Global methanol capacity is poised to see considerable growth over the upcoming years, potentially increasing from 142.91 million tonnes per annum (mtpa) in 2018 to 284.72 mtpa in 2030 according to a recent GlobalData report.
Around 111 planned and announced plants are slated to come online globally, primarily in the Middle East and North America.
Iran is planning to start 24 planned and announced methanol plants, with a total capacity of about 36.71 mtpa, by 2030. The country is expected to spend a capital expenditure (capex) of $14.63bn. Major capacity additions will be from Kaveh Methanol and National Petrochemical.
The US leads in North America, with planned and announced capacity additions of about 25.52 mtpa by 2030. The country is expected to spend a total of US$13.59 billion by 2030. IGP Methanol and NW Innovation Works are the top companies accounting for major capacity additions in the US.
In the Former Soviet Union the majority of capacity additions are in Russia, with planned and announced capacity additions of about 26.45 mtpa. The country is expected to spend a capex of about US$18.65 billion by 2030. Major capacity additions will be from Oteko.
Asia has 23 planned and announced methanol plants, of which China has 16 with a total capacity of 20.02 mtpa by 2030. The capex for these plants is $10.33bn by 2030. Major capacity additions will be from China Petrochemical and Shenhua Group.
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In Africa, methanol capacity additions are in Nigeria, with planned and announced capacity additions of about 2.20 mtpa by 2030. Capex for these plants totals $0.98bn in the coming years.
In Oceania, Australia plans to spend US$2.38 billion to add capacity of about 3.50 mtpa, expected onstream by 2030.
In the Caribbean, Trinidad and Tobago plan to spend $0.14bn in the coming years to add capacity of 1.00 mtpa, expected to come onstream by 2030.
NW Innovation Works Inc, IGP Methanol LLC, and China Petrochemical Corp are the top three companies by planned capacity additions globally over the upcoming years.