South-Eastern Asia: Methanol Market 2024

Methanol Market Size in South-Eastern Asia

The Southeast Asian methanol market fell to $X in 2022, with a decrease of -10.7% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +25.1% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methanol Production in South-Eastern Asia

In value terms, methanol production shrank markedly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of methanol (methyl alcohol) were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 42% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, methanol exports stood at $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 56% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X tons) represented the main exporter of methanol (methyl alcohol), constituting 66% of total exports. Brunei Darussalam (X tons) ranks second in terms of the total exports with a 25% share, followed by Indonesia (8.2%).

Malaysia was also the fastest-growing in terms of the methanol (methyl alcohol) exports, with a CAGR of +1.6% from 2012 to 2022. Brunei Darussalam experienced a relatively flat trend pattern. Indonesia (-8.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brunei Darussalam increased by +25 percentage points.

In value terms, Malaysia ($X) remains the largest methanol supplier in South-Eastern Asia, comprising 62% of total exports. The second position in the ranking was taken by Brunei Darussalam ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Malaysia was relatively modest. In the other countries, the average annual rates were as follows: Brunei Darussalam (0.0% per year) and Indonesia (-9.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, reducing by -16.7% against the previous year. Over the period under review, the export price recorded a slight setback. The pace of growth appeared the most rapid in 2021 an increase of 69%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-1.3%).

Methanol Imports

Imports in South-Eastern Asia

In 2022, methanol imports in South-Eastern Asia fell to X tons, dropping by -8.2% compared with the year before. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, methanol imports shrank to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value 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 +62.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 76%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Indonesia (X tons), Thailand (X tons), Singapore (X tons) and Malaysia (X tons) was the key importer of methanol (methyl alcohol) in South-Eastern Asia, constituting 84% of total import. It was distantly followed by Vietnam (X tons) and the Philippines (X tons), together constituting a 15% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +12.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest methanol importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Singapore ($X), together accounting for 74% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +13.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, flattening at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 61% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Indonesia ($X per ton) and the Philippines ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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