Denmark: Methanol Market 2024

Methanol Market Size in Denmark

After two years of growth, the Danish methanol market decreased by -20% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. Methanol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Methanol Production in Denmark

In value terms, methanol production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 605%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports from Denmark

For the third year in a row, Denmark recorded growth in overseas shipments of methanol (methyl alcohol), which increased by 57% to X tons in 2022. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 766%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, methanol exports surged to $X in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2015 with an increase of 210% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Sweden (X tons) was the main destination for methanol exports from Denmark, with a 80% share of total exports. Moreover, methanol exports to Sweden exceeded the volume sent to the second major destination, Norway (X tons), tenfold. Faroe Islands (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+50.9% per year) and Faroe Islands (+298.2% per year).

In value terms, Sweden ($X) remains the key foreign market for methanol (methyl alcohol) exports from Denmark, comprising 52% of total exports. The second position in the ranking was held by Norway ($X), with a 15% share of total exports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+48.4% per year) and South Korea (+94.1% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, surging by 6.5% against the previous year. In general, the export price posted a measured increase. The growth pace was the most rapid in 2017 an increase of 49%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Faroe Islands ($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 Sweden (+0.6%), while the prices for the other major destinations experienced a decline.

Methanol Imports

Imports into Denmark

In 2022, imports of methanol (methyl alcohol) into Denmark fell remarkably to X tons, with a decrease of -21.1% against 2021. Over the period under review, imports continue to indicate a slight curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 72%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, methanol imports contracted dramatically to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value 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, imports increased by +26.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 78%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Norway (X tons) constituted the largest supplier of methanol to Denmark, accounting for a 52% share of total imports. Moreover, methanol imports from Norway exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Finland (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.1% per year) and Finland (-2.1% per year).

In value terms, Norway ($X), Germany ($X) and Finland ($X) appeared to be the largest methanol suppliers to Denmark, together comprising 74% of total imports. Sweden, the Netherlands, Russia and Italy lagged somewhat behind, together comprising a further 25%.

In terms of the main suppliers, Italy, with a CAGR of +100.0%, saw the highest rates of growth with regard to 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

The average methanol import price stood at $X per ton in 2022, rising by 5.7% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methanol import price increased by +69.9% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 61%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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