Iran: Methanol Market 2024

Methanol Market Size in Iran

The Iranian methanol market contracted significantly to $X in 2022, which is down by -37.2% against the previous year. In general, consumption, however, recorded buoyant growth. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

Methanol Production in Iran

In value terms, methanol production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 27% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Methanol Exports

Exports from Iran

In 2022, after three years of decline, there was significant growth in shipments abroad of methanol (methyl alcohol), when their volume increased by 214% to X tons. In general, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, methanol exports soared to $X in 2022. Overall, exports, however, continue to indicate a deep setback. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for methanol exports from Iran, with a 82% share of total exports. Moreover, methanol exports to China exceeded the volume sent to the second major destination, India (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -3.7%.

In value terms, China ($X) remains the key foreign market for methanol (methyl alcohol) exports from Iran, comprising 82% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -8.5%.

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, dropping by -39.2% against the previous year. In general, the export price showed a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 87% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-2.3%), while the prices for the other major destinations experienced a decline.

Methanol Imports

Imports into Iran

In 2022, supplies from abroad of methanol (methyl alcohol) increased by 76% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 226%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, methanol imports contracted to $X in 2022. In general, imports, however, faced a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by 174% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of methanol to Iran, accounting for a 41% share of total imports. Moreover, methanol imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Turkey (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 the Netherlands totaled +119.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.5% per year) and Turkey (+10.3% per year).

In value terms, France ($X), Turkey ($X) and the UK ($X) constituted the largest methanol suppliers to Iran, with a combined 59% share of total imports. The Netherlands and Germany lagged somewhat behind, together accounting for a further 8.8%.

The Netherlands, with a CAGR of +109.8%, 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, dropping by -48.3% against the previous year. Overall, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of 138% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 UK ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :