Ultra-high purity methanol is pure methanol that can be mostly used for semiconductor applications and the production of hydrogen for fuel cells. Methanol is a commonly used intermediate in the chemical industry for the production of acetyls products, proteins, plastics, and other derivatives. Robust growth of the semiconductor industry across the globe due to the rising adoption of technological advancements and industrial automation will accelerate the market growth.This growth is primarily driven by Increasing Use of Ultra High Purity Methanol as Hydrogen Source in Fuel Cell Vehicles
|Value Unit||USD (Million)|
|Key Companies in Study||PETRONAS Chemicals Group Berhad (Malaysia), Mitsubishi Gas Chemical (Japan), Sigma-Aldrich (United States), Alfa Aesar (United States), Honeywell (United States), Hwatsi Chemical Pvt. Ltd. (India), Otto kemi (India), Loba Chemie (India), Methanex Corporation (Canada), American Elements (United States), Celanese Corporation (United States), BASF (Germany) and IVICT Europe GmbH (Germany)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Chemicals sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Vendors, such as PETRONAS Chemicals Group Berhad (Malaysia), Mitsubishi Gas Chemical (Japan), Sigma-Aldrich (United States), Alfa Aesar (United States), Honeywell (United States), Hwatsi Chemical Pvt. Ltd. (India), Otto kemi (India), Loba Chemie (India), Methanex Corporation (Canada), American Elements (United States), Celanese Corporation (United States), BASF (Germany) and IVICT Europe GmbH (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2019, BASF, a global chemical company developed a process for the production of climate-friendly methanol. In the new process, syngas is generated by partial oxidation of natural gas rather than a combination of steam and autothermal reforming to eliminate co2 emission. With this, the aim of BASF is to produce hydrogen without any carbon emission.
In March 2021, Celanese Corporation announced the expansion of its capacity to utilize recycled CO2 for methanol production at Clear Lake, Texas Facility. Methanol is a key material in the manufacture of numerous acetyls products, including acetic acid, vinyl acetate monomer (VAM), ethyl acetate, and other derivatives. This carbon capture and reuse process are expected to produce sustainable methanol with a high capital efficiency at competitive pricing via an expansion of the company’s Fairway joint venture.The key players are expanding their facilities for methanol production in order to meet the global demand of consumers and expand themselves into other geographical regions. The key players are anticipated to keep a stronghold position in the market during the forecast period. Companies are also thinking about mergers & acquisitions, and partnerships as their strategic decisions.
- Increasing Use of Ultra High Purity Methanol as Hydrogen Source in Fuel Cell Vehicles
- Growing Demand for Ultra High Purity Grade Methanol in Chemical Industry for Manufacturing Plastic
- Inclination Towards the Recycled CO2 to Produce Sustainable Methanol at Competitive Price
- Stringent Regulations by the Regulatory bodies or government is the Major Restraint for the Market
Demand for High-Quality Proteins for Protein Drug Development and Other Pharmaceutical Applications and High Growth of Semiconductors in the Asia Pacific Region Especially in China Will Create Significant Opportunities
Availability of Methanol Substitutes like E85 Ethanol Can Create Hurdles for the Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Ultra High Purity Methanol Study Sheds Light on
The Ultra High Purity Methanol Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Ultra High Purity Methanol industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Ultra High Purity Methanol industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.