Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Methanol Market size was estimated at USD 35.3 billion in 2024 and is expected to surpass USD 61.7 billion by the end of 2037, rising at a CAGR of 4.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of methanol is estimated at USD 36.6 billion.
The methanol market is growing fast due to high demand for methanol-based fuels for transportation and marine applications. The world is seeing an annual increase in global demand for methanol of 7-9%, and capacity is forecasted to grow from 121 million tons to 201 million tons by 2025. In China, the 8 million methanol-powered vehicles form over 6% of the national fuel pool and emit 27% more 3 than gasoline vehicles. The maritime sector is embracing methanol, as exemplified by the order of dual-fuel vessels by Maersk and CMA CGM.
India is promoting methanol at its fuel stations and the retrofitting of vehicles. NITI Aayog projected 6 million jobs and $724.64 crore government savings from 21% DME blending in LPG. In 2023, global methanol trade totaled $11.3 billion and was down from $14.3 billion in 2022. Top 3 exporters: Trinidad and Tobago ($1.76B), Saudi Arabia ($1.69B); top 3 importers: China ($3.18B), India ($937M). OCI Global intends to double its U.S. green methanol production to 400,001 metric tons per year.
