The South Africa Methanol market demand stood at 950 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.74% during the forecast period until 2034.
Methanol, also referred to as wood spirit, is a polar solvent represented by the chemical formula CH3OH. Initially named wood spirit due to its extraction from wood distillation in the past, contemporary industrial techniques involve catalytic reduction of carbon monoxide for methanol synthesis. This transparent liquid serves as a viable alternative to gasoline-based fuels, gaining traction due to its cost-effectiveness and reduced combustion risks. Methanol functions extensively as a solvent, contributing to the production of various chemicals including plastics, formaldehyde, acetic acid, olefins, and organic aromatic compounds. It serves as a crucial ingredient in the manufacturing of numerous industrial products and consumer items. Acting as a feedstock, methanol is essential in the production of formaldehyde and acetic acid, pivotal in industries such as plastics, paints, adhesives, and pharmaceuticals. Moreover, methanol's utility extends to emerging applications like wastewater denitrification and the production of Olefin or methanol-olefin (MTO). Its versatility is further evidenced in sectors like paints, pharmaceuticals, automotive, and electronics, highlighting its diverse applicability across industries.
In the South Africa market, Methanol is positioned for significant growth, largely propelled by its crucial role in chemical production. This growth is anticipated due to Methanol's versatility as a key raw material in the synthesis of various chemicals and derivatives. Methanol serves as a fundamental building block in the manufacturing process of numerous chemical compounds, including formaldehyde, acetic acid, and olefins, which find extensive applications across various industries such as construction, automotive, and consumer goods manufacturing. As South Africa continues to witness industrial development and expansion across these sectors, the demand for Methanol as a primary feedstock is expected to rise correspondingly. Moreover, Methanol's usage extends beyond chemical production, with increasing applications in alternative fuels, solvents, and other industrial processes. Overall, Methanol's pivotal role in chemical production, coupled with its diverse applications and growing demand across industries, positions it for robust growth prospects in the South African market. Thus, South Africa Methanol market is likely to reach roughly 1200 thousand tonnes in 2034.
Based on the end-user industry, the South Africa Methanol market is segmented into Formaldehyde, Acetic Acid, MTBE, Gasoline Blending, Others. However, Formaldehyde industry is the leading industry which had about 32% in 2023.
Major player in the South Africa Methanol market is Atlantic Methanol and Sasol Limited. Other global players include Fairway LLC, US Methanol, Methanex Corporation, LyondellBasell Industries BV, 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
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Objective of the Study:
• To assess the demand-supply scenario of South Africa Methanol which covers production, demand and supply of Methanol market in South Africa.
• To analyse and forecast the market size of South Africa Methanol
• To classify and forecast South Africa Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in South Africa.
To extract data for South Africa 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 South Africa Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the South Africa 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, South Africa 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
950 thousand tonnes
Market size Volume by 2034
1200 thousand tonnes
Growth Rate
CAGR of 3.74% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand 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, Acetic Acid, MTBE, Gasoline Blending, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern Cape, Western Cape, Eastern Cape, and Rest of South Africa
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
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What was the size of South Africa Methanol market in terms of volume in 2023?
Ans:
The size of South Africa Methanol market has grown significantly in the historic period and reached approximately 950 thousand 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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