China May Face Methanol Glut by 2009

China’s petrochemical industry may face a surplus of methanol by 2009, as the number of producers more than triple and their production capacity surge 12-fold from 2005, the Securities Times reported.

China will have 88 methanol producers with the capacity to churn out 48.5 million tons of the material a year by 2009, compared with 28 companies producing 4 million tons in 2005, the paper said, citing Li Hongjun, deputy director of the China Nitrogen Fertilizer Industry Association.

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