Azerbaijan: Methanol Market 2024

Methanol Market Size in Azerbaijan

In 2022, the Azerbaijani methanol market decreased by -43.7% to $X, falling for the second consecutive year after four years of growth. In general, consumption continues to indicate a mild reduction. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Methanol Production in Azerbaijan

In value terms, methanol production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 77%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports from Azerbaijan

Methanol exports from Azerbaijan skyrocketed to X tons in 2022, picking up by 27% against the year before. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 511% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, methanol exports surged to $X in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 460%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons), Turkey (X tons) and Romania (X tons) were the main destinations of methanol exports from Azerbaijan, together accounting for 78% of total exports.

From 2014 to 2022, the biggest increases were recorded for Romania (with a CAGR of +43.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for methanol exported from Azerbaijan were the Netherlands ($X), Turkey ($X) and Romania ($X), together accounting for 79% of total exports.

Romania, with a CAGR of +45.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, with an increase of 15% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 57%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and Turkey ($X per ton), while the average price for exports to Slovenia ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Azerbaijan

Methanol imports into Azerbaijan declined to X tons in 2022, with a decrease of -6.9% against the year before. In general, imports faced a significant curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 497% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, methanol imports soared to $X in 2022. Over the period under review, imports continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 132%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and France (X kg) were the main suppliers of methanol imports to Azerbaijan.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +62.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of methanol (methyl alcohol) to Azerbaijan, comprising 89% of total imports. The second position in the ranking was held by Turkey ($X), with a 6.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +51.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-51.6% per year) and France (+3.0% per year).

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, with an increase of 85% against the previous year. In general, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 an increase of 707% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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