Methanol: The Clean Fuel Shaking Up Ships and Factories

Methanol is becoming a big deal. By 2031, it could be worth $43 billion. That's a big jump from $34. 16 billion in 2025. Why? Because ships and factories are starting to use it more. Ships love it because it's cleaner and easier to handle than other fuels. In 2024, 166 new ships were ordered to run on methanol. That's a lot! Factories are also using more methanol. They turn it into stuff like plastics for cars and buildings. In 2024, demand for methanol went up by 3 million tons. A new factory in China is even making 300, 000 tons of it every year.But it's not all smooth sailing. The price of methanol keeps changing. It depends on the price of natural gas and coal, which are used to make it. This makes it hard for companies to plan and invest. Still, the market is growing, just not as fast as it could. There's a push to make methanol greener. Some companies are making it from plants and renewable energy. China even has a new plant making green methanol. Ports are also getting ready. They're setting up places for ships to refuel with methanol. Big companies like Methanex, Shell, and BP are leading the way. They're investing in making and using methanol. The market is split into different types, like natural gas methanol and bio-methanol. It's used in many industries, from cars to electronics.