Top Players in the Methanol Market

The global methanol market size reached US$ 36.3 Billion in 2023. Methanol (CH₃OH), also known as methyl alcohol or wood alcohol, is a light, colorless, volatile liquid alcohol with a distinctive odor. It is manufactured using various domestic carbon-based feedstocks, such as biomass, natural gas, fuel cells, and coal. It is miscible in water, alcohol, ether and ketones and has a low rate of evaporation and enhanced heat energy. Owing to these properties, methanol is widely used to manufacture formaldehyde, acetic acid, dimethyl terephthalate (DMT), methyl tertiary butyl ether (MTBE), tertiary amyl methyl ether (TAME), dimethyl ether (DME), and biodiesel.

As per the analysis by IMARC Group, the top methanol companies are using alternative energy resources, such as coke oven gas, flue gases, and biogas from fossil fuel power plants to produce methanol. This can be attributed to the depleting fossil fuel resources and the degrading environmental conditions caused by greenhouse gas (GHG) emissions. Besides this, the leading market players are investing in research and development (R&D) activities to develop advanced production methods, such as the BASF and ICI processes. They are also expanding their production capacities by establishing new plants in numerous countries to serve the growing markets and gain upcoming opportunities. For instance, Celanese Corporation expanded its production capacity at the manufacturing facility located in Texas, United States, to increase the methanol production by 125% from the original capacity. Looking forward, IMARC Group expects the market value to reach US$ 55.2 Billion by 2032, exhibiting a CAGR of 4.6% during the forecast period (2024-2032).

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Top Methanol Companies and Leader Worldwide:

Methanex Corporation

Establishment: 1968 
Headquarters: Vancouver, Canada 
Website: https://www.methanex.com

Methanex Corporation is one of the leading distributors, suppliers, and marketers of methanol and petrochemical products worldwide. It produces methanol that is used to make an array of consumer and industrial products, such as paint, windshield washer fluid, silicone sealants, plywood floors, and synthetic fibers. The company’s global operations are supported by an extensive global chain of storage facilities, terminals, and the world’s largest dedicated fleet of methanol ocean tankers. At present, Methanex operates production sites in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States. 

LyondellBasell Industries Holdings B.V.

Establishment: 2007
Headquarters: Rotterdam, The Netherlands
Website: https://www.lyondellbasell.com

LyondellBasell Industries Holdings B.V. is a producer and a marketer of polypropylene and advanced polyolefin products. It also produces ethylene, propylene, polyolefins, and oxyfuels. The company operates in six segments, namely intermediates and derivatives (I&D), olefins and polyolefins-Americas (O&P-Americas), refining and technology, advanced polymer solutions (APS), and olefins and polyolefins-Europe, Asia, international (O&P-EAI). Apart from this, the organization sells its products in numerous countries and is the largest licensor of polyolefin technologies.

Methanol Holdings (Trinidad) Ltd

Establishment: 1997
Headquarters: Point Lisas, Trinidad, and Tobago
Website: https://www.proman.org

Methanol Holdings (Trinidad) Ltd., a part of Proman Company and owned by Consolidated Energy Limited, is engaged in the production, distribution, and sales of methanol, fertilizer, and other natural gas-derived products. The company is one of the largest methanol suppliers to the North American and European markets. It owns five methanol plants and a urea ammonium nitrate, ammonia, and melamine (AUM) complex, comprising seven other individual plants. Besides this, the company also added an M5000 mega plant, one of the largest stand-alone methanol plants in the world, to expand its production capacity up to 5000 Metric Tons per day.

BASF SE

Establishment: 1865 
Headquarter: Ludwigshafen, Germany 
Website: https://www.basf.com

BASF is a multinational chemical company that produces chemicals, plastics, crop protection, performance-enhancing, and oil and gas products for various industry verticals, such as coatings, automotive, construction, and health and nutrition. The company operates in six segments, namely chemicals, materials, nutrition and care, surface technologies, industrial solutions, and agricultural solutions. Under the chemicals segment, it produces a wide range of chemicals such as solvents, amines, glues, resins, petrochemicals, and inorganic chemicals for the pharmaceutical, construction, and automotive industries. Currently, BASF has joint ventures in more than 80 countries and operates six integrated production sites across Europe, Asia, Australia, and Africa.

