Hungary: Methanol Market 2024

Methanol Market Size in Hungary

The Hungarian methanol market plummeted to $X in 2022, which is down by -27.8% against the previous year. Overall, consumption saw 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 Hungary

In value terms, methanol production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 7% against the previous year. Methanol production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Methanol Exports

Exports from Hungary

After two years of growth, overseas shipments of methanol (methyl alcohol) decreased by -98.9% to X tons in 2022. Over the period under review, exports recorded a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 240%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, methanol exports shrank dramatically to $X in 2022. Overall, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2021 with an increase of 210% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons), Slovenia (X tons) and Greece (X kg) were the main destinations of methanol exports from Hungary, together accounting for 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +114.2%), while the other leaders experienced a decline.

In value terms, Greece ($X), Romania ($X) and Slovenia ($X) constituted the largest markets for methanol exported from Hungary worldwide, together comprising 100% of total exports.

Among the main countries of destination, Slovenia, with a CAGR of +71.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average methanol export price stood at $X per ton in 2022, growing by 192% against the previous year. Overall, the export price saw buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Slovenia ($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 Greece (+66.0%), while the prices for the other major destinations experienced mixed trend patterns.

Methanol Imports

Imports into Hungary

In 2022, the amount of methanol (methyl alcohol) imported into Hungary contracted notably to X tons, which is down by -37.2% compared with the previous year. Overall, imports showed a mild slump. The most prominent rate of growth was recorded in 2015 with an increase of 16%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, methanol imports fell significantly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 73%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Poland (X tons), Slovakia (X tons) and Germany (X tons) were the main suppliers of methanol imports to Hungary, together accounting for 66% of total imports. Russia, the Netherlands, Slovenia and Austria lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +632.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Poland ($X) and Germany ($X) were the largest methanol suppliers to Hungary, with a combined 63% share of total imports.

The Netherlands, with a CAGR of +534.0%, saw the highest growth rate of the value of imports, among the main suppliers 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, jumping by 21% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 +89.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 57%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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