Methane Market: By Source (Natural, Synthetic), By Application (Fuel, Natural Gas, Liquefied Natural Gas, Liquid-Methane Rocket Fuel, Chemical Feedstock), By End-Use Industry (Automotive, Aerospace & Defense) and Region – Global Forecast till 2023
Methane Market Overview:
Methane is the first member of the alkane family with one carbon atom. It is lighter than air and has a specific gravity of 0.554. It burns readily in air and is slightly soluble in water. Its boiling point is −162 °C and the melting point is −182.5 °C (−296.5 °F).
It can be obtained by natural as well as synthetic sources. It is used in a variety of applications such as fuel, natural gas, liquefied natural gas, liquid-methane rocket fuel, and as feedstock in chemical industries. This has resulted in its use in various end-use industries such as automotive, chemical, electrical, and aerospace & defense.
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Methane Market Key Players:
Some of the major players in the global Methane market are Oil and Natural Gas Corporation (India), Royal Dutch Shell PLC (The Netherlands), Senex Energy Limited(Australia), G3 Exploration (UK), Black Diamond Energy Inc.(US), Halliburton Co. (US), IGas Energy (UK), China National Offshore Oil Company (China), China National Petroleum Corporation (China), Metgasco Ltd. (US), BP PLC (UK) and TLOU Energy Ltd (Australia), Dart Energy Corporation (US), Bow Energy (Canada), American Gas Products (US), among others.
Methane Market Regional Analysis:
Based on region, the global methane market has been segmented into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest market share in 2017 and is projected to grow at the significantly high rate during the review period. In Asia-Pacific, India, Japan, China, Thailand and South Korea are the major contributors to the growth of this regional market. Among countries in Asia-Pacific region, India and China are the leading producer and consumer of methane. This is mainly attributed to the vast growth of application industries such as chemical, automotive, electrical and aerospace & defense industry in these countries.
China accounted for highest growth rate during the forecast period, it is estimated that by 2023, China alone is anticipated to account for approximately half of the global sale. Successful production of methane from methane hydrate reservoirs in future from south china sea is expected to make country leading provider of methane at cheaper cost.
Methane Market Segmentation:
The global Methane market has been segmented on the basis of source, application, end user industry and region.
Based on source, the global methane market has been segregated as natural and synthetic.
On the basis of application, the market has been divided into fuel, natural gas, liquified natural gas, liquified methane rocket fuel, chemical feedstock and others.
Based on end user industry, the global methane market has been segregated as Aerospace & Defense, Automotive, Chemical, Electrical and others.
The global Methane market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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