The Thailand Methanol market demand stood at nearly 550 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.5% during the forecast period until 2034.
Methanol is a highly versatile and a crucial raw material in chemical synthesis. Its ability to dissolve paints, varnishes, resins, and adhesives is particularly valuable in industrial settings. Moreover, methanol plays a central role in chemical manufacturing by serving as a key component in the production of formaldehyde, acetic acid, methyl tert-butyl ether (MTBE), and other compounds. These derivatives are extensively used in industries such as paints, adhesives, and coatings, underscoring methanol's importance as a fundamental element in chemical production.
In Thailand, the methanol market is influenced by a variety of factors, particularly its significant industrial applications. Methanol is widely utilized in various industries such as chemicals, pharmaceuticals, and agriculture among others. It serves as a crucial raw material in the production of formaldehyde, acetic acid, and various other chemicals. Additionally, methanol is used as a solvent, antifreeze agent, and to produce MTBE which is used as fuel additive, further expanding its industrial significance. The growth of these industries, coupled with increasing demand for methanol-derived products, drives the methanol market in Thailand. Moreover, government initiatives promoting industrial growth and investment in key sectors contribute to the market's expansion. Overall, the diverse range of industrial applications underscores the importance of methanol in Thailand's economy and drives its market growth. As a versatile chemical compound, methanol's adaptability to various applications positions it as a valuable resource in addressing evolving energy and transportation needs while promoting sustainability initiatives. Currently, there are no particular Methanol producers in Thailand. However, the Thailand Methanol market size is estimated to reach roughly 800 thousand tonnes in 2034.
Based upon the end-uses, the Thailand Methanol market is segregated into Formaldehyde, Acetic Acid, MTBE, Gasoline Blending, Others. The largest market share of Methanol goes in Formaldehyde segment which ranged about 35% in the year 2023.
Major players in the Global Methanol market are Methanex Corporation, Mitsubishi Gas Chemical, Saudi Arabia Basic Industries Corporation (SABIC), Methanol Holdings (Trinidad) Limited (MHTL), Ningxia Baofeng Energy Group, Methanol Australia Limited, Mitsubishi Gas Chemical, NPC-Zagros, Kaveh Methanol Petrochemical, OCI, Natgasoline LLC, 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 Thailand.
• To analyse and forecast the market size of Thailand Methanol
• To classify and forecast Thailand Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in Thailand.
To extract data for Thailand 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 Thailand Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the Thailand 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, Thailand 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
550 thousand tonnes
Market size Volume by 2034
800 thousand 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 thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, 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, Acetic Acid, MTBE, Gasoline Blending, Others]
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North (Myanmar), Central (Bangkok), Northeast (Isan), and South (Gulf of Thailand)
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of Thailand Methanol market in terms of volume in 2023?
Ans:
The size of Thailand Methanol market has grown significantly in the historic period and reached approximately 550 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.5% in the forecast period.
Q2.
Which industry is leading as the leading consumer of Thailand Methanol market?
Ans:
Formaldehyde industry is the leading consumer of Thailand Methanol market.
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