HP Impact: Driven by China, global methanol demand rises 23% in two years
According to a new IHS Chemical global market study, global methanol demand increased 23% during the two-year period of 2010 to 2012, primarily driven by Chinese demand.Annual demand for the product i..
According to a new IHS Chemical global market study, global methanol demand increased 23% during the two-year period of 2010 to 2012, primarily driven by Chinese demand.
Annual demand for the product is expected to increase by more than 8%, from 61 MM metric tons in 2012, to an unprecedented level of 137 MM metric tons in 2022. These rapid demand increases are significant, particularly when the numbers are compared to the economic downturn of 2008 to 2009, when annual global methanol demand slowed to just 4% and 2%, respectively.
Methanol is a key option for monetizing gas or coal, said Mike Nash, global director of Syngas Chemicals at IHS. An abundant supply of low-cost
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