Indonesia: Methanol Market 2024

Methanol Market Size in Indonesia

The Indonesian methanol market declined to $X in 2022, reducing by -13.4% against the previous year. Overall, consumption, however, showed buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Methanol Production in Indonesia

In value terms, methanol production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 74% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Methanol Exports

Exports from Indonesia

In 2022, overseas shipments of methanol (methyl alcohol) were finally on the rise to reach X tons for the first time since 2013, thus ending a eight-year declining trend. Overall, exports, however, saw a abrupt downturn. Over the period under review, the exports reached 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 expanded markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 when exports increased by 36% 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

China (X tons) was the main destination for methanol exports from Indonesia, accounting for a 47% share of total exports. Moreover, methanol exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+8.6% per year) and the Philippines (+0.4% per year).

In value terms, China ($X) remains the key foreign market for methanol (methyl alcohol) exports from Indonesia, comprising 44% of total exports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total exports. It was followed by the Philippines, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+7.4% per year) and the Philippines (-1.1% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, with a decrease of -14.4% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Singapore ($X per ton) and Australia ($X per ton), while the average price for exports to China ($X per ton) and Thailand ($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 (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Indonesia

In 2022, imports of methanol (methyl alcohol) into Indonesia shrank remarkably to X tons, which is down by -15.1% against the previous year's figure. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 99.9% against the previous year. Imports peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, methanol imports fell modestly to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 146% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest methanol supplier to Indonesia, accounting for a 44% share of total imports. Moreover, methanol imports from Malaysia exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), threefold. Brunei Darussalam (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+19.9% per year) and Brunei Darussalam (+18.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of methanol (methyl alcohol) to Indonesia, comprising 45% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 17% share of total imports. It was followed by Brunei Darussalam, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+21.7% per year) and Brunei Darussalam (+20.5% per year).

Import Prices by Country

The average methanol import price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +77.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 58%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Brunei Darussalam ($X per ton) and Malaysia ($X per ton), while the price for Singapore ($X per ton) and Qatar ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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