Comparing 14 vendors in Methanol across 89 criteria.
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The Methanol Companies quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Methanol. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 50 Methanol companies of which the Top 14 Methanol Companies were categorised and recognized as the quadrant leaders.
According to the Methanol Institute, a global trade association for the methanol industry, methanol (CH30H) is water-soluble and readily biodegradable, comprising four parts hydrogen, one part oxygen, and one part carbon, and is the simplest member Of a group Of organic chemicals called alcohols. Methanol is known as methyl alcohol, wood alcohol, wood naphtha, methyl hydrate, or wood spirits. Methanol is called "wood alcohol" because it was chiefly a by-product of the destructive distillation of wood. Methanol is produced in a catalytic process directly from carbon monoxide, carbon dioxide, and hydrogen.
Methanol is a clear liquid chemical used in thousands Of everyday products, including plastics, paints, and fuels. Methanol is also an energy resource used in the marine, automotive, and electricity sectors, and an emerging renewable energy resource. At room temperature, it is a polar liquid, which is used as an anti-freezing agent. Methanol is used as a feedstock to manufacture many derivatives, such as formaldehyde, acetic acid, gasoline, biodiesel, methanol to olefins (MTO), methanol to propylene (MTP), and methyl methacrylate (MMA). There are two major feedstocks to produce methanol conventionally: natural gas and coal.
The 360 Quadrant efficiently maps the methanol companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the methanol quadrant. While the top criteria for product footprint evaluation included By Feedstock (Natural Gas and Coal), Derivative (Formaldehyde, MTO/MTP, Gasoline, MTBE, MMA, Acetic Acid, DME and Biodiesel), Sub-Derivative and End-User Industry.
Key Highlights included in 360 Quadrants:
- The global methanol market was valued at USD 30,988 million in 2023 and is projected to reach USD 38,086 million in 2028 by growing at a CAGR of 4.2% from 2023 to 2028.
- Based on feedstock, the natural gas segment accounted for the largest share (47%) of the methanol market in 2022. The natural gas segment is expected to grow due to the most effective, cheaper, and cleaner feedstock is mainly used to produce methanol in North America, Europe, and South America.
- In terms of packaging type, pouches are witnessing an increase in demand due to their superior properties, such as their versatile nature, low weight, and easy transportability. In 2022, this segment accounted for the largest share (nearly 30%) of the flexible packaging market in terms of value. This is further projected to rise at a CAGR of 6% between 2022 and 2027.
- In terms of derivative type formaldehyde derivative is the largest segment in the methanol market. One of the most significant chemical products in the world, formaldehyde is used to make resins such as urea-phenolic (UF), acetal, phenol-formaldehyde (PF), and melamine-formaldehyde (MF).
- Methanol companies incorporate various types of sub-derivatives such as formaldehyde/phenol-formaldehyde resins (UF/PF resins), polyacetal, methylene diphenyl diisocyanate (MDI), vinyl acetate monomer (VAM), acetate esters, acetic anhydride, terephthalic acid (PTA), gasoline additives, olefins, fuels, and others. UF/PF has been the fastest-growing market, accounting for 20% of the methanol market, followed by gasoline additives with a 16% share.
- There are many regional and local methanol companies present, which has led to the fragmentation of the methanol market. Due to annual incremental capacity additions that were more than the annual additional demand, the methanol sector reached a point of oversupply by the end of 2020.
- Factors such as raw material accessibility, consumer demand, environmental issues, and GDP growth rates. In terms of value, Asia Pacific dominated the worldwide methanol market in 2022. The electronics, chemicals, automotive, construction, and other industries that are thriving in some Asia Pacific regions, including China, India, Japan, and South Korea, are to blame for the region's rapid rise in the methanol industry.
- Methanol companies like Methanex Corporation, Valenz (Helm Proman) and SABIC these three market players have undertaken various development strategies pertaining to the methanol market, where the cumulative share of these top three methanol companies was between 22 to 24% of the total market in 2022.
- Leading methanol companies adopted new product launches as the key growth strategy, along with partnerships and agreements. A contract for the building of a new methanol pipeline was signed by Suez Methanol Derivatives (SMD) and Methanex Corporation. The project in Damietta by SMD will get methanol from Methanex Corporation's factory in Egypt. Operations for the pipeline development project are anticipated to begin in 2024.
- Other leading methanol companies such as Yankuang (Yanzhou Coal), Petronas, Mitsubishi Gas Chemical, BASF, Methanex and SABIC, and others have also been actively involved in strategic growth activities in order to strengthen their footprint in the market. For instance, in October 2022, A partnership between the two businesses to market green methanol was announced. Cement Australia will receive eco-friendly methanol manufacturing technology from Mitsubishi Gas Chemical Company Inc. The partnership expands new methanol manufacturing technology in Cement Australia.
- The development of methanol as a marine and industrial fuel as well as the expansion of MTO/MTP plant production capacity are other drivers driving the methanol market. Methanol companies are now increasing MTO/MTP production capacities in emerging economies such as China, India, Mexico, Brazil, and Indonesia.
- Methanol companies are also focused on building strategies to address the demand for the construction industry. Cite an example, In March 2023, A contract for the construction of a methanol-to-synthetic ethanol conversion facility was signed by the Zagros Petrochemical Company and the Dalian Petrochemical Company.
- As part of the shipping industry's move toward decarbonization, methanol companies such as Methanex Corporation, Stena Line, and the Port of Gothenburg celebrated a new milestone in January 2023 by pushing methanol as a cleaner burning marine fuel. The Stena Germanica, the first methanol ferry in the world, worked with Methanex to successfully execute ship-to-ship methanol bunkering at the Port of Gothenburg. This relationship served to boost the market for methanol as a marine fuel and to assist the sector's energy transition.
- Methanol companies like Methanex Corporation, HELM Proman Methanol AG, and SABIC are industry majors and have benefitted mainly from their well-recognized brands and strong distribution capabilities in the expanding market.
- Most methanol companies are introducing innovative applications, it has features in everyday items such as windshield washer fluid, fertilizers, carpets and plastics.
- Some of the methanol companies such as Celanese Corporation, Petronas, and Metafrax Chemicals are the prominent leaders in the market, driving their growth through their innovative products, expanded production capabilities, and effective distribution channels.
The Full List
|Company||Headquarters||Year Founded||Holding Type|
|Mitsubishi Gas Chemical||Tokyo, Japan||1918||Public|
|OCI NV||Amsterdam, Netherlands||2013||Public|
|Petronas||Kuala Lumpur, Malaysia||1974||Public|
|SABIC||Riyadh, Saudi Arabia||1976||Public|
|Sipchem||Khobar, Saudi Arabia||1999||Public|
|Valenz (Helm Proman)||Wollerau, Switzerland||2004||Private|
|Yankuang (Yanzhou Coal)||Jining, China||1997||Public|