Expansions Worsening the Methanol Oversupply Situation, Says Prismane Consulting
MUMBAI, MAHARASHTRA -- (SBWire) -- 08/13/2020 --Prismane Consulting is pleased to publish its Methanol Market Study Report and Techno-Commercial Market Model. This report covers recent market updates along with the impact of COVID 19 and the fluctuations in the crude oil prices. All the existing capacities, plant-wise operating rates and production has been included as a part of the study.
Methanol, also known as methyl alcohol, is a colourless, volatile, flammable liquid with odour similar to ethanol. Methanol is a vital precursor to a number of organic chemicals such as dimethyl ether, formaldehyde, acetic acid, biodiesel and dimethyl tertiary butyl ether. It is also used as a gasoline additive, energy carrier, fuel for vehicles, solvents and a number of other niche applications. At a global level, majority of methanol is produced from natural gas or coal. The methanol market is impacted by several factors such as environmental policies, fuel consumption, biofuel mandates and plastic consumption.
The methanol industry has witnessed a number of capacity additions and further capacity additions are expected in the mid-term forecast. In April 2019, Celanese announced to expand the production of methanol at its Clear Lake site in Texas, US. The expansion is expected to increase the sites capacity from 1,300 kilo tons to 1,700 kilo tonsby 2023. Furthermore, over 4,000 kilo tons of new capacities are expected to come online in the short-term. The new capacity expansions are expected to be in North America, Middle East and Asia.
Currently, China is the world's largest methanol manufacturer and consumer, followed by Europe & North America. The global methanol demand is led by Asia-Pacific, owing to the strong demand from key end-use applications and upsurge in use of methanol-based fuel. Over 60% of the global methanol is produced in Asia-Pacific. China accounts for the major share followed by India, Taiwan, South Korea and Japan. In 2019, USA was the largest importer and exporter of Methanol. Moreover, the methanol industry is in a state of oversupply, which was further aggravated by the global Covid-19 pandemic. In April 2020, Methanex idled its 800 kilo tons Chile IV methanol plant and 850 kilo tons Titan plant in Trinidad both for an indefinite period.
The Methanol Strategy Report 2020 describes the Methanol market, with focus on the country, and application scenarios. The study provides:
Market Data, Country Summaries & Product Review
- Demand-Supply Balance & Market Analysis
- Methanol Market data in terms of volume and value for each end-use at regional and country level
- Methanol Production Capacity, Apparent Production, Regional and country level demand-supply
- Demand Composition, by Feedstock and Derivative
- Trade (Import, Export and Net Export)
- Pricing Analysis
- Latest Trends and market developments
- Key Players
- Process technology
- Strategic Issues and Recommendations
- Market / Product Outlook (Historical, Short, Mid and Long-term forecast)
- Business Opportunities & Challenges
- Strategic Analysis and High-level information on Market Entry, Best Strategies adopted
For more information about this report Click Here
About Prismane Consulting
Prismane Consulting is a unique consulting and market research firm providing management, economic and technical expertise across the global Chemicals, Petrochemicals, Polymers, Materials and Energy value chain. The company has been advising clients on their key strategic issues solving their toughest and most critical business problems. We have helped some of the fortune 500 companies develop their strategic plans by tracking and interpreting market dynamics.
Prismane consulting has completed a number of multi-client studies and projects. It offers Market Studies, World Analysis and Strategy Reports related to Refining, Chemicals, Petrochemicals, Plastic & Polymers and Materials. For update on the annual subscription (monthly, quarterly and annually) on the chemicals industry, please write to firstname.lastname@example.org
Mr. Rakesh Panigrahi
Chemicals & Energy, Prismane Consulting
Tel: +91-20-67277711/12, +33 6 64397294
Media Relations Contact
+91 020 6727 7711
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