The Europe Methanol market demand stood at nearly 11.3 million tonnes in 2023 and is expected to grow at a CAGR of 3.96% during the forecast period until 2034.
Methanol, also referred to as wood spirit, is a polar solvent represented by the chemical formula CH3OH. Industrial production techniques involve the catalytic conversion of carbon monoxide to produce methanol. This transparent liquid serves as a viable alternative to gasoline-based fuels, gaining popularity due to its economical nature and reduced combustion hazards. Methanol is extensively utilized as a solvent, facilitating the manufacturing of various chemicals including formaldehyde, acetic acid, olefins, and organic aromatic compounds. Its versatility is further evident in sectors such as paints and coatings, pharmaceuticals, automotive, and electronics, underscoring its broad applicability across diverse industries.
The demand for Methanol in Europe is likely to register a moderate growth. This anticipated growth stems from various factors contributing to the increasing adoption of Methanol within the region. One significant driver is the strong government support for embracing Methanol as a new generation renewable resource. European governments are actively promoting the use of Methanol due to its relatively low production cost compared to traditional fossil fuels and its eco-friendly attributes. As governments across Europe intensify their efforts to transition towards sustainable energy sources, Methanol is emerging as a key component of their renewable energy strategies. Furthermore, the versatility of Methanol and its wide-ranging applications across various industries further contribute to its growing demand in Europe. Methanol serves as a crucial feedstock for the production of numerous chemicals, including formaldehyde, acetic acid, and olefins. Its role extends beyond chemical manufacturing, as Methanol is also utilized in industries such as paints and coatings, pharmaceuticals, automotive, and electronics. In conclusion, the Europe Methanol market is likely to reach roughly 17.6 million tonnes in 2034.
Based on the end-user industry, the Europe Methanol market is segmented into Formaldehyde, MTO, MTBE, Gasoline Blending, Others. The largest market share of Methanol goes in Formaldehyde, which was about 30% in the year 2023.
Major players in the Europe Methanol market are BASF, BP Refining & Petrochemicals, MSK, UCC Shchekino Azot, PJSC Metafrax, Mider-Helm Methanol, Nevinnomyssk Azot, Shell & DEA Oil, Togliatti Azot, Tomskneftekhim, Repsol YPF, BioMCN (The Netherlands), Equinor, SOCAR, 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 Europe Methanol which covers production, demand and supply of Methanol market in Europe.
• To analyse and forecast the market size of Europe Methanol
• To classify and forecast Europe Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in Europe.
To extract data for Europe 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 Europe Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the Europe 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, Europe 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
11.3 million tonnes
Market size Volume by 2034
17.6 million tonnes
Growth Rate
CAGR of 3.96% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2023
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, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Formaldehyde, MTO, MTBE, Gasoline Blending, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Germany, Italy, France, Belgium, Sweden and the Rest of Europe.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of Europe Methanol market in terms of volume in 2023?
Ans:
The size of Europe Methanol market has grown significantly in the historic period and reached approximately 11.3 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Methanol?
Ans:
Formaldehyde industry is the leading consumer of Methanol.
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Ans:
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