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)
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.2.1 Asia Pacific Methanol Market, by Derivative
1.2.2 Asia Pacific Methanol Market, by End Use Industry
1.2.3 Asia Pacific Methanol Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Asia Pacific Methanol Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Methanol Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing use of Methanol as Feedstock in Various Applications
5.1.2 Rising Application of Methanol in Construction Activities
5.2 Market Restraints
5.2.1 Detrimental Effect of Methanol on Human Health
5.3 Market Opportunities
5.3.1 Growing Adoption of Methanol as Blended Fuel in Transportation Industry
5.4 Future Trends
5.4.1 Rising Trend of Green Methanol
5.5 Impact Analysis
6. Methanol – Asia Pacific Market Analysis
6.1 Asia Pacific Methanol Market Overview
6.2 Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Mn)
7. Asia Pacific Methanol Market Analysis – By Derivative
7.1 Overview
7.2 Asia Pacific Methanol Market, By Derivative (2020 and 2028)
7.3 Formaldehyde:
7.3.1 Overview
7.3.2 Formaldehyde: Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.4 Acetic Acid
7.4.1 Overview
7.4.2 Acetic Acid: Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.5 Methanol-to-Olefins (MTO)/Methanol-to-Propylene (MTP)
7.5.1 overview
7.5.2 Methanol-to-Olefins (MTO)/Methanol-to-Propylene (MTP): Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.6 Methyl Tertiary-Butyl Ether (MTBE)
7.6.1 Overview
7.6.2 Methyl tertiary-butyl ether (MTBE): Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.7 Methyl methacrylate (MMA)
7.7.1 Overview
7.7.2 Methyl methacrylate (MMA): Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.8 Biodiesel (Gasoline Blending)
7.8.1 Overview
7.8.2 Biodiesel (Gasoline Blending): Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.9 Dimethyl Ether (DME)
7.9.1 Overview
7.9.2 Dimethyl ether (DME): Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
7.10 Others
7.10.1 Overview
7.10.2 Others: Asia Pacific Methanol Market– Revenue and Forecast to 2028 (USD Mn)
8. Asia Pacific Methanol Market Analysis – By End-Use
8.1 Overview
8.2 Automotive
8.2.1 Overview
8.2.2 Automotive: Asia Pacific Methanol Market – Revenue and Forecast to 2028 (US$ Million)
8.3 Construction
8.3.1 Overview
8.3.2 Construction: Asia Pacific Methanol Market – Revenue and Forecast To 2028 (US$ Million)
8.4 Electronics
8.4.1 Overview
8.4.2 Electronics: Market – Revenue, and Forecast to 2028 (US$ Million)
8.5 Packaging
8.5.1 Overview
8.5.2 Packaging: Asia Pacific Methanol Market – Revenue and Forecast To 2028 (US$ Million)
8.6 Pharmaceuticals
8.6.1 Overview
8.6.2 Pharmaceuticals: Asia Pacific Methanol Market – Revenue and Forecast To 2028 (US$ Million)
8.7 Paints and Coatings
8.7.1 Overview
8.7.2 Paints and Coatings: Asia Pacific Methanol Market – Revenue and Forecast To 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Asia Pacific Methanol Market – Revenue and Forecast To 2028 (US$ Million)
9. Asia Pacific Methanol Market – Country Analysis
9.1 Overview
9.2 Asia-Pacific: Asia Pacific Methanol Market
9.2.1 Asia-Pacific: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.1 Australia: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.1.1 Australia: Asia Pacific Methanol Market, by Derivative
9.2.1.1.2 Australia: Asia Pacific Methanol Market, by End Use
9.2.1.2 China: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.2.1 China: Asia Pacific Methanol Market, by Derivative
9.2.1.2.2 China: Asia Pacific Methanol Market, by End Use
9.2.1.3 India: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.3.1 India: Asia Pacific Methanol Market, by Derivative
9.2.1.3.2 India: Asia Pacific Methanol Market, by End Use Industry
9.2.1.4 Japan: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.4.1 Japan: Asia Pacific Methanol Market, by Derivative
9.2.1.4.2 Japan: Asia Pacific Methanol Market, by End Use Industry
9.2.1.5 South Korea: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.5.1 South Korea: Asia Pacific Methanol Market, by Derivative
9.2.1.5.2 South Korea: Asia Pacific Methanol Market, by End Use Industry
9.2.1.6 Rest of Asia-Pacific: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
9.2.1.6.1 Rest of Asia-Pacific: Asia Pacific Methanol Market, by Derivative
9.2.1.6.2 Rest of Asia-Pacific: Asia Pacific Methanol Market, by End Use Industry
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. COMPANY PROFILES
11.1 Methanex Corporation
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 OCI N.V.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 BASF SE
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 SABIC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Mitsubishi Gas Chemical Co.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 HELM AG
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Celanese Corporation
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Zagros Petrochemical co.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Mitsui and co. ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 LyondellBasell Industries Holdings B.V.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia Pacific Methanol Market, by Derivative– Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific Methanol Market, by End Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia Asia Pacific Methanol Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 5. China Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million
Table 6. China Asia Pacific Methanol Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 7. India Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)
Table 8. India Asia Pacific Methanol Market, by End Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan Asia Pacific Methanol Market, by End Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea Asia Pacific Methanol Market, by End Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Asia Pacific Methanol Market, by Derivative – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Asia Pacific Methanol Market, by End Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 15. Glossary of Terms, Asia Pacific Methanol Market
LIST OF FIGURES
Figure 1. Asia Pacific Methanol Market Segmentation
Figure 2. Asia Pacific Methanol Market Overview
Figure 3. Asia Pacific Methanol Market, By Derivative
Figure 4. Asia Pacific Methanol Market, by Country
Figure 5. Porter's Five Forces Analysis
Figure 6. Asia Pacific Methanol Market - Ecosystem
Figure 7. Expert Opinion
Figure 8. Asia Pacific Methanol Market Impact Analysis of Drivers and Restraints
Figure 9. Country Overview of Asia Pacific Methanol Market
Figure 10. Asia Pacific Methanol Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 11. Asia-Pacific: Asia Pacific Methanol Market Revenue Share, by Derivative (2020 and 2028)
Figure 12. Formaldehyde: Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 13. Acetic Acid: Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 14. Methanol-to-Olefins (MTO)/Methanol-to-Propylene (MTP): Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 15. Methyl tertiary-butyl ether (MTBE): Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 16. Methyl methacrylate (MMA): Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 17. Biodiesel (Gasoline Blending): Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 18. Dimethyl ether (DME): Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 19. Others: Asia Pacific Methanol Market– Revenue and Forecast To 2028 (USD Mn)
Figure 20. Asia Pacific Methanol Market Revenue Share, by end use (2020 and 2028)
Figure 21. Automotive: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 22. Construction: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 23. Electronics: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 24. Packaging: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 25. Pharmaceuticals: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 26. Paints and Coatings: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 27. Others: Asia Pacific Methanol Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 28. Asia Pacific Methanol Market Revenue Share, by region (2021 and 2028)
Figure 29. Asia-Pacific: Asia Pacific Methanol Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Australia: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. China: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. India: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. Japan: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34. South Korea: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
Figure 35. Rest of Asia-Pacific: Asia Pacific Methanol Market –Revenue and Forecast to 2028 (US$ Million)
- Methanex Corporation
- OCI N.V.
- BASF SE
- SABIC
- Mitsubishi Gas Chemical Co.
- HELM AG
- Celanese Corporation
- Zagros Petrochemical co.
- Mitsui and co. ltd
- LyondellBasell Industries Holdings B.V.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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