Methanol is the basis for many chemicals and can be derived from various feed stocks. Demand for methanol in Asia has been increasing due to increased consumption from major developing countries for traditional chemical derivatives and energy applications. Major Asia exporting countries are India and Singapore besides India and Thailand are the importing countries.
Asia methanol market has been segmented into by application and by country. In general, methanol is produced majorly from natural gas followed by coal. It is also produced from other sources such as biomass, municipal waste and carbon di-oxide. Methanol has major applications in formaldehyde, acetic acid, gasoline and Methanol-to-Olefins (MTO). Among these applications formaldehyde is the major application. Methanol derived products are used in end industries such as automotive, pharmaceuticals, construction, coatings and others.
Asia methanol market is further segmented into by country that includes individual country analysis of China, India, Japan, South Korea, Taiwan and others. The report focuses on key countries within Asia in terms of changing trends in using methanol for various applications. China holds major share with a significant growth rate.
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The report also includes overview of major companies such as
- Petroliam Nasional Berhad,
- Methanex Corporation,
- China National Offshore Oil Corporation
- Sinopec Group.
The Asia methanol market in 2014 was $20.7 billion, dominated by China accounting for 81% market share in terms of revenue. China is the most encouraging market for methanol market owing to the increasing demand from end applications. China, among all the countries is the promising market with rising demand from Methanol-to-Olefins (MTO) and acetic acid applications.
In 2014, China is the largest methanol producer in Asia with more than 450 Methanol plants with more than 57.1 million metric tons capacity. China majorly exports its methanol to Indonesia, South Korea, Malaysia and Thailand. The country imports most of the methanol from the Iran, Saudi Arabia and Oman due to availability of methanol at low cost.
Methanol is used as alternative fuel due to its low cost and easy to manufacture. Though China has many methanol plants, the methanol production in domestic market is unable to meet the market and is depending on the imports. High demand for gasoline blends, formaldehyde and MTO is driving the demand for methanol in China.
Japan Has No Domestic Production Because Of Less Reasonable Feedstock In Terms Of Price
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Japan imports methanol mainly from Saudi Arabia and New Zealand among which more than half of the demand is met from the Saudi Arabia. Major applications for methanol in South Korea are formaldehyde, acetic acid and MTBE. Increased storage operations by Methanex had increased the imports of methanol in South Korea. In Taiwan, methanol derivative manufacturers directly deal with the methanol importer instead of third party concern. Chang Chun and Lee Chang Yung Chemical Industry Corporation (LCYCIC) are the major producers of formaldehyde in Taiwan with downstream applications such as UF resin, paraformaldehyde and others. Acetic acid and formaldehyde applications had the major share in 2014 for Taiwan methanol market.
In this report, methanol import and exports of individual country has been studied and is analyzed along with the individual domestic price. Production and supply gap is studied for major countries such as China, India and others. Methanol production facilities with its annual capacities are also listed in the report.
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