Japan: Methanol Market 2024

Methanol Market Size in Japan

In 2022, the Japanese methanol market increased by 2.2% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. Methanol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methanol Exports

Exports from Japan

After two years of growth, overseas shipments of methanol (methyl alcohol) decreased by -94.6% to X tons in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 3,278%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined sharply in the following year.

In value terms, methanol exports contracted notably to $X in 2022. In general, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,808% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for methanol exports from Japan, with a 94% share of total exports. Moreover, methanol exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total exports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) stood at +53.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+67.0% per year) and South Korea (-20.5% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for methanol (methyl alcohol) exports from Japan, comprising 89% of total exports. The second position in the ranking was held by Malaysia ($X), with a 1.4% share of total exports. It was followed by South Korea, with a 0.6% share.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) totaled +35.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+37.7% per year) and South Korea (-19.6% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, jumping by 51% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2014 an increase of 103% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 Indonesia (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Methanol Imports

Imports into Japan

In 2022, approx. X tons of methanol (methyl alcohol) were imported into Japan; which is down by -3.4% against 2021 figures. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, methanol imports declined to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of methanol to Japan, accounting for a 45% share of total imports. Moreover, methanol imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Trinidad and Tobago (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Trinidad and Tobago (+35.9% per year) and the United States (+97.6% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of methanol (methyl alcohol) to Japan, comprising 46% of total imports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 20% share of total imports. It was followed by the United States, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Trinidad and Tobago (+35.8% per year) and the United States (+74.1% per year).

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, picking up by 2.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 59%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and the United States ($X per ton), while the price for Oman ($X per ton) and Venezuela ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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