Global Methanol Market 2024

Methanol Market Size

The global methanol market dropped to $X in 2022, which is down by -1.6% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methanol Production

In value terms, methanol production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 33% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports

In 2022, approx. X tons of methanol (methyl alcohol) were exported worldwide; surging by 1.7% on 2021 figures. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 9.9%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, methanol exports dropped to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons), Trinidad and Tobago (X tons), the United States (X tons), the United Arab Emirates (X tons), Oman (X tons), Russia (X tons), Venezuela (X tons), Iran (X tons), the Netherlands (X tons), Malaysia (X tons), Equatorial Guinea (X tons) and Norway (X tons) represented the major exporter of methanol (methyl alcohol) in the world, constituting 83% of total export.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +41.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United States ($X) and Trinidad and Tobago ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 36% of global exports.

The United States, with a CAGR of +36.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methanol export price amounted to $X per ton, waning by -10.9% against the previous year. In general, the export price recorded a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%), while the other global leaders experienced mixed trends in the export price figures.

Methanol Imports

Imports

Global methanol imports fell to X tons in 2022, remaining constant against 2021 figures. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 9.8% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, methanol imports totaled $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +71.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 69%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) represented the main importer of methanol (methyl alcohol), generating 33% of total imports. India (X tons) took the second position in the ranking, followed by the Netherlands (X tons), South Korea (X tons) and Japan (X tons). All these countries together took approx. 25% share of total imports. Germany (X tons), Taiwan (Chinese) (X tons), Brazil (X tons), the United States (X tons), Poland (X tons), Belgium (X tons), Indonesia (X tons) and Thailand (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to methanol imports into China stood at +9.3%. At the same time, Indonesia (+12.4%), Poland (+9.8%), Brazil (+7.7%), India (+6.3%), Thailand (+3.1%), Belgium (+2.1%), the Netherlands (+2.1%), Taiwan (Chinese) (+2.1%) and South Korea (+2.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +12.4% from 2012-2022. Germany and Japan experienced a relatively flat trend pattern. By contrast, the United States (-11.3%) illustrated a downward trend over the same period. China (+15 p.p.) and India (+2 p.p.) significantly strengthened its position in terms of the global imports, while the United States saw its share reduced by -12% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported methanol (methyl alcohol) worldwide, comprising 29% of global imports. The second position in the ranking was held by India ($X), with a 6.9% share of global imports. It was followed by the Netherlands, with a 6.8% share.

In China, methanol imports expanded at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.1% per year) and the Netherlands (+2.2% per year).

Import Prices by Country

In 2022, the average methanol import price amounted to $X per ton, rising by 2.3% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 54% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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