Methanol, also known as methyl alcohol, is a clear liquid chemical that is water soluble and readily biodegradable. Methanol is also an energy resource used in the marine, automotive, and electricity sectors, and an emerging renewable energy resource. Besides, it is used to produce other chemical derivatives, which can produce thousands of everyday products, including plastics, paints, cosmetics and fuels.
Nowadays, China is the biggest country for methanol production in the world, accounting for 58.34% of the global production, far more than the output from other countries.
In recent years, China's methanol output has maintained a sustained growth. It has reached 47,13 million tons in 2018, increasing by 26 % from 2014.
From the perspective of china's methanol consumption quantity, it also showed a rising path in general, but grew at a much slower rate from 2016 to 2018. In 2018, the methanol consumption quantity was 54.59 million tons, increasing by 33% from 2014.
From the methanol downstream demand, China's methanol is mainly used to produce formaldehyde olefin, formaldehyde fuel, formaldehyde, acetic acid and dimethyl ether. Formaldehyde olefin, formaldehyde fuel and formaldehyde account for a large proportion with the share of 37%, 16% and 15% respectively.