Market News

Renewable Methanol Market: Recent Developments

In January 2023, Sweden launched Project Air, an industrial initiative to transform the chemical industry toward climate neutrality, with far-reaching effects throughout industrial value chains. The project is in a collaboration between Perstorp Group and Uniper. Using circular production processes, this collaboration with CINEA project air will create sustainable methanol for chemical industry.

On February 27, 2022, British Columbia and on February 28, 2023, TOKYO, Japan - Methanex Corporation (Methanex) which is a Canadian company that supplies, distributes and markets methanol globally and Mitsui O.S.K. Lines, Ltd. (MOL) a Japanese transport company launched a dual-fuel vessel. "Cajun Sun" successfully completed the first-ever net-zero voyage fuelled by bio-methanol. The voyage is an example of how Methanex and Mitsui O.S.K. Lines, Ltd. are collaborating to demonstrate the viability of methanol as a marine fuel with a pathway to net-zero emissions.
In October 2022, the world’s first commercial scale CO2-to-methanol plant started production in Anyang, Henan Province, China. The cutting-edge facility is the first of its kind in the world to produce methanol, a valuable fuel and chemical feedstock at this scale from captured waste carbon dioxide and hydrogen gases. The plant's production process is based on Emissions-to-Liquids (ETL) technology developed by Carbon Recycling International (CRI).
On September 28, 2021, a China-based petrochemicals corporation, Jiangsu Sailboat Petrochemicals Co. Ltd. has signed an agreement with Iceland-based technology company, Carbon Recycling International, for a 100,000 tons per year CO2 to methanol plant.

Renewable Methanol Market Report Snapshots