The Saudi Arabia Methanol market stood at nearly 6.1 million tonnes in 2023 and is likely to grow at a healthy CAGR of 3.5% during the forecast period until 2034.
Methanol is indispensable in the chemical industry, serving as a versatile building block for a multitude of products. Its significance lies in various key applications. Firstly, methanol acts as a fundamental precursor in the production of formaldehyde, an essential chemical utilized in the manufacturing of adhesives, resins, plywood, and textiles. Methanol serves as the primary raw material for formaldehyde synthesis, emphasizing its crucial role in numerous industrial processes. Secondly, methanol is integral in the production of acetic acid, paints, solvents, and pharmaceuticals. Methanol serves as a precursor for MTBE production, showcasing its continued relevance in fuel-related applications. Moreover, methanol is essential in the synthesis of methyl methacrylate, a monomer crucial for acrylic plastics used in windows, lenses, and automotive components. Methanol's involvement in methyl methacrylate production underscores its significance in the plastics industry.
In Saudi Arabia, the Methanol market is primarily driven by a multitude of key end-use sectors that heavily rely on Methanol for various applications. The chemical industry stands out as a major driver, utilizing Methanol as a crucial feedstock for producing a wide range of chemicals and derivatives. These include formaldehyde, acetic acid, and olefins, which find extensive use in manufacturing plastics, resins, adhesives, and coatings. This consistent demand within the chemical industry serves as a significant catalyst for the growth of the Methanol market in the region. Additionally, the petrochemical sector plays a pivotal role, utilizing Methanol as a feedstock for producing essential petrochemicals like methyl tertiary butyl ether (MTBE). Furthermore, the energy sector is emerging as a significant consumer of Methanol in Saudi Arabia, as the country seeks to diversify its energy sources and reduce dependence on fossil fuels. Methanol is being increasingly explored as a renewable and low-emission fuel alternative, with applications in transportation fuels and power generation. This transition towards cleaner energy sources contributes to the growing demand for Methanol in the energy sector. The Saudi Arabia Methanol market is expected to reach nearly 8.9 million tonnes in the year 2034.
Based on the end-user industry, the Saudi Arabia Methanol market is divided into Formaldehyde, MTO, MTBE, Gasoline Blending, Others. Among these, the Formaldehyde industry is dominating the Methanol market. This industry consumed approximately 35% of the market in 2023.
Main player in the Saudi Arabia Methanol market are Saudi Arabia Basic Industries Corporation (SABIC), Sipchem, Mitsubishi Gas Chemical, Gulf Petrochemical Industries Company, Chemanol, and Oman Methanol Company. Other global players in the Methanol market are OCI Beaumont, Eastman Chemical, Yuhuang Chemical Industries Inc., Methanex Corporation, Nauticol Energy, Pemex, Natgasoline LLC, Pampa Fuels LLC, Praxair, Koch Methanol One, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Methanol which covers production, demand and supply of Methanol market in the Saudi Arabia.
• To analyse and forecast the market size of Methanol
• To classify and forecast Saudi Arabia Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in the Saudi Arabia.
To extract data for Saudi Arabia 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 Saudi Arabia Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across Saudi Arabia 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 calculate 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 s 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, Saudi Arabia 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
6.1 million tonnes
Market size Volume by 2034
8.9 million tonnes
Growth Rate
CAGR of 3.5% 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 Region, Demand by End- Use, Demand by Country, 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
Eastern Region, Central Region, and Rest of Saudi Arabia
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was Saudi Arabia market size of Methanol in terms of volume in 2023?
Ans:
The Saudi Arabia market size of Methanol has grown significantly in the historic period and reached nearly 6.1 million tonnes in 2023.
Q2.
Which industry is the major consumer of Saudi Arabia Methanol market?
Ans:
The Formaldehyde industry is dominating the Saudi Arabia Methanol market with a market share of approximately 33% in 2023.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.