Market News
Key Development
The major players dominate the production and supply of methanol across the globe. The leading players are striving to improve and hold major share of the global methanol market. Various production and supply chain strategies are adopted by companies to improve market positioning.
- For instance, in April 2019, Celanese Corporation, one of the leading chemical producer, expands its methanol capacity at its manufacturing facility in Texas.
- In January 2019, Saudi Basic Industries Corporation (SABIC), manufacturer of chemicals and petrochemicals, signed an agreement with South Louisiana Methanol to develop methanol facility in the U.S. Through this agreement, the SABIC will reach new global markets and enable the company to access competitive feedstock.
- In October 2019, Sabic and The Russian Direct Investment Fund, Russia’s sovereign wealth fund, to invest in ESN Group’s methanol plant development in Russia's Far East
- In August 2018, Koch Methanol, a subsidiary of Koch Industries, buy into US$ 1.85 billion methanol production facility in the U.S. from YCI Inc. (Chinese Yuhuang Chemical Industries Inc.). The facility produced approximately 1.7 million metric tons of methanol per year.
- In June 2015, OCI N.V., producer of chemical and natural gas-based fertilizers in the Netherlands, acquired BioMCN, producer of methanol, for US$ 16.63 million. Through this acquisition, OCI strengthen its position in the European methanol market.
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