The methanol industry spans the entire globe, with production in Asia, North and South America, Europe, Africa and the Middle East. Worldwide, over 90 methanol plants have a combined production capacity of about 110 million metric tons (almost 36.6 billion gallons or 138 billion liters). According to IHS, global methanol demand reached 70 million metric tons in 2015 (23 billion gallons/87 billion liters), driven in large part emerging energy applications for methanol which now account for 40% of methanol consumption. Each day, nearly 200,000 tons of methanol is used as a chemical feedstock or as a transportation fuel (67 million gallons/254 million liters). That’s enough methanol every day to fill nearly 7,500 tanker trucks stretching end-to-end for 63 miles or 100 kilometers.
But the methanol industry is not just those companies large and small throughout the globe that produce methanol every day from a wide array of feedstocks – including natural gas, coal, biomass, waste and even waste CO2 – the industry is also made up of thousands of distributors, technology innovators, downstream manufacturers and service providers. The global methanol industry generates $55 billion in economic activity each year, while creating over 90,000 jobs around the world.
GET TO THE KNOW THE INDUSTRY
The methanol industry’s leading companies have joined to support MI as the most effective way to interact with governments, NGOs and potential new customers throughout the global marketplace. MI collaborates with each of our member companies to create solutions for the global industry, and to ensure that already vibrant markets for methanol and its numerous derivatives continue to thrive.
The Methanol Institute extends its global reach by entering into strategic partnerships with allied trade associations.
Should you require further assistance, please contact one of our industry experts who are available to offer assistance on a consulting fee basis.