Belgium: Methanol Market 2024

Methanol Market Size in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian methanol market, when its value decreased by -12.2% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Methanol consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Methanol Production in Belgium

In value terms, methanol production shrank to $X in 2022 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +16.0% against 2020 indices. The growth pace was the most rapid in 2021 when the production volume increased by 32%. As a result, production reached the peak level of $X, and then reduced in the following year.

Methanol Exports

Exports from Belgium

In 2022, after four years of growth, there was significant decline in shipments abroad of methanol (methyl alcohol), when their volume decreased by -8% to X tons. Over the period under review, exports, however, posted a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 59%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, methanol exports amounted to $X in 2022. Overall, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 88% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for methanol exports from Belgium, with a 49% share of total exports. Moreover, methanol exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a 19% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+8.9% per year) and the UK (+28.0% per year).

In value terms, Germany ($X), the Netherlands ($X) and the UK ($X) were the largest markets for methanol exported from Belgium worldwide, together accounting for 89% of total exports.

Among the main countries of destination, the UK, with a CAGR of +28.6%, saw 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

The average methanol export price stood at $X per ton in 2022, increasing by 10% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 40%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and France ($X per ton), while the average price for exports to the UK ($X per ton) and Germany ($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 Spain (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Belgium

In 2022, overseas purchases of methanol (methyl alcohol) decreased by -14.3% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 25% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, methanol imports declined to $X in 2022. Over the period under review, imports, however, posted pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by 80%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Trinidad and Tobago (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of methanol imports to Belgium, with a combined 93% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +93.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Trinidad and Tobago ($X), the Netherlands ($X) and the United States ($X) appeared to be the largest methanol suppliers to Belgium, with a combined 92% share of total imports.

Among the main suppliers, the United States, with a CAGR of +98.3%, recorded the highest growth rate of the value of imports, 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, increasing by 9.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+51.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :