The USA Methanol market demand stood at 11.5 million tonnes in 2023 and is expected to grow at a CAGR of 3.88% during the forecast period until 2034.
Methanol, which is sometimes referred to as wood spirit, is a polar solvent with the chemical formula CH3OH. Known historically as wood spirit because it was first made by wood distillation, modern commercial processes use catalytic reduction of carbon monoxide to produce methanol. It is a colourless liquid that can be used as an alternative to gasoline-based fuels and is becoming more and more popular because of its affordability. A wide range of chemicals, including polymers, formaldehyde, acetic acid, olefins, and organic aromatic compounds, are produced using methanol as a solvent.
The growth drivers for the methanol market in the United States are diverse and influential, driven by several key factors. Firstly, the chemical industry is a major driver for the methanol market in the United States. Methanol acts as a crucial feedstock for the production of various chemicals and materials, including formaldehyde, MTO (Methanol to Olefins), and MTBE (Methyl Tertiary-Butyl Ether). As the demand for these downstream products continues to expand across sectors such as construction, automotive, and consumer goods, the need for methanol as a raw material is expected to increase correspondingly. Also, the energy industry plays a significant role, with a growing demand for methanol as a fuel or fuel additive. Methanol serves as a clean-burning alternative fuel in transportation, power generation, and heating applications. Given the increasing concerns over environmental pollution and the global push towards cleaner energy sources, the demand for methanol as a renewable and low-emission fuel is anticipated to rise steadily. Additionally, the United States' thriving manufacturing sector contributes to the growth of the methanol market. Methanol finds extensive usage in manufacturing processes, including solvent production, coatings, adhesives, and pharmaceuticals. The sector's growth, driven by technological advancements, innovation, and economic expansion, further propels the demand for methanol in various industrial applications. Owing to these factors, Methanol market is likely to reach roughly 17.5 million tonnes in 2034.
Based on the end-user industry, the USA Methanol market is segmented into Formaldehyde, MTO, MTBE, Gasoline Blending, Others. The largest market share of Methanol goes in the Formaldehyde industry. The market share held by this industry ranged about 31% in 2023.
Major players in the USA Methanol market are Fairway LLC, US Methanol, Methanex Corporation, LyondellBasell Industries BV, OCI Beaumont, Eastman Chemical, Yuhuang Chemical Industries Inc., 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 USA Methanol which covers production, demand and supply of Methanol market in USA.
• To analyse and forecast the market size of USA Methanol
• To classify and forecast USA Methanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Methanol market in USA.
To extract data for USA 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 USA Methanol market over the coming years.
ChemAnalyst calculated Methanol demand across the USA 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, USA 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
11.5 million tonnes
Market size Volume by 2034
17.5 million tonnes
Growth Rate
CAGR of 3.88% 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, MTO, MTBE, Gasoline Blending, Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
West, Midwest, Northeast, Southwest, and Southeast
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What was the size of the USA Methanol market in terms of volume in 2023?
Ans:
The size of USA Methanol market has grown significantly in the historic period and reached approximately 11.5 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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