Methanol Catalyst Market to Reach $8.0 Billion, Globally, by 2032 at 3.2% CAGR: Allied Market Research

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Jun 09, 2023, 10:01 ET

The global methanol catalyst market is experiencing growth due to the factors such as surge in construction activities, wide usage of methanol in various industries including automobile and pharmaceutical, and innovations in packaging products.

PORTLAND, Ore., June 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Methanol Catalyst Market by Type (Copper-Based Catalysts, Zinc-Based Catalysts, Others), by Application (Industrial Field, Automobile Field, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global methanol catalyst market was valued at $6.0 billion in 2022, and is projected to reach $8.0 billion by 2032, growing at a CAGR of 3.2% from 2023 to 2032.

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Prime determinants of growth

The increasing demand for methanol in various industries, such as automotive, construction, electronics, and pharmaceuticals, is a major driver for the methanol catalyst market. However, methanol prices are subject to market fluctuations and can be influenced by factors such as feedstock availability, energy prices, and global economic conditions. Volatile methanol prices can pose challenges for methanol catalyst manufacturers, impacting their profitability and investment decisions. Furthermore, Methanol can be produced from renewable sources, such as biomass or carbon dioxide capture and utilization. The increasing emphasis on renewable energy and sustainability presents opportunities for catalyst manufacturers to develop catalysts specifically designed for renewable methanol production. This can support the growth of green and sustainable methanol production processes.

Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$6.0 billion
Market Size in 2032	$8.0 billion
CAGR	3.2 %
No. of Pages in Report	320
Segments covered	Type, Application, Region.
Drivers	Surge in construction activities. Innovations in packaging of products. wide usage of methanol in various end-use industries including automobile and pharmaceutical
Opportunities	Concerns regarding environment leading to sustainable packaging solutions.
Restraints	Fluctuations in the raw materials prices.

The copper-based catalysts segment to maintain its leadership status throughout the forecast period

Based on type, the metals segment held the highest market share in 2022, accounting for nearly two-fifths of the global methanol catalyst market revenue and is estimated to maintain its leadership status throughout the forecast period. The drivers of copper-based catalysts can be attributed to the increasing demand for methanol as a feedstock for the production of chemicals and fuels, as well as the need to improve the efficiency and sustainability of the methanol production process. However, zinc-based catalysts is projected to grow at the highest CAGR of 3.44% from 2023 to 2032. Zinc-based catalysts have high activity and selectivity towards methanol production, leading to higher yields and fewer by-products. This results in improved efficiency of the methanol production process, reducing costs and increasing profitability.

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The industrial field segment to maintain its leadership status throughout the forecast period

Based on application, the industrial field segment held the highest market share in 2022, accounting for more than half of the global methanol catalyst market and is estimated to maintain its leadership status throughout the forecast period. This segment is also projected to grow at the highest CAGR of 3.33% from 2023 to 2032. Governments worldwide are implementing supportive policies and providing incentives to promote the use of renewable energy sources and reduce dependence on fossil fuels. These policies, such as renewable energy targets, carbon pricing mechanisms, and financial incentives, create favorable conditions for the growth of the energy methanol catalyst market.

Europe to maintain its dominance by 2032

Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for nearly two-thirds of the global market and is projected to maintain its dominant share in terms of revenue by 2032. The Europe's methanol catalyst market is influenced by several factors that drive its growth and development. Europe has a significant demand for methanol, which serves as a versatile chemical and feedstock in various industries. The growing demand for methanol as a fuel, solvent, and chemical intermediate drives the demand for methanol catalysts in the region. However, the Asia-pacific region is projected to grow at the highest CAGR of 3.46% from 2023 to 2032. Asia-Pacific is a major producer of methanol, with countries such as China, India, and Indonesia having significant production capacities. The expansion of methanol production facilities in the region drives the demand for methanol catalysts used in methanol synthesis processes.

Leading Market Players: -

· BASF SE
· CLARIANT
· JOHNSON MATTHEY
· TOPSOE
· MITSUBISHI GAS CHEMICAL COMPANY, INC.
· SINOPEC CATALYST CO., LTD.
· SüD-CHEMIE INDIA PVT. LTD.
· AIR LIQUIDE ENGINEERING AND CONSTRUCTION
· CASALE SA
· SMART CATALYST

The report provides a detailed analysis of these key players in the global methanol catalyst market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:
https://www.alliedmarketresearch.com/methanol-catalyst-market/purchase-options

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