Algeria: Methanol Market 2024

Methanol Market Size in Algeria

The Algerian methanol market declined to $X in 2022, waning by -6% against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Methanol Production in Algeria

In value terms, methanol production contracted to $X in 2022 estimated in export price. In general, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.0% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 58%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Methanol Exports

Exports from Algeria

Methanol exports from Algeria shrank to X tons in 2022, waning by -4.8% against the previous year's figure. Overall, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +107.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 99% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, methanol exports shrank notably to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 95%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for methanol exports from Algeria, with a 61% share of total exports. Moreover, methanol exports to India exceeded the volume sent to the second major destination, Greece (X tons), threefold. The third position in this ranking was held by Portugal (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+12.8% per year) and Portugal (+4.7% per year).

In value terms, India ($X) remains the key foreign market for methanol (methyl alcohol) exports from Algeria, comprising 75% of total exports. The second position in the ranking was taken by Greece ($X), with a 6.8% share of total exports. It was followed by Italy, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-1.4% per year) and Italy (-19.1% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, with a decrease of -20.6% against the previous year. Overall, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2021 an increase of 76% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Algeria

In 2022, the amount of methanol (methyl alcohol) imported into Algeria shrank rapidly to X tons, which is down by -17.4% against the previous year. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 477%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, methanol imports declined remarkably to $X in 2022. Overall, imports recorded a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 314%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest methanol supplier to Algeria, accounting for a 53% share of total imports. Moreover, methanol imports from South Korea exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. France (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea totaled +95.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.4% per year) and France (+21.1% per year).

In value terms, South Korea ($X), Canada ($X) and France ($X) appeared to be the largest methanol suppliers to Algeria, together comprising 82% of total imports.

South Korea, with a CAGR of +46.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, waning by -14% against the previous year. Over the period under review, the import price showed a mild slump. The growth pace was the most rapid in 2018 when the average import price increased by 39%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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