Iran is set to register the highest methanol capacity additions in the Middle East, contributing about 94% of the region’s capacity additions by 2027, says GlobalData, a data and analytics company.
GlobalData’s latest report, “Methanol Industry Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries Including Details of All Active Plants, Planned and Announced Projects, 2023-2027,” reveals that Iran leads with the largest methanol capacity additions in the Middle East region, with a capacity of 30.95 million tonnes per annum (mtpa) from 26 planned and announced projects. Increased use of methanol as a feedstock for chemical and transportation fuels is expected to lead to an increase in demand for methanol in Iran.
Nivedita Roy, Oil and Gas Analyst at GlobalData, Comments: “In Iran, the main capacity addition would be from two planned projects, ‘Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb Methanol Plant’ and ‘Mahtab Parsian Petrochemical Bandar Abbas Methanol Plant’, each with a capacity of 1.85mtpa. Both the projects are expected to commence production of methanol in 2024.”
In Iran, The National Petrochemical Co leads in terms of methanol capacity addition. The company is expected to add a capacity of 4.63mtpa from seven planned and announced projects through 2027.