The global methanol market size reached USD 38.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 56.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.4% during 2025-2033. The rapidly expanding chemical industry, widespread product employment in manufacturing antibiotics and antifungals, significant growth in the automotive industry, and the implementation of various government initiatives are some of the major factors propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 38.0 Billion
Market Forecast in 2033	USD 56.2 Billion
Market Growth Rate 2025-2033	4.4%

IMARC Group provides an analysis of the key trends in each segment of the global methanol market report, along with forecasts at the global and regional levels from 2025-2033. Our report has categorized the market based on the application.

According to Cognitive Market Research, the worldwide Methanol market will be USD 30.1 billion in 2024 and will expand at a compounded annual growth rate (CAGR) of 4% from 2024 to 2031. Market Dynamics of Methanol Market Key Drivers for Methanol Market Increasing demand from the construction and automobile sectors - Methanol is becoming more and more in demand in the building and automobile sectors. When Methanol is utilized in place of other fuels in automobile and aviation engines, it performs similarly well. Methanol and its blends were first employed in the automobile industry by China. Biodiesel and MTBE, petroleum derivatives, are both made from Methanol. A variety of construction materials are made using formaldehyde, which is produced from Methanol. Heavy fuels, like petrol and diesel, are the main causes of environmental pollution worldwide, which has a direct impact on climate and global warming. It is anticipated that the fuel industry's transition to Methanol and fuels combined with it will greatly mitigate the consequences of climate change. Methanol is liquid at room temperature and non-cryogenic; therefore, bunkering would be reasonably easy to implement in marine applications. Owing to its lower emissions, Methanol is finding more and more uses as a maritime fuel thanks to regulatory reforms and the increased interest in clean-burning fuels. Key Restraints for Methanol Market Ethanol has several benefits as a fuel, including less toxicity, a higher octane number, and little to no contamination than Methanol. The extraction of petroleum reserves in various countries and environmental difficulties related to Methanol are some of the political and environmental hurdles impeding market expansion.. Introduction of the Methanol Market Methanol is a colorless, light, unstable, and flammable substance with a distinctive fragrance. Due to its toxicity, denatured alcohol—which finds use in industrial settings—is typically created by mixing this molecule with ethyl alcohol. The product's growing appeal as a substrate for making a variety of chemicals, including polymers and solvents, is anticipated to propel the market. End users' transition to sustainable fuels will present market expansion prospects. This alcohol's adaptability has been usefully applied to meet the demands of the expanding global community. Its usage is predicted to rise due to growing demand from sectors including construction and the automobile industry globally. Adhesives, plastics, textiles, insulating materials, and other chemicals and compounds all use methyl alcohol as a precursor. Plastics have a significant impact on automobiles since they lower the vehicle's overall weight, giving it characteristics akin to those of metal and increasing fuel efficiency. Plastic is used in a variety of construction-related applications, from pipes to crane ropes. Additionally, the furniture and consumer goods industries' need for adhesives will fuel the market's expansion. Furthermore, throughout the projected period, the growing use of Methanol in fuel blending applications is anticipated to accelerate the market's expansion.

The global market of methanol was valued at over 37 billion U.S. dollars in 2021. This figure is forecast to experience continual growth over the next decade, reaching a value of nearly 62 billion U.S. dollars by 2030. This would represent an increase of roughly 67 percent in comparison to 2021.

The North America methanol market size was valued at USD 10.89 Million Tons in 2024. Looking forward, IMARC Group estimates the market to reach USD 19.42 Million Tons by 2033, exhibiting a CAGR of 6.37% from 2025-2033. The North America methanol market is driven by increasing demand in automotive fuels, the expansion of methanol-to-olefins (MTO) technologies, and rising demand for formaldehyde production. Additionally, the growth of energy-efficient solutions and the push for cleaner energy alternatives fuel the demand for methanol as a renewable energy source.

Methanol is the simplest alcohol and is a type of petrochemical. Petrochemicals, also known as petroleum distillates, are chemicals obtained from petroleum by refining. The market size of methanol in the United States is forecast to grow to over 8.4 million metric tons by 2027.

The Europe Methanol market demand stood at nearly 11.3 million tonnes in 2023 and is expected to grow at a CAGR of 3.96% during the forecast period until 2034.

The methanol market size is predicted to reach $40.51 billion in 2024 to $68.56 billion by 2035, growing at a CAGR of 4.9% from 2024 to 2035.

Global Renewable Methanol Market revenue is expected to reach USD 254.6 Billion by 2025. It is projected to be worth USD 631.1 Billion by 2035, growing at a healthy CAGR of 9.5% during the forecast period.

