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the automotive sector. Formaldehyde dominated the global market contributing to USD 6.2 b illion in 2016.
Formaldehyde is used to produce wood products such as plywood and adhesives.
The high demand for formaldehyde is owing to its high purity, low cost, and the abundant use of formaldehyde
in various chemical reactions. Acetic acid and formaldehyde are widely used by-products of methanol. DME
and fuel blending have also been recognized as enormously profitable application areas such as clean fuel for
transportation, cooking, heating and power generation and is expected to record a 9.0% CAGR dur ing the
forecast period.
With diminishing crude oil reserves, demand for substitute transportation fuel has stimulated the market for
blended and clean fuel such as methanol and its derivatives. It is a potential replacement for traditional
transportation fuel such as diesel and petrol, which is projected to fuel the market for methanol over the
forecast period. However, with the availability of cheap and low-cost substitutes and alternatives of methanol
such as bio ethanol or ethanol fuel, which bounds the methanol consumption, and constant fluctuation in the
prices of crude oil would impact the affordability of the chemical, and its derivatives can hinder the growth of
the methanol industry during the forecast period.
Hexa Research has segmented the global methanol market based on end-use and region:
Segmentation by End-Use, 2014 - 2024 (Kilo Tons) (USD Million)
• Formaldehyde
• Acetic Acid
• MTBE
• DME
• Fuel blending
• MTO
• Biodiesel
• Others
Segmentation by region, 2014 - 2024 (Kilo Tons) (USD Million)
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Segmentation by key country, 2014 - 2024 (Kilo Tons) (USD Million)
• U.S.
• Japan
• Germany
• China
• India
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