Methanol (CH3OH), also known as methyl alcohol, is a poisonous liquid primarily manufactured through oxidization of methane. It is also synthesized from carbon monoxide and hydrogen. Methanol is a volatile, colorless, toxic, and flammable liquid. It is generally used as antifreeze solution and fuel. It is also employed in the manufacture of other products such as MTO/MTP. Biomethanol is a form of methanol that is manufactured from biomass or other biodegradable waste products. It is known as the second generation biofuel. Biomethanol is chemically similar to methanol, as it a type of methanol that is manufactured from biogas. Biomethanol has properties and functionalities similar to that of methanol and is used as a fuel as well as a feedstock to produce other biofuels. Demand for methanol is high in the market. Large number of companies operate in the methanol business. They manufacture methanol for various purposes. New production plants and technologies are being established for the manufacture of methanol. Methanol is used in the production of formaldehyde, DME, acetic acid, MTBE, and others. However, its toxic nature and high usage of fuels for manufacturing methanol have led to development of a substitute. Biomethanol is one of the substitutes for methanol.
Based upon end-user, the biomethanol market can be segmented into construction, automotive, electronics, solvents and others. Demand for biomethanol is high, as it is a biofuel. The usage of biomethanol as a fuel is likely to lower pollution in the environment and reduce pressure over other fuels such as natural gas and coal. Biomethanol as a product is primarily used in automotive and construction segments. Automotive and construction industries in Asia Pacific have been expanding due to the growth in economy and rise in population in countries such as India and China. Formaldehyde, which is one of the major derivatives of biomethanol, is employed in the manufacture of home construction materials for the construction industry. Biomethanol is also widely used in the automobile industry as coolant and fuel for internal combustion in engines. These varied applications of biomethanol and growth in automotive and construction industries in Asia Pacific are expected to drive the biomethanol market. Demand for biomethanol as fuel is rising due to the enactment of various regulations by governments due to environmental concerns. Akin to methanol, biomethanol is used for manufacturing various other products such as DME, MTBE, acetic acid, and formaldehyde.
In terms of region, Asia Pacific held major share of biomethanol market, followed by North America and Europe, in 2016. Asia Pacific is expected to be an attractive region of the biomethanol market in the near future due to the rise in population. Countries such as China and India are increasingly shifting toward biobased products. North America consists of developed countries and mature markets. The market in the region is likely to expand at a moderate pace in the near future. Middle East & Africa and Latin America held the least share of the market in 2016. Demand for biomethanol in these regions is anticipated to rise at a steady pace during the forecast period.
Key manufacturers operating in the biomethanol market include Mitsubishi Chemicals, Clariant AG, and Henan Tianguan Group Co. Ltd., BASF SE, DuPont, Bioamber Inc., Shandong Longlive Bio-Technology Co., Ltd and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.