The global
Methanol industry, valued at approximately USD 42.07 Billion in 2024, is projected to grow at a CAGR of 5.53%, reaching around USD 64.73 Billion by 2032. The methanol market is undergoing a transformative phase, driven by technological innovations and evolving market dynamics. Significant growth is seen in the maritime sector, where methanol is emerging as a sustainable marine fuel, with major shipping companies adopting methanol-powered vessels. Investments in renewable methanol projects and sustainable production technologies are accelerating, with over eight million metric tons of renewable methanol projected by 2027. The construction sector and petrochemical industries, especially in China and the U.S., are key demand drivers. Additionally, methanol's application in transportation fuels and the methanol-to-olefins (MTO) process underscores its versatility and growing importance in sustainable industrial practices.
Methanex Corporation
Methanex Corporation is a global leader in the distribution, supply, and marketing of methanol and petrochemical products. Its methanol is utilized in a wide range of consumer and industrial products, including paints, windshield washer fluids, silicone sealants, plywood, and synthetic fibers. Methanex's operations are supported by a robust global network of storage facilities, terminals, and the world’s largest dedicated fleet of methanol tankers. The company operates production facilities in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States.
LyondellBasell Industries Holdings B.V.
LyondellBasell Industries is a leading producer and marketer of polypropylene and advanced polyolefin products. The company also manufactures ethylene, propylene, polyolefins, and oxyfuels, serving global markets across six segments: Intermediates and Derivatives (I&D), Olefins and Polyolefins-Americas (O&P-Americas), Refining and Technology, Advanced Polymer Solutions (APS), and Olefins and Polyolefins-Europe, Asia, International (O&P-EAI). Additionally, it is the world’s largest licensor of polyolefin technologies and operates across numerous countries.
Methanol Holdings (Trinidad) Ltd.
Methanol Holdings (Trinidad) Ltd., a subsidiary of Proman Company under Consolidated Energy Limited, is a major producer, distributor, and supplier of methanol, fertilizers, and natural gas-derived products. It is a key methanol supplier to North America and Europe, operating five methanol plants and a Urea Ammonium Nitrate (UAN), ammonia, and melamine (AUM) complex comprising seven additional plants. The company also expanded its capacity with the M5000 mega plant, one of the largest standalone methanol facilities globally, capable of producing 5,000 metric tons daily.
Recent Developments
January 2024
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Enerkem Alberta Biofuels (EAB) Plant Retirement: Enerkem announced the retirement of its EAB plant in Edmonton. The facility successfully achieved its goal of commercializing Enerkem’s advanced technology, operating for over 15,000 hours to produce ethanol and methanol at a commercial scale.
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Fairway Methanol Joint Venture Launch: A 50-50 partnership between Mitsui & Co. and Celanese Corporation, Fairway Methanol began methanol production utilizing carbon dioxide emissions from neighboring industrial plants, showcasing innovative carbon capture and utilization.
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BASF SE and Envision Energy Collaboration: BASF SE and Envision Energy announced a partnership to develop technology for converting green hydrogen and CO2 into sustainable methanol. Envision Energy will implement BASF's catalyst technology and license the process to its customers, facilitating the development of large-scale sustainable methanol and e-methanol plants.
