Globally, Iran is anticipated to take the lead in methanol capacity additions by 2030. The country has vast natural gas reserves which provide a cost-effective feedstock for methanol production. By leveraging its abundant resources, it is positioning itself as a dominant player in the methanol market, aiming to meet both domestic demands and increase its export capabilities.

13 projects currently under construction in Iran are expected to add a total capacity of 19.62 million tonnes per annum (mtpa) by 2030. The major capacity additions in the country will be from the Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb methanol plant and the Mahtab Parsian Petrochemical Bandar Abbas methanol plant. Both are expected to come online in 2025, each with a capacity of 1.85mtpa.

While Iran leads in capacity additions, Russia is set to follow closely. Like Iran, Russia has considerable natural gas reserves, which give the country a competitive edge in methanol production.

Further details of methanol can be found in GlobalData’s new report, Methanol Capacity and Capital Expenditure Outlook by Region, Countries, Companies, Projects and Forecast to 2030.