Romania: Methanol Market 2024

Methanol Market Size in Romania

The Romanian methanol market fell to $X in 2022, which is down by -5.1% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +60.4% against 2020 indices. Methanol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Methanol Production in Romania

In value terms, methanol production fell notably to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 87% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Methanol Exports

Exports from Romania

In 2022, exports of methanol (methyl alcohol) from Romania surged to X tons, with an increase of 67% on 2021 figures. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2019 when exports increased by 625% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, methanol exports surged to $X in 2022. Overall, exports recorded a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 486%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons) was the main destination for methanol exports from Romania, accounting for a 86% share of total exports. Moreover, methanol exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X tons), more than tenfold. Ukraine (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bulgaria amounted to +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+12.9% per year) and Ukraine (0.0% per year).

In value terms, Bulgaria ($X) remains the key foreign market for methanol (methyl alcohol) exports from Romania, comprising 85% of total exports. The second position in the ranking was taken by Greece ($X), with a 5.3% share of total exports. It was followed by Ukraine, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to Bulgaria totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+12.4% per year) and Ukraine (0.0% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, with an increase of 2.3% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% 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 +78.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 75% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Greece ($X per ton) and Ukraine ($X per ton), while the average price for exports to Germany ($X per ton) and Bulgaria ($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 Bulgaria (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Methanol Imports

Imports into Romania

In 2022, the amount of methanol (methyl alcohol) imported into Romania rose to X tons, picking up by 3.8% compared with the previous year. In general, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +73.0% against 2015 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 20%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, methanol imports stood at $X in 2022. Over the period under review, imports recorded a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 99% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Georgia (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of methanol imports to Romania, with a combined 72% share of total imports. Slovenia, Finland, Venezuela, Turkey and Germany lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +78.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Georgia ($X), Russia ($X) and Poland ($X) were the largest methanol suppliers to Romania, with a combined 73% share of total imports.

Georgia, with a CAGR of +79.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, growing by 6.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 77% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Georgia ($X per ton), while the price for Poland ($X per ton) and Slovenia ($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 (+40.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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