In 2012, the world methanol capacity utilization rate was just over 70%. The global methanol supply registered stable positive growth from 2010 to 2012. In 2012, it stood at more than 62.9 million tonnes. China was an unrivalled methanol manufacturer in 2012, but the country used its production capacities only at approximately 60% of their total potential. Currently, the major methanol producers are based in the developing regions, like the Middle East and Asia-Pacific. Asia-Pacific accounted for over half of the global methanol supply volume in 2012. Meantime, at the beginning of the 21st century, many of the US methanol production plants were closed down. However, by 2012, the North American methanol market revived due to the presence of rich shale gas reserves.
Global methanol production by country, 2012
Methanex, Trinidad (Atlas Methanol Co Unlimited), Saudi Methanol Co, Methanol Holdings Trinidad, Zagros Petrochemical, Petronas, Shenhua Group Corporation Limited, Datang International Power Generation, Salalah Methanol Co, Oman Methanol Co LLC and Fanavaran Petrochemical Co are among the companies calling for substantial shares of the global methanol market.
In 2013, the world annual production capacity of methanol went beyond 101.7 million tones, with Asia-Pacific capturing almost 58% share.
Methanol capacity broken down by region, 2013
In the past several years, the expansion of methanol end-use applications encouraged the creation of favourable factors contributing to improvements in demand. During 2010-2012, the world methanol consumption followed an upward trend, and in 2012, it almost reached 63 million tones, with Asia-Pacific calling for around 63% of the overall consumption volume.
In 2012, the global methanol foreign trade value was estimated at more than USD 9.97 billion. In the same year, Europe was the dominant methanol exporter, whilst Asia-Pacific imported the largest product volume.
The worldwide methanol market is anticipated to see robust growth in the years to come; in 2016, it is predicted to exceed 107.7 million tonnes. However, the methanol markets will likely face oversupply, and as a result, the existing facilities are poised to undergo restructuring. China is set to maintain its leadership in the world methanol market.
More information on the methanol market can be found in the study “Methanol: 2014 World Market Outlook and Forecast up to 2018”.