- In March 2024, Uzbekistan commenced the construction of a state-of-the-art petrochemical plant aimed at producing over one million tonnes per year (tpy) of plastic. The Gas Chemical Complex MTO (Methanol-to-Olefins) Central Asia Karakul Complex, located near the historic Silk Road city of Bukhara, stands as a prominent symbol of the ongoing "New Uzbekistan" transformation. This project not only underscores Uzbekistan’s commitment to diversifying its industrial base but also positions the country as a key player in the global Methanol-to-Olefins (MTO) market, which is experiencing rapid growth
- In May 2024, the President of Uzbekistan, Shavkat Mirziyoyev, officially launched the Gas Chemical Complex (GCC) based on Methanol-to-Olefins (MTO) technology, situated in the Karakul Free Economic Zone. This advanced facility, utilizing cutting-edge MTO technology, is set to become the cornerstone of Uzbekistan’s gas chemical cluster. The complex will produce 1,100,000 tons of high-quality polymer raw materials annually, including 350,000 tons of polypropylene, 300,000 tons of polyethylene terephthalate, 100,000 tons of ethylene vinyl acetate, 80,000 tons of low-density polyethylene, and 280,000 tons of high-density polyethylene. The launch of this project not only reinforces Uzbekistan's industrial development but also positions the country as a significant contributor to the global Methanol-to-Olefins (MTO) market, which is experiencing increasing demand for olefins in the petrochemical sector
- In July 2024, China’s methanol production facilities saw significant expansions, with several companies increasing their capacity to meet both domestic and global demand. The versatility of methanol as a key chemical feedstock and clean fuel is a major driver behind this growth. This expansion is not only essential to supporting China’s growing industrial needs but also holds considerable relevance to the global Methanol-to-Olefins (MTO) market, where methanol is a crucial raw material
- In October 2024, the inaugural demonstration phase of a green methanol production initiative, with a capacity of 100,000 tons, was officially launched in Alxa. This project, located in Inner Mongolia, represents China’s first venture into large-scale green methanol production, with an ultimate target capacity of 500,000 tons. The process involves synthesizing green methanol by utilizing wind and solar energy for water electrolysis to generate hydrogen, which is then combined with carbon dioxide captured from industrial processes. This innovative initiative not only supports China’s efforts to transition to cleaner energy sources but also has significant implications for the global Methanol-to-Olefins (MTO) market
- In November 2024, Vast Renewables, a company specializing in concentrated solar thermal power (CSP) systems that generate zero-carbon energy, entered into a development services agreement with GGS Energy, an energy transition development company. The collaboration aims to explore methanol production in the Southwestern region of the United States (U.S.). This partnership is particularly relevant to the global Methanol-to-Olefins (MTO) market, as it aligns with the growing trend toward sustainable methanol production
