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IHS: Global methanol demand to rise 80% by 2023, China to drive demand

11:04 AM MDT | August 29, 2014 | Deepti Ramesh

Global methanol demand is expected to increase from 60.7 million m.t. in 2013 to more than 109 million m.t. in 2023, with an average annual growth rate of 6%, according to research from IHS. China is expected to be the major driver of this increase, while the North American methanol market—riding the wave of low-cost US shale-derived feedstocks—is undergoing a renaissance as new projects add significant capacity, IHS says. “The methanol market is in a period of rapid transition, especially the North American market, which is accelerating quickly...

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