Slovakia: Methanol Market 2024

Methanol Market Size in Slovakia

In 2022, the Slovak methanol market increased by 18% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed a resilient increase. Methanol consumption peaked in 2022 and is likely to see steady growth in the near future.

Methanol Production in Slovakia

In value terms, methanol production expanded slightly to $X in 2022 estimated in export price. Overall, production saw a mild increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 81%. Methanol production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports from Slovakia

Methanol exports from Slovakia plummeted to X tons in 2022, shrinking by -89% compared with the year before. Overall, exports faced a significant decrease. The pace of growth appeared the most rapid in 2020 with an increase of 153%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, methanol exports contracted significantly to $X in 2022. In general, exports faced a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 90%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Hungary amounted to -20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (0.0% per year) and Austria (-62.3% per year).

In value terms, Hungary ($X) remains the key foreign market for methanol (methyl alcohol) exports from Slovakia, comprising 76% of total exports. The second position in the ranking was taken by Serbia ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hungary totaled -21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (0.0% per year) and Austria (-64.5% per year).

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 65%. The export price peaked 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Hungary ($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 Bulgaria (+13.7%), while the prices for the other major destinations experienced a decline.

Methanol Imports

Imports into Slovakia

In 2022, overseas purchases of methanol (methyl alcohol) decreased by -47% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 47%. Imports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, methanol imports declined markedly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 95% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest methanol supplier to Slovakia, with a 77% share of total imports. Moreover, methanol imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+76.6% per year) and Poland (-3.8% per year).

In value terms, Russia ($X) constituted the largest supplier of methanol (methyl alcohol) to Slovakia, comprising 80% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+71.4% per year) and Poland (-7.3% per year).

Import Prices by Country

The average methanol import price stood at $X per ton in 2022, growing by 13% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +85.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 64% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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