China is expected to be at the forefront of methanol capacity additions in Asia-Pacific by 2030. Indonesia and Malaysia follow next in terms of upcoming methanol capacity additions.
China continues to dominate the global methanol market both in terms of demand and production. This can be attributed to the fact that methanol offers an ideal solution for China’s clean fuel demand and domestic energy development. Additionally, with the advancement in urbanisation and industrialisation in the country, the need for methanol in various sectors such as construction, packaging, and automotive has increased.
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The capacity expansion in Indonesia, however, will be driven by rising demand for methanol from solvent and manufacturing industries. The growth of the methanol industry in Malaysia is closely tied to the production and consumption of various downstream chemicals such as formaldehyde, acetic acid, and MTBE.
Further details of methanol can be found in GlobalData’s new report, ‘Methanol Market Analysis and Forecast by Products, Capacity Additions, Top Countries and Active and Upcoming Projects to 2030’.
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