GlobalData: Methanol capacity set to reach 184.4 MMtpy by 2020

The company’s latest report states that 49 planned projects are slated to come online in the next five years, primarily in China and Iran, with 17 and 12 projects, respectively. China’s methanol capital expenditure will total an estimated $13.44 B over the next five years, far higher than the next highest spender, the US, at $6.44 B.

China Petroleum & Chemical Corp. and Shenhua Group Corp. Ltd. are among the top companies by capacity addition globally, with 4.1 MMtpy and 3.3 MMtpy, respectively, expected to come onstream over the next five years.

In the Middle East, Iran has 12 planned methanol projects that are due to add capacity of 18.9 MMtpy by 2018. The country’s capital expenditure (CAPEX) for these projects will be $4.30 B over the next five years, putting it high in terms of methanol capacity production and planned projects globally. Kaveh Methanol Co. is the company accounting for most of the capacity addition in Iran.

However, the leading company for global methanol capacity additions by 2020 will be Mozambique-based GigaMethanol B.V, which is projected to add 5.3 MMtpy during the forecast period.

Mozambique is expected to spend $380 MM to add capacity of around 7 MMtpy, with projects expected to come onstream in 2016. 

This outstrips the whole of Europe, where methanol capacity additions are mainly centered in Russia, which has planned capacity additions of 1.1 MMtpy by 2018, with $230 MM in CAPEX over the next five years.