Metric	Value
Market Size (2025E)	USD 254.6 Billion
Market Value (2035F)	USD 631.1 Billion
CAGR (2025 to 2035)	9.5%

Country-wise outlook

Country	CAGR (2025 to 2035)
USA	10.1%

Country	CAGR (2025 to 2035)
UK	9.2%

Country	CAGR (2025 to 2035)
European Union (EU)	9.6%

Country	CAGR (2025 to 2035)
Japan	9.4%

Country	CAGR (2025 to 2035)
South Korea	9.5%

Competitive Outlook

Company Name	Estimated Market Share (%)
Methanex Corporation	12-17%
OCI N.V.	10-14%
Carbon Recycling International (CRI)	9-13%
Enerkem Inc.	7-11%
BioMCN (OCI N.V.)	5-9%
Other Companies (combined)	40-50%

Methanol Market size was valued at USD 34.52 Billion in 2024 and is projected to reach USD 42.19 Billion by 2031, growing at a CAGR of 2.80% from 2024 to 2031.

Global Methanol Market Drivers

Rising Demand for Petrochemicals: Methanol is a crucial feedstock for various chemicals like formaldehyde, acetic acid, and olefins, used extensively in construction, automotive, and consumer goods industries.
Methanol as an Alternative Fuel: Growing environmental concerns and regulations on emissions are pushing the adoption of cleaner fuels. Methanol is gaining traction as a promising alternative fuel, particularly in transportation (racing fuels, biofuels) due to its lower emissions compared to conventional fuels.
Shifting Feedstock Sources: Natural gas is the dominant feedstock for methanol production due to its efficiency and relatively lower cost. However, the exploration of alternative feedstocks like coal and biomass for methanol production is another factor influencing the market.

The global Methanol Market is poised to reach USD 49.78 billion by 2034, growing at a CAGR of 4.7% from 2025 to 2034

The global renewable methanol market size reached USD 3.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.7 Billion by 2033, exhibiting a growth rate (CAGR) of 4.81% during 2025-2033. The increasing awareness of environmental issues among the masses, the rising adoption of renewable methanol as both an additive and a substitute for gasoline and the rising stringent emissions by the government are some of the major factors propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 3.8 Billion
Market Forecast in 2033	USD 5.7 Billion
Market Growth Rate 2025-2033	4.81%

IMARC Group provides an analysis of the key trends in each segment of the global renewable methanol market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on feedstock, application and end use industry.

Methanol Market size was valued at around USD 32.19 billion in 2024 and is projected to reach USD 42 billion by 2030 with a CAGR of around 4.5%.

The U.S. renewable methanol market is expected to surge USD 6940.61 million by 2032, exhibiting a CAGR of 53.7% during the forecast period.

In 2020, China accounted for 40 percent of the world's methanol demand, while the rest of Asia accounted for an additional 46 percent of the worldwide demand, becoming the region where the demand for methanol was the highest by far. Next were North America and Europe, each representing around five percent of the global methanol demand that year. In 2021, some 11.7 million metric tons of methanol were used for gasoline blending and combustion.

The growth of the green methanol market is closely tied to the growing demand for green methanol from the maritime industry as a clean and sustainable fuel source.

The methanol prices in the United States for Q3 2024 reached 737 USD/MT in September. The market witnessed a notable rise in prices due to supply chain interruptions and reduced imports, creating a tight market. The strong demand from industries like formaldehyde and chemicals, along with rising raw material costs and port delays, further pushed prices higher, leading to a positive market outlook.

The global methanol market contracted to $21.6B in 2024, with a decrease of -7.7% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $23.4B in 2023, and then contracted in the following year.

Explore the global methanol market growth projections from 2024 to 2030 with an expected increase in consumption volume and market value. Learn more about the anticipated CAGR and market trends.

The global Renewable methanol market is targeting USD 48,382.65 million by 2032 and is expected to grow at a compound annual growth rate (CAGR) of 53.8%

Green Methanol Market size was valued at USD 3.89 billion in 2024 and is projected to reach USD 12.45 billion by 2032, growing at a CAGR of 15.65% from 2025 to 2032.

The Green Methanol Market is driven by increasing global efforts to reduce carbon emissions and the rising adoption of sustainable fuels in marine, automotive, and industrial sectors. Stringent government regulations, incentives for clean energy, and the push for carbon-neutral shipping are accelerating demand. Additionally, advancements in renewable methanol production from biomass, CO₂ capture, and green hydrogen are making it a viable alternative to conventional fuels.

Rising investments in green energy infrastructure and corporate sustainability commitments are further fueling market growth. The growing preference for eco-friendly chemicals in various industries, along with technological innovations reducing production costs, is enhancing the competitiveness of green methanol.