Saudi Basic Industries Corporation (SABIC) 

Establishment: 1976 
Headquarters: Riyadh, Saudi Arabia 
Website: https://www.sabic.com

Saudi Basic Industries Corporation (SABIC) is a subsidiary of the petroleum and gas company Saudi Aramco. The company’s diverse product portfolio includes chemicals, industrial polymers, fertilizers, petrochemicals, metals, high-performance plastics, ethylene, benzene, xylene, methanol, industrial gases, thermoplastic resins, melamine, urea fertilizers, and flat hot and cold rolled steel products. At present, the company has operations in over 50 countries with a global workforce of over 32,000 employees. In addition, SABIC primarily markets its goods in America, Europe, the Middle East, and the Asia Pacific regions.

Mitsubishi Gas Chemical Company, Inc.

Establishment: 1971
Headquarters: Tokyo, Japan
Website: https://www.mgc.co.jp/eng/

Mitsubishi Gas Chemical Company is one of the leading chemical manufacturers in Japan, which primarily produces chemical products and engineered materials. It operates under natural aromatic-related chemicals, functional chemicals, gas-related chemicals, specialty functional materials, and real estate business segments. The company’s natural gas chemicals segment produces methanol, ammonia, and their derivates. In contrast, the aromatics chemicals division manufactures xylenes and nylon products that are used to manufacture plastics, coatings, and adhesives. On the other hand, the specialty chemicals unit produces hydrogen peroxide and plastic resins. Besides this, through its other two segments, Mitsubishi produces materials, such as circuit boards and plastics, for the electronics industry.

Metafrax Chemicals

Establishment: 1955
Headquarters: Gubakha, Russia
Website: https://metafrax.ru

Metafrax Chemicals is among the leading producers of methanol and methanol-derived products in Russia. It produces urotropine, pentaerythritol technical, technical pentaerythritol filtrate, formalin technical, urea-formaldehyde resins, and urea-formaldehyde concentrate. These chemicals and feedstock are used to manufacture synthetic resins and plastics, adhesives, paints, insulation materials, disinfectants, tanning agents, and organic synthesis processes. Currently, the company supplies its products to more than 20 countries, including the United Kingdom, Austria, Germany, Finland, Switzerland, Japan, Brazil, Australia, and others.

Yanzhou Coal Mining Company

Establishment: 1997
Headquarters: Jining City, China
Website: http://www.yanzhoucoal.com.cn

Yanzhou Coal Mining Company, a controlled subsidiary of Yankuang Group and Shandong Energy Group Company Limited, is engaged in underground mining coal preparation and sales and railway transportation service of coal. It also produces coal chemicals, such as methanol, liquid wax, acetic acid, stable light hydrocarbon, thermal, and cooking coal, for metallurgy, electric power, and chemical industries. Apart from this, the organization manufactures, repairs, and sells coal mining and excavation equipment in South Korea, Japan, and Australia. Some of the company’s subsidiaries include Shandong Yanmei Shipping Co., Yancoal Australia Pty, Limited., Auster Coal Mine Limited., Ltd., Yanzhou Coal Yulin Power Chemical Co., Ltd., and Shanxi Neng Hua.

Petroliam Nasional Berhad (PETRONAS)

Establishment: 1974
Headquarters: Kuala Lumpur, Malaysia
Website: https://www.petronas.com

PETRONAS is an oil and gas company owned by the Government of Malaysia. It is engaged in a broad spectrum of petroleum activities, including upstream exploration and production of oil and gas, downstream oil refining, marketing and distributing petroleum products, gas transmission pipeline network operations, marketing of liquefied natural gas, automotive engineering, and property investment. Besides this, PETRONAS has over 100 subsidiaries, including PETRONAS Dagangan Berhad, MISC Berhad for Logistics and Maritime, PETRONAS Gas Berhad, PETRONAS Chemicals Group Berhad, and KLCC Property Holdings Berhad.

Celanese Corporation

Establishment: 1916
Headquarter: Texas, United States
Website: https://www.celanese.com

Celanese Corporation (CE) is a technology and specialty materials company that manufactures and sells high-performance engineered polymers across the globe. The company supplies acetyl products, including acetic acid, anhydride, and acetate esters, that are used as raw materials for colorants, paints, adhesives, coatings, and pharmaceutical applications. It also processes chemical raw materials, such as methanol, ethylene, carbon monoxide, and other natural products, into thermoplastic polymers and diverse chemical-based products. The enterprise markets these products to various industry verticals through the GUR, Celanex, Celcon, and Hostaform, Ecomid, Nylfor, and Frianyl brands.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the methanol market and regional North America, which has enabled clients to set up and expand their businesses successfully.

Some of the company’s offerings include:

• Market Research 
• Plant setup 
• Plant Expansion 
• Marketing and sales 
• Procurement and Distribution 
• Innovation and Product Development