CIS: Methanol Market 2024

Methanol Market Size in CIS

The CIS methanol market declined to $X in 2022, reducing by -6.5% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methanol Production in CIS

In value terms, methanol production reduced to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 78% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports in CIS

In 2022, the amount of methanol (methyl alcohol) exported in the CIS amounted to X tons, increasing by 2.9% on the previous year. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.2% against 2019 indices. The pace of growth was the most pronounced in 2019 when exports increased by 23%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, methanol exports declined to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +50.0% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 75%. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Russia (X tons) represented the key exporter of methanol (methyl alcohol), achieving 79% of total exports. It was distantly followed by Azerbaijan (X tons), making up a 20% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to methanol exports from Russia stood at +3.3%. At the same time, Azerbaijan (+43.5%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +43.5% from 2012-2022. From 2012 to 2022, the share of Azerbaijan increased by +20 percentage points.

In value terms, Russia ($X) remains the largest methanol supplier in the CIS, comprising 78% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a 20% share of total exports.

In Russia, methanol exports increased at an average annual rate of +1.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, declining by -14.8% against the previous year. In general, the export price saw a slight contraction. The pace of growth appeared the most rapid in 2021 when the export price increased by 68% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (-0.3%).

Methanol Imports

Imports in CIS

Methanol imports surged to X tons in 2022, increasing by 37% on the previous year's figure. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2018 with an increase of 106%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, methanol imports skyrocketed to $X in 2022. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2017 when imports increased by 90% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belarus was the major importer of methanol (methyl alcohol) in the CIS, with the volume of imports resulting at X tons, which was near 63% of total imports in 2022. It was distantly followed by Kazakhstan (X tons), generating a 35% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Belarus (with a CAGR of +146.1%).

In value terms, Kazakhstan ($X) and Belarus ($X) appeared to be the countries with the highest levels of imports in 2022.

Among the main importing countries, Belarus, with a CAGR of +64.0%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, falling by -14.3% against the previous year. Over the period under review, the import price recorded a deep setback. The growth pace was the most rapid in 2017 when the import price increased by 49% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Belarus stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (-0.7%).

Source: IndexBox Platform

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