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Global methanol production capacity to grow steadily over the next 10 years Author/Source: Sinochem News Network Date: 2021-02-01 Clicks: 6 According to recent reports from Arab Trade News Network, global methanol production capacity is expected to increase significantly by 2030, rising from 148.44 million tons in 2019 to 310.94 million tons by 2030, representing an overall increase of 109%. GlobalData, a leading global data and analysis company, states that during the forecast period, Russia, Iran, and the United States will drive the growth in global methanol production, with these three countries accounting for around 59% of the additional global methanol production capacity. According to GlobalData’s latest report titled “Global Methanol Capacity and Capital Expenditure Outlook through 2030,” Russia will see an additional methanol production capacity of 40.35 million tons per year by 2030, accounting for the largest share of the global increase in methanol production capacity. The main increase in production capacity will come from the Maysky methanol plant operated by Sherwood Energy; its designed capacity will reach 7.2 million tons per year. GlobalData said that Iran will see the second-largest increase in methanol production capacity worldwide; by 2030, it is expected to add 29.39 million tons of methanol production capacity per year. The main increase in production capacity will come from Mahan Chemical Zagros Petrochemical’s methanol plant in Eslamabad-e-Gharb, with a designed capacity of 1.85 million tons per year. The United States will become the third-largest producer of methanol in the world, with an additional 23.74 million tons per year of production capacity to be added by 2030. By 2030, the Kalama methanol plant under NW Innovation Factory and the St. Helens methanol plant at NW Innovation Factory will increase their production capacity; the designed capacity for each plant will be 3.6 million tons per year. Dayanand Kharade, an oil and gas analyst at GlobalData, said: “The abundant supply of cheap raw materials from Russia and Iran, along with the advantages of U.S. shale gas, are the main reasons behind this surge in methanol production capacity.” ”