Global methanol capacity is poised to see a considerable growth over the next five years, potentially increasing from 171.84 million tonnes per annum (mtpa) in 2022 to 302.06mtpa in 2027, registering a total growth of 75.8%. Asia and the Middle East are the key regions in terms of methanol capacity additions over the upcoming years.
Asia is expected to add a capacity of 33.01mtpa from 26 new build planned and announced projects. Reliance Industries Jamnagar Methanol Plant, an announced project in India, leads with a capacity of 3.60mtpa and is expected to come online in 2026.
The Middle East closely follows with a capacity of 32.75mtpa from 27 new-build projects. For the expansion of the existing methanol project, the region is expected to add a capacity of 0.10mtpa from a planned project. Major capacity additions will be from two planned projects, Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb Methanol Plant and Mahtab Parsian Petrochemical Bandar Abbas Methanol Plant, each with a capacity of 1.85mtpa, and are expected to come online in 2024.
Methanol industry, global, planned and announced capacity additions by key regions (mtpa), 2027
North America follows next with a capacity of 15.20mtpa from 15 new-build projects. For the expansion of the existing Methanol project, the region is expected to add a capacity of 0.40mtpa from a planned project.
Further details can be found in GlobalData’s new report, Methanol Industry Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries Including Details of All Active Plants, Planned and Announced Projects, 2023-2027.