India methanol market is anticipated to grow significantly rate in the projected period of 2028. The government’s efforts to promote methanol as a transportation fuel include setting up methanol fuel stations and retrofitting existing vehicles to run on methanol. Additionally, research and development are underway to manufacture methanol-powered vehicles and engines specifically designed to optimize methanol combustion efficiency.
Apart from transportation, methanol holds immense potential for industrial and power generation applications. It can be used as a feedstock to produce chemicals, plastics, and pharmaceuticals, thereby reducing reliance on imported raw materials. Methanol can also be employed in fuel cells to generate electricity, offering an alternative to traditional fossil fuel-based power generation.
As per the NITI Aayog, the methanol economy will also create close to five million jobs through methanol production, application, and distribution services. Additionally, USD 724.63 crore can be saved annually by blending 20% DME (di-methyl ether, a derivative of methanol) in LPG. India’s methanol production has witnessed a steady increase in recent years. Traditionally, methanol has been primarily imported to meet domestic demand. However, recognizing the need for self-sufficiency and reducing dependency on imports, India has embarked on an ambitious journey to boost its methanol production. Several government initiatives and policies have been implemented to encourage domestic methanol production and attract investment in the sector.
India’s growing population and expanding economy have resulted in increased energy demand, making it imperative to explore alternative energy sources. Methanol has emerged as a promising solution due to its numerous advantages. It can be used as a fuel in vehicles, an alternative to LPG for cooking, a source of power generation, and as a feedstock in various industries.
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Its clean-burning properties and lower carbon emissions compared to conventional fuels make it an attractive option for achieving sustainability goals. The chemical industry is a significant consumer of methanol, utilizing it as a building block for various products such as plastics, paints, and solvents. India’s growing chemical industry presents a vast opportunity for methanol utilization. By promoting methanol as a substitute for traditional feedstocks, the country can reduce its reliance on fossil fuels and move towards a more sustainable chemical manufacturing sector.
This will help the consumer save between USD 0.6-1.21 per cylinder. According to the Ministry of Road Transport & Highways, India is currently the sixth-largest consumer of oil in the world, consuming about 2900 billion liters of petrol and nine thousand billion liters of diesel annually. By 2030, consumption is expected to quadruple, making India the third-largest user. However, pollution will be reduced by more than 80% if, methanol is used in place of diesel and by 33% if methanol 15 (M15) is used in place of petrol.
Rising Demand from the Chemical Industry is Driving the Demand of Methanol
Policy and Regulatory Landscape
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India methanol market is segmented based on end-use, distribution channel, and region. Based on end-use, the India methanol market is segmented into formaldehyde, MTO/MTP, MTBE, acetic acid, gasoline blending, and others. Based on the distribution channel, the market is divided into direct sales and indirect sales. Based on region, the market is bifurcated into north, south, west, and east.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
Report coverage | Revenue forecast, volume forecasting, Company shares, competitive landscape, growth factors, and trends |
Segments covered | End-Use Distribution Channel Region |
Country scope | North, South, West, East |
Key companies profiled | Gujarat Narmada Valley Fertilizers and Chemicals Limited, Deepak Fertilizers and Petrochemical Corporation, Rashtriya Chemicals and Fertilizers, Assam Petrochemicals Limited And Bharat Heavy Electricals Limited |
Customization scope | Ten percent free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
In this report, India methanol market has been segmented into the following categories, in addition to the industry trends, which have been detailed below:
Competitive landscape
Company Profiles: Detailed analysis of the major companies in India methanol market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
India Bioethanol Market Value, Trends [2027], Economy, Expansion, Leader
[2028] Renewable Methanol Market Future, Outlook, Outlook, Segments
India Ethanol Market Value, Trends [2029], Economy, Expansion, Leader
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By End Use (Formaldehyde, MTO/MTP, MTBE, Acetic Acid, Gasoline Blending, Others)
6.2.2. By Distribution Channel (Direct Sales, Indirect Sales)
6.2.3. By Region
6.2.4. By Company (2022)
6.3. Market Map
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By End Use
7.2.2. By Distribution Channel
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By End Use
8.2.2. By Distribution Channel
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By End Use
9.2.2. By Distribution Channel
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By End Use
10.2.2. By Distribution Channel
11.1. Drivers
11.2. Challenges
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