Global methanol capacity is poised to see considerable growth over the next nine years, potentially increasing from 134.2 million tonnes per annum (mtpa) in 2017 to 243.1 mtpa in 2026. IGP Methanol LLC, NW Innovation Works Inc, and China Petrochemical Corp are the top three companies by planned and announced capacity additions globally over the next eight years, with capacities of 7.2 mtpa, 7.2 mtpa, and 3.6 mtpa, respectively, in 2026, according to GlobalData, a leading data and analytics company.
The company’s report: ‘Global Methanol Capacity and Capital Expenditure Outlook, 2018’ states that around 74 planned and announced plants are slated to come online in the next nine years, primarily in the Middle East and Asia.
Among regions, Asia leads with the largest capacity contribution globally, with a capacity of 96.3 mtpa from 152 active plants by 2018.
Among countries, China leads with the largest capacity contribution globally, with 81.5 mtpa from 142 active plants, as of 2017, the main capacity contribution being from Zhongtian Hechuang Energy Company Ordos Methanol Plant.
In terms of upcoming plants and the expansion of existing plants, among regions, the Middle East leads with the largest capacity additions.
Dayanand Kharade, Oil & Gas Analyst at GlobalData, commented, “Globally, natural gas leads with the largest capacity, contributing a capacity of 71.7 mtpa, as of 2017. It is followed by coal and naphtha, with a capacity of 61.4 mtpa and 1.1 mtpa, respectively. For the feedstock natural gas, the main capacity is from China, with a capacity of 8.7 mtpa.”
Methanex Corporation, China Coal Energy Company Limited, and China Petrochemical Corp are the top global producers of methanol, as of 2017. Methanex Corporation tops the list, with an estimated capacity contribution of 9.4 mtpa from 11 plants globally. China Coal Energy Company Limited and China Petrochemical Corp follow with 3.7 mtpa (three plants) and 3.6 mtpa (nine plants), respectively.
Kharade continues, “Among regions, North America leads with estimated capital expenditure (capex) of US$13.8bn on 16 planned and announced methanol plants between 2018 and 2025. The main capex spending will be on NW Innovation Works St. Helens Methanol Plant, with US$2.6bn of capex spending.”
Information based on GlobalData’s report: Global Methanol Capacity and Capital Expenditure Outlook, 2018 – IGP Methanol and NW Innovation Lead Global Capacity Additions
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