(588t) Comparative Economic Analysis of Methanol Production Pathways: Evaluating Feedstock Viability for Cost-Effective Synthesis

Methanol serves as a crucial chemical energy carrier, exhibiting extensive applications in fuel production and functioning as a precursor to essential industrial chemicals, including acetic acid and formaldehyde. Considering its increasing significance in sustainable energy and chemical manufacturing, the optimization of methanol production pathways is essential. The current study undertakes a comprehensive economic evaluation of methanol production utilizing three different feedstocks: (1) carbon dioxide and hydrogen (CO₂/H₂), (2) natural gas, and (3) biomass. A comprehensive evaluation framework was utilized to analyze capital expenditures, energy requirements, methanol yield value, and payback periods, integrating heat recovery to improve process efficiency. The findings demonstrate that the production of methanol from natural gas presents the most favourable economic viability, attributed to reduced capital and operational expenditures. Conversely, the CO₂/H₂ pathway entails considerably elevated expenses attributed to the energy-demanding processes of hydrogen production and carbon capture. Nonetheless, this pathway presents significant environmental benefits by employing CO₂ as a feedstock, thereby aiding decarbonization initiatives within the chemical sector. The economic implications of biomass-derived methanol are characterized by intermediate challenges, as costs are affected by the variability of feedstock and the intricacies of processing methods. This study offers practical insights for stakeholders aiming to reconcile economic viability with sustainability goals in methanol production. The results emphasize that natural gas represents the most economically viable feedstock given the present market circumstances, while also indicating the necessity for technological innovations and policy backing to enhance the competitiveness of CO₂-based pathways.