A recent survey shows that in the entire Middle East and African markets, as the major methanol-exporting countries, Saudi Arabia has the share of the production of methanol that is high as to 85%. At the same time, Saudi Arabia is also the region’s largest methanol consumer. In the next 10 years, the country’s methanol production will have further increase and the export volume will continue to increase.
From 2006 to 2011, the Saudi’s macro-economy had a good performance, and its oil reserves was lucrative and abundant. In order to diversify the economy, the government provided adequate and cheap raw materials to many manufacturers, which provided a good basis for the development of the methanol (CH4O and CAS number is 67-56-1)industry.
In 2010, Saudi Arabia had slightly adjusted the raw material structure of the methanol, improved the production capacity of coal-based methanol, lowered the production capacity of natural gas based methanol, and achieved the rapid growth of the coke oven gas methanol capacity. About 40% of methanol had also been transformed into formaldehyde (the CAS number is 50-00-0), which was used in the production of a variety of products such as plastic, plywood, paints, explosives, and permanent press textiles.