The Methanol Market size is expected to grow from USD 30.7 billion in 2021 to USD 36.3 billion by 2026, at a CAGR of 3.4% during the forecast period. Methanol is used across industries, such as Construction, Automotive, Electronics, Appliances, Paints & Coatings, Insulation, Pharmaceuticals, Packaging (PET bottles), and Solvents. In the methanol market, automotive is the key end-use industry owing to the wide applications of this methanol.

Coal is estimated to account for the fastest growth in the methanol feedstock segment from 2021 to 2026. Coal is considered to be the sustainable alternative raw material for large-scale methanol production which is one of the important reasons for the increase in demand for coal as the feedstock of methanol.

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Methanol-to-olefins/methanol-to-propylene (MTO/MTP) is estimated to account for the fastest growth in the methanol derivatives segment from 2021 to 2026. The growth is due to the rise in MTO/CTO plants in China to produce olefins through methanol, as the demand for olefins is growing in the petrochemical industry. The growing demand for methanol is highly attributed to its increasing demand in the automotive and construction end-use industries.

Olefins are estimated to account for the fastest growth in the methanol sub-derivatives segment from 2021 to 2026. The growth is due to the high demand for olefins in end-use industries such as the building and construction industry. The increase in the production of methanol and high feedstock Availability will increase the demand for methanol-based sub-derivatives such as olefins.