Decarbonizing Maritime Transport
Limited new supply additions to support improving prices
Urea capacity additions slow relative to 2015-19
Global urea capacity additions ex-China, Mt
24
Merchant ammonia market expected to significantly tighten
Global ammonia capacity additions ex-China ex-urea, Mt
4
Capacity additions over the next five years
expected to be less than half of the five
year average and subject to delays
3
2
High cost marginal producers in
Trinidad permanently shut capacity
Capacity additions
Demand Growth
11
14
16
2015-2019
2020-2024
Demand
Others
USA
Russia
Iran
Nigeria
India
Trend demand growth of >2% per annum expected to more than offset capacity
additions '21-25
5-6 years to build new plant from concept to commissioning
OCI
Source: OCI Analysis, CRU, Argus
1
(1)
The commissioning of standalone
urea plants would reduce net
merchant ammonia capacity
(2)
2016
2017
2018
2019
2020
2021
2022
2023
2024
Methanol Global Supply and Demand Balance, 2015-2024F
Methanol capacity vs demand growth, Mt
â– Capacity
24.2
19.1
New capacity additions of 6%
needed to meet expected demand
growth of 12% from 2021-24
6.4
4.6
2015-2019
2020
Demand
13.4
10.5
2021-2024
21
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