Global methanol capacity is poised to see considerable growth by 2030, potentially increasing from 148.44 million tonnes per annum (mtpa) in 2019 to 310.94 mtpa in 2030, registering a total growth of 109%.
Russia and the US are expected to drive capacity additions during the forecast period. Together these countries will contribute around 59% of the total global methanol capacity additions, says GlobalData, a leading data and analytics company.
GlobalData’s report,‘Global Methanol Capacity and Capital Expenditure Outlook to 2030’reveals that Russia accounts for the highest capacity additions with 40.35 mtpa by 2030. Major capacity additions will be from the Sherwood Energy Maysky Methanol Plant with a capacity of 7.20 mtpa by 2030.
The US will be the third highest country in terms of capacity additions, with capacity of 23.74 mtpa by 2030. Major capacity additions will be from the NW Innovation Works Kalama Methanol Plant and NW Innovation Works St. Helens Methanol Plant, each with the capacity of 3.60 mtpa by 2030.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says:“The abundant availability of low-cost feedstock in Russia and the shale gas advantage in the US are the primary reason for the rush in methanol capacity additions in these countries.”
