Product Code: ETC082063 | Publication Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Methanol Market registered a growth of 2.69% in value shipments in 2022 as compared to 2021 and an increase of 9.07% CAGR in 2022 over a period of 2017. In Methanol Market India is becoming more competitive as the HHI index in 2022 was 1469 while in 2017 it was 5072. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Methanol Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Methanol Market in 2022 was 66.39 while in 2017 it was 156.45. Saudi Arabia, Qatar, Iran, Oman and United Arab Emirates were among the top players of the market in 2022, where Saudi Arabia acquired the largest market share of 22.64% with a shipment value of 223.15 million USD in 2022 Saudi Arabia also offered the product below the average market price thus having a competitive advantage over others In 2017 Iran had the largest market share of 64.4% with the shipment value of 367.3 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Iranprice is lower than the average price, it provided a significant edge among other competitor in 2017.
Methanol is an important industrial chemical with a wide range of applications. It has multiple uses in the production of energy, solvents, plastics and other chemicals. Methanol demand in India is mainly driven by its usage to produce acetic acid, formaldehyde and Methyl tert-butyl ether (MTBE). The methanol market in India was valued at USD 816 million in 2020 and is expected to reach USD 1039 million by 2026 growing at a CAGR of around 4.3% With increased use of bioethanol as a substitute for gasoline fuel blend due to government support through tax incentives coupled with increasing awareness about environment protection among consumers; the market for methanol is anticipated to surge significantly over the comingyears.
1) Growing Applications: Methanol has been gaining popularity for numerous industrial uses such as manufacturing of fuels/solvents/chemical intermediates/pharmaceuticals among others. This has driven up its demand in India significantly over the past few years. 2) Government Initiatives: Government initiatives like focus on renewable energy sources have increased the use of methanol in fuel applications across India thereby driving up the overall market growth rate further. 3) Technological Advancements: The introduction of new technologies such as steam reforming process for methanol production has led to reduced cost which makes it more attractive for consumers thus leading to higher adoption rates over other traditional methods.
1) Availability Issues: There are limited number of suppliers offering methanol across India which leads to shortages and price fluctuations hindering overall industry growth rate significantly. 2) High Production Costs : Due to limited availability coupled with high cost associated with production process ,the overall profitability margins remain low making it difficult for players operating in this sector. 3) Environmental Regulations : Stringent environmental regulations imposed by government authorities regarding usage and disposal create additional burden on manufacturers thus decreasing their competitiveness.
Major players operating in India methonol market includes Reliance Industries Limited(RIL), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(GNFC), India Oil Corporation Limited(IOCL), Hindustan Petroleum Corporation Limited (HPCL), Maharashtra Seamless Ltd., Chevron Phillips Chemical Company LLC among others
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Methanol Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Methanol Market Revenues & Volume, 2020 & 2027F |
3.3 India Methanol Market - Industry Life Cycle |
3.4 India Methanol Market - Porter's Five Forces |
3.5 India Methanol Market Revenues & Volume Share, By Feedstock, 2020 & 2027F |
3.6 India Methanol Market Revenues & Volume Share, By Derivatives, 2020 & 2027F |
3.7 India Methanol Market Revenues & Volume Share, By Sub-Derivatives, 2020 & 2027F |
3.8 India Methanol Market Revenues & Volume Share, By End-Use Industry, 2020 & 2027F |
4 India Methanol Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Methanol Market Trends |
6 India Methanol Market, By Types |
6.1 India Methanol Market, By Feedstock |
6.1.1 Overview and Analysis |
6.1.2 India Methanol Market Revenues & Volume, By Feedstock, 2018 - 2027F |
6.1.3 India Methanol Market Revenues & Volume, By Natural Gas, 2018 - 2027F |
6.1.4 India Methanol Market Revenues & Volume, By Coal, 2018 - 2027F |
6.1.5 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.2 India Methanol Market, By Derivatives |
6.2.1 Overview and Analysis |
6.2.2 India Methanol Market Revenues & Volume, By Gasoline, 2018 - 2027F |
6.2.3 India Methanol Market Revenues & Volume, By MTO/MTP, 2018 - 2027F |
6.2.4 India Methanol Market Revenues & Volume, By Formaldehyde, 2018 - 2027F |
6.2.5 India Methanol Market Revenues & Volume, By Methyl Tertiary Butyl Ether (MTBE), 2018 - 2027F |
6.2.6 India Methanol Market Revenues & Volume, By Acetic Acid, 2018 - 2027F |
6.2.7 India Methanol Market Revenues & Volume, By Dimethyl Ether (DME), 2018 - 2027F |
6.2.8 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.2.9 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.3 India Methanol Market, By Sub-Derivatives |
6.3.1 Overview and Analysis |
6.3.2 India Methanol Market Revenues & Volume, By Gasoline additives, 2018 - 2027F |
6.3.3 India Methanol Market Revenues & Volume, By Olefins, 2018 - 2027F |
6.3.4 India Methanol Market Revenues & Volume, By UF/PF resins, 2018 - 2027F |
6.3.5 India Methanol Market Revenues & Volume, By VAM, 2018 - 2027F |
6.3.6 India Methanol Market Revenues & Volume, By Polyacetals, 2018 - 2027F |
6.3.7 India Methanol Market Revenues & Volume, By MDI, 2018 - 2027F |
6.3.8 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.3.9 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.4 India Methanol Market, By End-Use Industry |
6.4.1 Overview and Analysis |
6.4.2 India Methanol Market Revenues & Volume, By Construction, 2018 - 2027F |
6.4.3 India Methanol Market Revenues & Volume, By Automotive, 2018 - 2027F |
6.4.4 India Methanol Market Revenues & Volume, By Electronics, 2018 - 2027F |
6.4.5 India Methanol Market Revenues & Volume, By Appliances, 2018 - 2027F |
6.4.6 India Methanol Market Revenues & Volume, By Paints & Coatings, 2018 - 2027F |
6.4.7 India Methanol Market Revenues & Volume, By Insulation, 2018 - 2027F |
6.4.8 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
6.4.9 India Methanol Market Revenues & Volume, By Others, 2018 - 2027F |
7 India Methanol Market Import-Export Trade Statistics |
7.1 India Methanol Market Export to Major Countries |
7.2 India Methanol Market Imports from Major Countries |
8 India Methanol Market Key Performance Indicators |
9 India Methanol Market - Opportunity Assessment |
9.1 India Methanol Market Opportunity Assessment, By Feedstock, 2020 & 2027F |
9.2 India Methanol Market Opportunity Assessment, By Derivatives, 2020 & 2027F |
9.3 India Methanol Market Opportunity Assessment, By Sub-Derivatives, 2020 & 2027F |
9.4 India Methanol Market Opportunity Assessment, By End-Use Industry, 2020 & 2027F |
10 India Methanol Market - Competitive Landscape |
10.1 India Methanol Market Revenue Share, By Companies, 2020 |
10.2 India Methanol Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |