The China Methanol market demand stood at 17.8 million tonnes in 2023 and is expected to grow at a CAGR of 3.2% during the forecast period until 2034.
Methanol, also known as wood spirit, is a polar solvent characterized by the chemical formula CH3OH. Historically named wood spirit due to its initial production through wood distillation, contemporary industrial methods involve the catalytic reduction of carbon monoxide for methanol synthesis. This colorless liquid serves as a viable substitute for gasoline-based fuels, gaining prevalence due to its cost-effectiveness and reduced combustion risks. Methanol finds extensive use as a solvent, contributing to the production of various chemicals like plastics, formaldehyde, acetic acid, olefins, and organic aromatic compounds. The versatility of methanol is further demonstrated in industries such as paints and coatings, pharmaceuticals, automotive, and electronics, showcasing its wide-ranging utility in diverse sectors.
The China methanol market is propelled by diverse factors rooted in its various end uses. In chemical manufacturing, methanol acts as a vital feedstock for producing chemicals like formaldehyde and acetic acid. Within the fuel and energy sector, methanol serves as an alternative, cost-effective, and clean-burning fuel, finding applications in fuel blending and emerging as a potential transportation fuel. Its crucial role as a component in the production of plastics and polymers aligns with the growth of industries reliant on these materials. The automotive sector witnesses the significance of methanol as a fuel additive, with demand influenced by the industry's exploration of alternative fuels. Furthermore, methanol's application in electronics and high-tech manufacturing, especially in electronic component production and semiconductor manufacturing, contributes to market growth, complementing the expansion of high-tech manufacturing in China. These interrelated factors collectively shape the dynamics, demand, and growth patterns within the China methanol market. Due to these reasons, the China Methanol market size is estimated to reach roughly 25 million tonnes in 2034.
Based on the end-user industry, the China Methanol market is segregated into Formaldehyde, MTO, MTBE, Gasoline Blending, Others. The largest chunk of Methanol goes towards Formaldehyde segment. In 2023, this industry consumed about 30 percent of the net China Methanol market.
Major players in the China Methanol market are Ningxia Baofeng Energy Group, State Power Investment Corporation, Shenhua Group, Fund Energy, Yankuang Group Company Limited, China BlueChemical Ltd., Anhui Haoyuan Chemical Group Co., Ltd, China Coal Ordos, Jiutai Energy Inner Mongolia Co., Ltd., Shanxi Coking Coal Group, Datang International Kttengtengqi, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Methanol which covers production, demand and supply of Methanol market in China.
• To analyse and forecast the market size of Methanol
• To classify and forecast China Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in China.
To extract data for China Methanol market, primary research surveys were conducted with Methanol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for China Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the China region by analysing the volume of Methanol consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Methanol manufacturers and other stakeholders
• Organizations, forums and alliances related to Methanol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Methanol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, China Methanol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
17.8 million tonnes
Market size Volume by 2034
25 million tonnes
Growth Rate
CAGR of 3.2% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Formaldehyde, MTO, MTBE, Gasoline Blending, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North China, South China, East China, West China and Rest of China
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of China Methanol market in terms of volume in 2023?
Ans:
The size of China Methanol market has grown significantly in the historic period and reached approximately 17.8 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of China Methanol market?
Ans:
Formaldehyde industry is the leading consumer of China Methanol market.
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