As methanol-to-olefins projects increase, methanol demand will increase significantly. It is understood that, in addition to the methanol-to-olefins enterprises in cooperation with the domestic methanol production enterprises, the outsourcing of methanol will become an important way for methanol demand.
As of March this year, China has announced five outsourced methanol-to-olefins projects, of which Sinopec Henan Puyang in Henan and Zhejiang Ningbo Qianyuan Chemical Methanol-to-Olefin projects are under construction. Among the plans are: Zhejiang Xingxing New Energy and Jiangsu Shenghong Group's methanol to olefins project, and Liaoning Dalian Fujia Dahua Methanol to Olefins Project, which is doing preliminary work. These projects will add 15 million tons/year of methanol demand.
Zheng Chunlin, an analyst with Asian Chemicals, said that the import of methanol from overseas mainly uses natural gas as raw material, which has the advantage of lower cost. At present, the import volume of 5 million to 6 million tons will not meet the demand. China's methanol imports will have a huge impact on the domestic industrial structure in the future supply of methanol in the Middle East and Asia.
According to customs statistics, China imported more than 530,000 tons of methanol in March, which is almost twice as much as the 280,000 tons imported in February. Iran is the country that exports the largest amount of methanol to China. In March, it exported approximately 270,000 tons to China.
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