The Taiwan Methanol market demand stood at nearly 1.3 million tonnes in 2023 and is expected to grow at a CAGR of 2.8% during the forecast period until 2034.
Methanol is a versatile compound widely employed across diverse industrial and commercial sectors. Its applications span several crucial roles, including its use as a solvent in the production processes of paints, inks, resins, and adhesives. Furthermore, methanol serves as a viable fuel option for internal combustion engines and fuel cells, particularly favoured in high-performance vehicles such as racing cars and boats owing to its advantageous octane rating and environmentally friendly combustion properties. Additionally, methanol is commonly blended with gasoline to improve combustion efficiency and reduce emissions. Moreover, methanol plays a pivotal role as a chemical intermediate in the synthesis of various compounds, including formaldehyde, acetic acid, and a wide array of plastics and resins, highlighting its significance as a foundational building block in chemical manufacturing processes.
Taiwan is positioned for increased Methanol consumption in the foreseeable future, primarily due to its significant role in the chemical sector. Methanol serves as a fundamental chemical building block in various industrial processes, including the production of formaldehyde, acetic acid, and various plastics and resins. Given Taiwan's robust chemical industry, which encompasses manufacturing activities across a wide range of sectors, the demand for Methanol is expected to surge. Industries such as paints, coatings, adhesives, and pharmaceuticals rely heavily on Methanol as a solvent and chemical intermediate. Additionally, Methanol's versatility extends to its use as a fuel additive and in biodiesel blending, further contributing to its consumption in Taiwan. As Taiwan continues to advance its industrial capabilities and infrastructure, particularly in the chemical sector, the demand for Methanol is anticipated to grow steadily, cementing its pivotal role in supporting the country's industrial development and economic growth. To fulfil its demand, Taiwan heavily depends on imports, with the majority of methanol sourced from Trinidad and Tobago, the Middle East, and Southeast Asia. Thus, Taiwan Methanol market is likely to reach roughly 1.8 million tonnes in 2034.
Based on the end-uses, the Taiwan Methanol market is segmented into Formaldehyde, Acetic Acid, MTBE, Gasoline Blending, Others. The largest market share of Methanol goes into Agriculture & Fertilisers industry. The share was about 28% in the year 2023.
Major players in the Taiwan Methanol market include LCY Chemical Corp. and Mitsui & Co. Other global players in the Methanol market include Methanex Corporation, Mitsubishi Gas Chemical, Saudi Arabia Basic Industries Corporation (SABIC), Methanol Holdings (Trinidad) Limited (MHTL), Ningxia Baofeng Energy Group, Methanol Australia Limited, 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 Taiwan Methanol which covers production, demand and supply of Methanol market in Taiwan.
• To analyse and forecast the market size of Taiwan Methanol
• To classify and forecast Taiwan Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in Taiwan.
To extract data for Taiwan 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 Taiwan Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the Taiwan 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, Taiwan 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
1.3 million tonnes
Market size Volume by 2034
1.8 million tonnes
Growth Rate
CAGR of 2.8% 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, 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
Western Taiwan, Northern Taiwan, Southern Taiwan, and Eastern Taiwan
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 Taiwan Methanol market in terms of volume in 2023?
Ans:
The size of Taiwan Methanol market has grown significantly in the historic period and reached approximately 1.3 million tonnes in 2023.
Q2.
Which industry is the leading end-use industry of Taiwan Methanol market?
Ans:
Formaldehyde is the leading end-use industry of Taiwan Methanol market.
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