03 Feb Why is China buying so much Methanol
Posted at 15:43h
Methanol is an alternative liquid-fuel source. It is also used in the production of acetic acid, formaldehyde, plastic, adhesives, foams, plywood sub-floors, solvents, and windshield-washer fluid. In March 2013, IHS Chemical found that the demand for methanol was growing faster in China than any other part of the world — the country increased consumption 23% from 2010 to 2012 and is expected to consume half the world’s production of methanol this year, which is about 32 million tons. By contrast, the United States currently consumes about 6.5 million tons. IHS Chemical expects the demand for methanol in China alone to triple by 2022.