • Methanol demand for acetic acid production is expected to grow at a CAGR of 4.5% from 2020 to 2027
  • Methanol use in wastewater treatment is growing at a CAGR of 6% from 2020 to 2027
  • The automotive antifreeze sector accounts for about 7% of global methanol consumption
  • Methanol use in biodiesel production is growing at a CAGR of 5.5% from 2020 to 2027
  • Methanol demand for MTBE production is expected to grow at a CAGR of 3.5% from 2020 to 2027
  • Methanol use in direct methanol fuel cells (DMFC) is growing at a CAGR of 20% from 2020 to 2027
  • Methanol use in the construction industry is growing at a CAGR of 4% from 2020 to 2027
  • Methanol demand for dimethyl terephthalate (DMT) production is expected to grow at a CAGR of 3% from 2020 to 2027
  • Methanol use in the electronics industry is growing at a CAGR of 5.5% from 2020 to 2027
  • Methanol demand for methylamines production is expected to grow at a CAGR of 4.5% from 2020 to 2027
  • Methanol use in the pharmaceutical industry is growing at a CAGR of 6% from 2020 to 2027
  • Methanol use in the textile industry is growing at a CAGR of 4.5% from 2020 to 2027
  • Methanol demand for chloromethanes production is expected to grow at a CAGR of 3.5% from 2020 to 2027
  • Methanol use in the paint and coatings industry is growing at a CAGR of 5% from 2020 to 2027
  • Methanol demand for methyl methacrylate (MMA) production is expected to grow at a CAGR of 4% from 2020 to 2027
  • Methanol use in the energy storage sector is growing at a CAGR of 10% from 2020 to 2027
  • Methanol demand for silicone production is expected to grow at a CAGR of 5% from 2020 to 2027

Interpretation

The methanol industry seems to be on a rollercoaster of growth and diversification, with various sectors vying for a piece of the clear, colorless liquid pie. From fuel cells to automotive antifreeze, methanol is proving to be quite the versatile player, keeping industries afloat and engines running smoothly. With demand projections soaring high, it's clear that methanol isn't just for race cars and mad scientists anymore; it's seeping into everything from pharmaceuticals to paint cans, ensuring that this unassuming liquid remains a pivotal ingredient in the world's industrial cocktail. Here's to methanol - the unsung hero in the chemistry of progress.

Consumption

  • The Asia Pacific region accounted for over 65% of global methanol consumption in 2019
  • Europe's methanol consumption was approximately 10 million tons in 2020
  • China's methanol consumption is projected to reach 95 million tons by 2025

Interpretation

The Methanol Industry is seeing a clear shift in power dynamics, with the Asia Pacific region confidently leading the charge in global consumption, a testament to its economic prowess and innovative spirit. Meanwhile, Europe remains a steady player, maintaining its presence with a respectable 10 million tons in 2020. However, all eyes are on China, the undeniable giant of the methanol world, poised to accelerate its consumption to a whopping 95 million tons by 2025, a dazzling display of ambition and voracious appetite for progress. The stage is set for a fascinating tale of growth and competition in this ever-evolving industry.

Market Growth

  • The methanol market is expected to grow at a CAGR of 5.5% from 2020 to 2027
  • Methanol demand for fuel applications is expected to grow at a CAGR of 7.9% from 2020 to 2027

Interpretation

The methanol industry is revving up like a sports car on the Autobahn with a projected CAGR of 5.5% from 2020 to 2027. The demand for methanol as a fuel is fueling this growth even further, expected to skyrocket at a CAGR of 7.9% during the same period. As the world shifts gears towards cleaner energy sources, methanol seems to be speeding ahead as a frontrunner in the race towards a more sustainable future. Industries and investors alike have their foot firmly on the accelerator, ready to ride this wave of growth in the methanol market with turbocharged enthusiasm.

