Guatemala: Methanol Market 2024

Methanol Market Size in Guatemala

The Guatemalan methanol market skyrocketed to $X in 2022, rising by 43% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +93.4% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Methanol Exports

Exports from Guatemala

In 2022, shipments abroad of methanol (methyl alcohol) increased by 3.6% to X tons, rising for the second year in a row after two years of decline. Overall, total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +7.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 111% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, methanol exports surged to $X in 2022. Over the period under review, exports posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 107% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

El Salvador (X tons) was the main destination for methanol exports from Guatemala, with a 75% share of total exports. Moreover, methanol exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X tons), sixfold. Costa Rica (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador totaled +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+9.5% per year) and Costa Rica (+4.4% per year).

In value terms, El Salvador ($X) remains the key foreign market for methanol (methyl alcohol) exports from Guatemala, comprising 73% of total exports. The second position in the ranking was taken by Honduras ($X), with a 10% share of total exports. It was followed by Costa Rica, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+11.1% per year) and Costa Rica (+6.6% per year).

Export Prices by Country

The average methanol export price stood at $X per ton in 2022, picking up by 13% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 +25.2% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 26% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Nicaragua ($X per ton) and El Salvador ($X per ton), while the average price for exports to Honduras ($X per ton) and Costa Rica ($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 the United States (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Guatemala

In 2022, approx. X tons of methanol (methyl alcohol) were imported into Guatemala; jumping by 31% against the year before. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +46.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 38%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, methanol imports soared to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +108.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 51%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest methanol supplier to Guatemala, accounting for a 81% share of total imports. Moreover, methanol imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +9.2%.

In value terms, the United States ($X) constituted the largest supplier of methanol (methyl alcohol) to Guatemala, comprising 70% of total imports. The second position in the ranking was held by Mexico ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +9.6%.

Import Prices by Country

The average methanol import price stood at $X per ton in 2022, picking up by 5.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 35%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.9%).

Source: IndexBox Platform