Bahrain: Methanol Market 2024

Methanol Market Size in Bahrain

In 2022, the Bahraini methanol market increased by 4.9% to $X, rising for the eighth year in a row after two years of decline. Over the period under review, consumption posted a strong expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Methanol Production in Bahrain

In value terms, methanol production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a deep slump. The growth pace was the most rapid in 2021 when the production volume increased by 15% against the previous year. Methanol production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Methanol Exports

Exports from Bahrain

For the third consecutive year, Bahrain recorded decline in shipments abroad of methanol (methyl alcohol), which decreased by -3.7% to X tons in 2022. Over the period under review, exports recorded a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 19%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, methanol exports totaled $X in 2022. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 58%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main destinations of methanol exports from Bahrain, together comprising 94% of total exports. Indonesia and South Korea lagged somewhat behind, together accounting for a further 6.5%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +59.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Taiwan (Chinese) ($X) and Thailand ($X) appeared to be the largest markets for methanol exported from Bahrain worldwide, with a combined 94% share of total exports. Indonesia and South Korea lagged somewhat behind, together accounting for a further 5.9%.

In terms of the main countries of destination, Indonesia, with a CAGR of +88.4%, recorded the highest growth rate of the value of exports, 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, growing by 9.3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 62% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($X per ton) and South Korea ($X per ton), while the average price for exports to Indonesia ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Bahrain

In 2022, approx. X tons of methanol (methyl alcohol) were imported into Bahrain; dropping by -11.8% against the previous year. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 165% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, methanol imports surged to $X in 2022. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 217% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of methanol to Bahrain, with a 87% share of total imports. Moreover, methanol imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +13.4%.

In value terms, Saudi Arabia ($X) constituted the largest supplier of methanol (methyl alcohol) to Bahrain, comprising 77% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia totaled +18.1%.

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, rising by 32% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, 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 the United Arab Emirates ($X per ton), while the price for Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform