LONDON--(BUSINESS WIRE)--The methanol market is expected to grow by USD 15.62 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the methanol market in optimistic, probable, and pessimistic forecast scenarios.
The methanol market will witness Neutral and At par impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis and towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Methanol Market Participants:
BASF operates its business under various segments such as chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and other. The company offers methanol under the brand, EU-REDcert-methanol.
BP Plc operates its business under three segments, which include Upstream, Downstream, and Rosneft. The company produce methanol as a byproduct of acetyls production. The company has one of the largest single-train methanol plants, producing up to 1,822Kmt per year.
Celanese Corp. has business operations under various segments, namely Engineered Materials, Acetate Tow, and Acetyl Chain. The company offers methanol which is a raw material used for the production of acetic acid and other key chemical products.
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Methanol Market 2020-2024: Segmentation
Methanol is segmented as below:
- Paints and coatings
- Acetic acid
- North America
- South America
The methanol market is driven by increasing adoption of the MTO technology. In addition, other factors such as rising demand for methanol from China is expected to trigger methanol market toward witnessing a CAGR of over 10% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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