The Methanol Market was valued at approximately USD 73.8 billion in 2024 and is expected to grow at a substantial CAGR of around 10.3% during the forecast period (2025-2033)
The global Methanol market has several major players, including Methanex Corporation, BASF SE, Mitsubishi Gas Chemical Company, Mitsui & Co. Ltd., and Metafrax Chemicals. More information about these companies has been provided below:
Methanex Corporation is a company that deals in the production as well as the selling of methanol and is currently the biggest supplier in the global market, with processing plants and supply chain franchises across the world. The Canadian-based firm is involved in the methanol industry and provides products and services to several industries like energy, automotive, construction, and manufacturing, among others. Methanex Corporation is also actively concentrating on low-carbon schemes and is looking at options such as the production of bio-methanol to meet the rising demand for a clean energy source.
Methanol is a strategic raw material in the manufacture of formaldehyde, acetic acid, and other chemicals at BASF SE, which is a chemical firm dealing in chemicals and materials globally. This company operates in many countries and hence is among the largest consumers of methanol in the world. This is not limited to the cargo of sailing ships but is also in line with other collaborative projects at BASF related to the so-called Green Methanol, mainly due to its focus on sustainability and circular economy strategies.
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MGC is a Japan-based chemical firm that specializes in basic and fine chemicals and is first in terms of revenue among Japanese chemical firms. As an integrated player in the methanol business, MGC is engaged in production and investment on methanol manufacturing projects in Asia and the Middle East region. The management of the company is heavily involved in the use of methanol as fuel as well as a basic ingredient in the manufacturing of industrial chemicals.
Mitsui & Co. Ltd. is among the biggest Japanese trading and investment companies with business interests in a wide variety of industries. It has strategic interests in methanol production schemes; it has invested in the methanol production joint operations in Saudi Arabia and Trinidad. Mitsui’s global scope in the methanol business includes investment and supply chain participation, as well as supply agreements with various industries such as energy, chemicals, and transport.
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Metafrax Chemicals is now a member of the Metafrax Group of organizations, which is a leading consumer of methanol in Russia and a manufacturer of formalin and pentaerythritol. It has one of the largest methanol plants in Russia, with its products consumed both domestically and in other countries. Metafrax is also progressing into downstream chemical processing, and the company’s strategic development plan is to increase the level of value addition in the methanol value chain.
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