The former Soviet Union (FSU) has the highest capacity additions globally and its methanol capacity is expected to increase from 8.16 mtpa in 2020 to 44.61 mtpa in 2025 at an average annual growth rate (AAGR) of 34%. Within the FSU, Russia, accounts for more than half of the region’s capacity additions, and is expected to lead global methanol capacity additions, according to GlobalData, a data and analytics company.
GlobalData’s report, Global Methanol Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants, reveals that methanol capacity is poised to see considerable growth by 2025, potentially increasing from 158.62 million tonnes per annum (mtpa) in 2020 to 282.52 mtpa in 2025, registering a total growth of 78%.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, comments, “Russia leads the capacity additions in the region with a capacity of 30.20 mtpa by 2025. The majority of the additions will be from an announced project, Oteko Krasnodar Methanol Plant, with the capacity of 5.50 mtpa by 2025.”
GlobalData identifies Iran as the second highest country in terms of capacity additions with a capacity of 26.79 mtpa by 2025. The majority of the capacity additions will be from a planned project, Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb Methanol Plant, contributing 1.85 mtpa each.
Kanaparthi continues, “China will be the third highest country in terms of capacity additions with a capacity of 22.88 mtpa by 2025. The majority of the capacity additions will be from a planned project, Ningxia Baofeng Energy Group Yinchuan Methanol Plant 3, with the capacity of 2.38 mtpa, by 2025. Oteko, Tianjin Bohai Chemical Industry Co Ltd and China Petrochemical Corp will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.”