Market Value

  • The global methanol market size was valued at USD 24.23 billion in 2019
  • Methanol prices averaged $295 per metric ton in 2020
  • The global methanol market is expected to reach USD 39.18 billion by 2027
  • The dimethyl ether (DME) market, a methanol derivative, is expected to reach USD 9.7 billion by 2025
  • The global bio-methanol market is expected to reach USD 3.5 billion by 2025
  • The global methanol recycling market is expected to reach USD 500 million by 2025

Interpretation

As the Methanol Industry continues to sparkle like a well-mixed cocktail, with figures dancing between billions and millions, it's clear that this colorless liquid is worth its weight in financial gold. From the promising growth projections of the global market to the bubbling markets of its derivatives like dimethyl ether and bio-methanol, it's evident that this industry is turning heads and wallets alike. With the rise of eco-conscious consumers, even the methanol recycling market is set to make a green impact. So, grab a glass, raise a toast, and let's see where this profitable potion takes us next!

Production

  • Global methanol production capacity reached 148 million metric tons in 2020
  • China accounts for over 50% of global methanol production
  • The United States produced approximately 1.96 million metric tons of methanol in 2020
  • Iran's methanol production capacity is expected to reach 23 million tons per year by 2025
  • The global methanol-to-gasoline capacity is expected to reach 4.5 million tons per year by 2025
  • Methanol production from renewable sources is expected to reach 5 million tons by 2030
  • The global methanol-to-olefins capacity is expected to reach 20 million tons per year by 2025
  • The Middle East accounted for about 20% of global methanol production capacity in 2020
  • The global methanol-to-propylene capacity is projected to reach 10 million tons per year by 2025
  • Methanol production from coal accounts for about 40% of global methanol production
  • The global methanol-to-aromatics capacity is expected to reach 1.5 million tons per year by 2025
  • The global methanol-to-hydrogen capacity is projected to reach 500,000 tons per year by 2025
  • Methanol production from natural gas accounts for about 55% of global methanol production
  • The global methanol-to-gasoline capacity utilization rate was approximately 70% in 2020
  • The global methanol-to-olefins capacity utilization rate was approximately 80% in 2020
  • The global methanol-to-propylene capacity utilization rate was approximately 75% in 2020
  • The global methanol-to-aromatics capacity utilization rate was approximately 65% in 2020
  • The global methanol-to-hydrogen capacity utilization rate was approximately 60% in 2020
  • Methanol production from biomass accounts for about 1% of global methanol production
  • The global methanol-to-protein capacity is projected to reach 100,000 tons per year by 2025
  • The global methanol-to-acetic acid capacity is expected to reach 15 million tons per year by 2025
  • The global methanol-to-ethylene capacity is projected to reach 3 million tons per year by 2025
  • The global methanol-to-DME capacity is expected to reach 8 million tons per year by 2025
  • The global methanol-to-gasoline capacity is projected to reach 2.5 million tons per year by 2025
  • The global methanol-to-propylene oxide capacity is expected to reach 1 million tons per year by 2025

Interpretation

The global methanol industry seems to be experiencing exponential growth, akin to a chemical concoction bubbling and brewing in a mad scientist's laboratory. With China dominating production like a methanol maestro and Iran aiming to scale up its operations to impressive levels by 2025, it's a complex dance of molecules and markets. As the world shifts towards renewable resources, the promise of methanol from sustainable sources and its myriad transformations into everything from gasoline to proteins paints a picture of a sector teetering on the edge of innovation and evolution. Will the industry's utilization rates keep pace with its capacity expansion, or will it all go up in a volatile burst of methanol madness? Time will tell if this chemical saga ends in a fiery blaze or a sustainable shimmer.

Trade

  • The United States imported approximately 6.5 million metric tons of methanol in 2020
  • Global methanol trade volume reached approximately 30 million tons in 2020
  • The United States exported approximately 1.2 million metric tons of methanol in 2020

Interpretation

In a methanol market whirlwind that could make even the most steadfast of chemists dizzy, the United States finds itself both importing and exporting significant amounts of the versatile chemical compound. With a staggering 30 million tons of methanol swirling around the global trade circuit in 2020, the U.S. proudly participated by importing 6.5 million metric tons and merrily shipping out 1.2 million metric tons of its own. It seems the methanol industry is truly a merry-go-round of supply and demand, proving once again that in the world of chemistry, what goes around, comes around - quite literally.

References