GlobalData’s latest report, ‘Global Methanol Capacity and Capital Expenditure Outlook, 2022-2030 – Former Soviet Union Lead Global Methanol Capacity Additions’, states that the global capacity is poised to see considerable growth over the upcoming years, potentially increasing from 160.46mtpa in 2021 to 292.56mtpa in 2030, registering total growth of 82%. Around 124 planned and announced plants are slated to come online by 2030, primarily in the Former Soviet Union (FSU), Middle East and Asia.
The FSU, Middle East and Asia are the top regions contributing to capacity additions in the upcoming years. In the FSU the majority of capacity additions are in Russia, with planned and announced capacity additions of about 34.6mtpa by 2030. Capital expenditure (capex) for these plants totals $23.3bn by 2030. Sherwood Energy is the top company accounting for the major capacity additions in Russia.
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The Middle East has 30 planned and announced plants, of which Iran has 26 with a total capacity of 30.95mtpa by 2030. Capex for these plants in Iran is estimated to total $10bn by 2030. The National Petrochemical is the top company accounting for the major capacity additions in Iran.
In Asia, the majority of capacity additions are in China, with planned and announced capacity additions of about 21.8mtpa by 2030. Capex for these plants totals $8.3bn by 2030. China Shenhua Energy is the top company accounting for the major capacity additions in China.
In North America, the US plans to spend $5.9bn to add a capacity of about 11.8mtpa, expected onstream by 2030. IGP Methanol is the top company accounting for the major capacity additions in the US.
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In Africa, Nigeria plans to spend $3.6bn to add a capacity of about 5.2mtpa, expected onstream by 2030. Brass Fertilizer & Petrochemical is the top company accounting for the major capacity additions in Nigeria.
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By GlobalDataIn Oceania, Australia plans to spend $4.3bn to add a capacity of about 5.5mtpa, expected onstream by 2030. Melbana Energy is the top company accounting for the major capacity additions in Australia.
In Europe, Italy and Romania plan to spend $1.0bn to add capacity of about 1.6mtpa, expected onstream by 2030.
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