Finland: Methanol Market 2024

Methanol Market Size in Finland

The Finnish methanol market contracted sharply to $X in 2022, reducing by -27.5% against the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Methanol Production in Finland

In value terms, methanol production reduced markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a sharp slump. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Methanol Exports

Exports from Finland

For the third year in a row, Finland recorded decline in shipments abroad of methanol (methyl alcohol), which decreased by -11.5% to X tons in 2022. Over the period under review, exports showed a abrupt decrease. The growth pace was the most rapid in 2017 when exports increased by 17% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, methanol exports amounted to $X in 2022. Overall, exports showed a abrupt slump. The pace of growth was the most pronounced in 2017 when exports increased by 71% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for methanol exports from Finland, accounting for a 64% share of total exports. Moreover, methanol exports to Poland exceeded the volume sent to the second major destination, Sweden (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland amounted to +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-6.4% per year) and the Netherlands (-18.9% per year).

In value terms, Poland ($X) remains the key foreign market for methanol (methyl alcohol) exports from Finland, comprising 53% of total exports. The second position in the ranking was taken by Sweden ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-5.1% per year) and the Netherlands (-18.1% per year).

Export Prices by Country

The average methanol export price stood at $X per ton in 2022, picking up by 18% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price 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, methanol export price increased by +98.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 67% against the previous year. Over the period under review, the average export prices reached the maximum 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Poland ($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 (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Methanol Imports

Imports into Finland

In 2022, the amount of methanol (methyl alcohol) imported into Finland declined dramatically to X tons, waning by -25% against the previous year. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 10%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, methanol imports amounted to $X in 2022. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by 62%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest methanol supplier to Finland, accounting for a 82% share of total imports. Moreover, methanol imports from Russia exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold. The third position in this ranking was taken by Trinidad and Tobago (X tons), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+2,113.7% per year) and Trinidad and Tobago (+1,053.3% per year).

In value terms, Russia ($X) constituted the largest supplier of methanol (methyl alcohol) to Finland, comprising 82% of total imports. The second position in the ranking was held by Poland ($X), with a 7% share of total imports. It was followed by Trinidad and Tobago, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+2,550.9% per year) and Trinidad and Tobago (+762.5% per year).

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, increasing by 38% against the previous year. In general, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of 84%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Norway ($X per ton) and Russia ($X per ton), while the price for Trinidad and Tobago ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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