Asia Pacific Methanol Market Growth and Recent Trends by 2028
Asia Pacific Methanol Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Derivative [Formaldehyde, Acetic Acid, Methanol-to-Olefins (MTO)/Methanol-to-Propylene (MTP), Methyl Tertiary-Butyl Ether (MTBE), Methyl Methacrylate (MMA), Biodiesel (Gasoline Blending), Dimethyl Ether (DME), and Others] and End-Use Industry (Automotive, Construction, Electronics, Packaging, Pharmaceuticals, Paints and Coatings, and Others)
- Status : Published
- Report Code : TIPRE00029069
- Category : Chemicals and Materials
- No. of Pages : 139
- Available Report Formats :
- Last update date : May 12, 2022
2021 Market Size
US$ 17,738.87 Mn
Base year value
2028 Forecast
US$ 27,073.72 Mn
Projected by 2028
CAGR 2022-2028
6.2 %
Growth rate
Addressable Market
US$ 159,096.39 Mn
(2022-2028)
The Asia Pacific methanol market is expected to reach US$ 27,073.72 million by 2028 from US$ 17,738.87 million in 2021; it is expected to grow at a CAGR of 6.2% from 2021 to 2028.
Methanol is used as feedstock for manufacturing various construction-related materials such as plastic pipes, paints and coatings, carpet underlay, wood panels, and crane ropes. Moreover, formaldehyde-based resins, one of the methanol's derivatives, are widely used to manufacture composite and engineered wood products used in cabinetry, countertops, moldings, shelving, stair systems, flooring, wall sheathing, support beams, and trusses. Also, glue adhesives used as bonding agents for building blocks are made of formaldehyde-based chemistry. In addition, methanol is used as a solvent for paints and varnishes as it is easily dissolvable compared to ethanol. Hence, methanol and its derivates are extensively used while producing a range of building construction-related materials. Rapidly growing building constructions in developing and developed economies are increasing the demand for building construction-related materials. As per the National Bureau of Statistics of China, the country's real estate development witnessed 38.3% growth from January to April 2021 compared to the same months in 2020. The country's real estate industry estimated around 1 trillion investments in construction activities in 2021. Therefore, growing building construction activities regionally are bolstering the demand for methanol as it is widely used to manufacture various construction-related materials.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the growth of the Asia Pacific methanol market during the forecast period.
Asia Pacific Methanol Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Asia Pacific Methanol Market Segmentation
The Asia Pacific methanol market is segmented on the basis of derivative and end-use industry. Based on derivative,the market is segmented into formaldehyde, acetic acid, methanol-to-olefins (MTO)/methanol-to-propylene (MTP), methyl tertiary-butyl ether (MTBE), methyl methacrylate (MMA), biodiesel (gasoline blending), dimethyl ether (DME), and others. Based on end-use industry, the Asia Pacific methanol market is segmented into automotive, construction, electronics, packaging, pharmaceuticals, paints and coatings, and other. By country, the market is segmented into Australia, China, India, Japan, South Korea, and the rest of APAC.
Asia Pacific Methanol Market Companies
Methanex Corporation, OCI N.V., BASF SE, SABIC, Mitsubishi Gas Chemical Co., HELM AG, Celanese Corporation, Zagros Petrochemical co., Mitsui and co. ltd., and LyondellBasell Industries Holdings B.V are among the leading companies in the Asia Pacific methanol market.
Asia Pacific Methanol Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 17,738.87 Million |
| Market Size by 2028 | US$ 27,073.72 Million |
| CAGR (2021 - 2028) | 6.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Derivative
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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