South Korea Methanol Market Size & Outlook, 2025-2028
South Korea Methanol Market Size
According to Straits Research analysis, the South Korea Methanol Market was valued at USD 629.62 Million in 2024 and is projected to reach USD 804.95 Million by 2028, expanding at a CAGR of 6.3% during the forecast period. Primary demand drivers include its extensive applications in agriculture for making pesticides; chemical industry for the production of formaldehyde and acetic acid; energy sector where it is used as alternative fuel; along with other industrial use-cases. Emerging green production trends, technological advancements, and a focus on sustainability are also significant. Potential for methanol export infuses further impetus in the market. South Korea is poised to enhance its market positioning through environmentally conscious production methods and policy-facilitated trade opportunities in the forecast period.
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea Methanol Market Highlights
- Natural Gas held the leading position among Feedstock segments in 2024, based on market size.
- Natural Gas is projected to post the fastest growth rate, sustaining its position as the most attractive Feedstock segment during the forecast horizon.
- In 2024, South Korea accounted for 1.95% of the global methanol market size.
- By 2028, China is expected to lead the global methanol market in terms of market size.
- Within Asia Pacific, China is projected to dominate the regional methanol market size by 2028.
- India is identified as the fastest-growing market in Asia Pacific, anticipated to reach USD 58503 Million by 2028.
South Korea Methanol Market Revenue Share 2024
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2019-2028 |
| Historical Period | 2019-2023 |
| Forecast Period | 2025-2028 |
| Market Size In 2024 | USD 629.62 Million |
| Market Size In 2028 | USD 804.95 Million |
| Largest segment | Natural Gas |
| Fastest segment | Natural Gas |
| Units | Revenue in USD Million |
| CAGR | 6.3% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
South Korea Methanol Market Share By Feedstock
Segmentation Covered
| Segments | Sub Segments |
|---|---|
| Feedstock |
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| Application |
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South Korea Methanol Market By Feedstock 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea Methanol Market By Application 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
