Methanol
Overview
The global methanol industry has suffered in recent years. First COVID-19, then the Russia-Ukraine conflict, followed by global inflation, stagnation and downward revised GDP forecasts. It is hoped 2022/2023 will be the performance valley for the sector, looking toward an improved—but still slowed—outlook. The huge China methanol appetite has slowed. The MTO sector sees minimal growth ahead. The rest of the world will have to generate increased demand, but with much of this sector tied to GDP performance, the outlook here too is reserved. New capacity continues to define the landscape, with several new units expected in the coming months.
Pricing is spiking in Q4’23 due to a myriad of methanol production outages around the world. Production will return and prices weaken some. However, the outlook is for the olefins and olefin derivative sectors to finally end their respective down cycles. Olefin/derivative prices are expected to improve, driving higher MTO methanol affordability values. The rest of the methanol industry is expected to follow China’s MTO methanol price strength.
Argus’ experts will help you determine what trends to track and how to stay competitive in today’s ever-changing global markets.
Latest methanol news
Singapore opens methanol bunkering licence applications
Singapore opens methanol bunkering licence applications
Singapore, 26 March (Argus) — Singapore's Maritime and Port Authority (MPA) today issued a notice seeking applications for methanol bunkering licences. Successful applicants would be able to supply methanol as a marine fuel in the port of Singapore between 1 January 2026 to 31 December 2030. The agreement includes end-to-end bunkering, which means supplying the fuel, barge operations, storage and safe bunkering onto vessels. Licensees would need to have trained manpower for safe handling of the fuel and have at least one IMO Type II barge. The licensees also need to ensure that the methanol they supply "meet the specified carbon intensity on a well-to-wake basis, demonstrate a transparent and accurate chain of custody methodology to track emissions from source to delivery." This implies the methanol supply needs to have reduced carbon emissions, and be produced via carbon capture (CC) technology or from biomass and renewable sources of energy. Methanol participants do not expect this announcement to significantly impact the current regional methanol market in the short term, as they expect initial volumes to be limited. Some methanol traders had hoped that the government would provide financial incentives for the uptake as a marine fuel. "The industry concern is….no financial support from the Singapore government," said a methanol trader. This announcement comes after MPA announced a new methanol bunkering standard earlier this month. Methanol is one of the early alternative marine fuels, with newbuild order books going past 300 as major container liners and other segments booked dual-fuelled methanol vessels, according to Norwegian classification society DNV's Alternative Fuels Insight . Maersk, among other vessel owners, has been leading the use of methanol as a marine fuel in its fleet. But limited supply of green methanol has slowed the process of its adoption in the past year or so, said market participants. By Mahua Mitra Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India amends, finalises e-PVC anti-dumping duties
India amends, finalises e-PVC anti-dumping duties
Singapore, 24 March (Argus) — India's Ministry of Finance (MCI) has finalised anti-dumping duties (ADDs) on imports of paste polyvinyl chloride (e-PVC) from China, South Korea, Malaysia, Norway, Taiwan and Thailand. ADDs on the listed e-PVC export origins will be imposed for a period of five years from 13 June 2024, backdated to the imposition date of initial ADDs . These will be levied for e-PVC imports between 12 December 2024 and 20 March 2025, according to MCI in the Gazette of India on 21 March. As per the initial anti-dumping investigation, finalised ADDs will be excluded for PVC resin with a K-value below 60, PVC blending resins, co-polymers of PVC paste resin, battery separator resins and the brand "Biovyn" produced by European PVC producer Inovyn. Most e-PVC producers that were named under the initial anti-dumping investigation face higher finalised ADDs than their original value, except for South Korea's Hanwha Solutions, where ADDs remained at $0/t, and Malaysia's Kaneka Paste, for which ADDs dropped from $317/t to $0/t. In conjunction with this investigation, Indian authorities are also currently conducting an anti-dumping investigation on e-PVC imports from the EU and Japan . Argus last assessed e-PVC homopolymer import prices into India at $920-950/t cfr India on 21 March. By Michael Vitiello E-PVC anti-dumping duties (India) $/t Country of export Country of export Producer Initial duty Final duty China Any Formosa Industries (Ningbo) 546 595 China Any Shenyang Chemical 115 248 China Any Other Chinese producers except above 600 707 Any China Any 600 707 South Korea Any Hanwha Solutions 0 0 South Korea Any Other South Korean producers except above 41 89 Any South Korea Any 41 89 Malaysia Any Kaneka Paste 317 0 Malaysia Any Other Malaysian producers except above 375 516 Any Malaysia Any 375 516 Taiwan Any Formosa Plastics 118 247 Taiwan Any Other Taiwanese producers except above 168 373 Any Taiwan Any 168 373 Thailand Any TPC Paste Resin 195 343 Thailand Any Other Thai producers except above 252 421 Any Thailand Any 252 421 Norway Any Any 328 495 Any Norway Any 328 495 Source: India's Ministry of Finance Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Japan’s MGC, JFE to recycle CO2 to produce methanol
Japan’s MGC, JFE to recycle CO2 to produce methanol
Tokyo, 24 March (Argus) — Japanese methanol supplier Mitsubishi Gas Chemical (MGC) and steel maker JFE Steel have agreed to conduct a pilot project to produce methanol by recycling CO2, including gas derived from JFE's steel production. The project is expected to begin in the 2026 fiscal year, the companies announced on 24 March. MGC has started building a 100 t/yr methanol plant for this project in the Mizushima industrial complex, west Japan. The companies will make methanol using CO2, including gas that comes from JFE's steel production. Petrochemical company Mitsubishi Chemical will then use the methanol to produce propylene, which is a feedstock for plastics production. The new plant will be a mobile facility, as MGC is considering conducting similar methanol production trials in different places in the future. Separately, MGC is also considering launching a green methanol plant after the 2030 fiscal year, which can supply around 1mn t/yr of methanol, the same capacity as a conventional plant. The company expects an increase in global demand for methanol, especially as an alternative fuel for vessels. MGC has over 7.5mn t/yr of global methanol production capacity. The group seeks to reduce CO2 emissions by 39pc in the 2030 fiscal year compared with the 2013 fiscal year levels, and to achieve net zero emissions by the fiscal year 2050. By Kohei Yamamoto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Phillips 66 weighs Louisiana refinery expansion
Phillips 66 weighs Louisiana refinery expansion
Houston, 20 March (Argus) — US independent refiner Phillips 66 is seeking state tax incentives for a possible expansion of its 264,000 b/d refinery in Lake Charles, Louisiana. The expansion would increase production capacity and improve operational efficiency through upgrades and new specialized equipment, according to a summary of the project posted by the Louisiana Department of Economic Development. The agency, which administers state incentives, said that the Phillips 66 project is in review. Phillips 66 said today that it does not typically comment on refinery operations, regulatory filings or commercial activities. According to the Louisiana Department of Economic Development posting, the $99mn upgrade would include adding a 5MW steam turbine power generator, a boiler feedwater chemical system, LCR kerosene product rundown system upgrades, a reactor, a naptha fractionator, and other pieces of equipment. The budget includes $40mn for machinery and $59mn for labor and engineering. The project is estimated to be completed at the end of 2027. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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Chemical Conversations: Methanol Market Puts-and-Takes
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