Africa: Methanol Market 2024

Methanol Market Size in Africa

In 2022, the African methanol market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methanol Production in Africa

In value terms, methanol production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a modest increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Methanol Exports

Exports in Africa

In 2022, the amount of methanol (methyl alcohol) exported in Africa reduced markedly to X tons, falling by X% on the year before. Overall, exports, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, methanol exports dropped markedly to $X in 2022. In general, exports showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Equatorial Guinea (X tons) and Egypt (X tons) dominates exports structure, together making up X% of total exports. Algeria (X tons) and Libya (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Equatorial Guinea ($X) remains the largest methanol supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by Algeria, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Equatorial Guinea was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and Algeria (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 Libya ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced a decline in the export price figures.

Methanol Imports

Imports in Africa

Methanol imports surged to X tons in 2022, with an increase of X% compared with the previous year. In general, imports saw a modest increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, methanol imports rose rapidly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

South Africa represented the key importing country with an import of around X tons, which amounted to X% of total imports. Angola (X tons) ranks second in terms of the total imports with a X% share, followed by Egypt (X%), Nigeria (X%) and Kenya (X%). Ghana (X tons) and Tanzania (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to methanol imports into South Africa stood at X%. At the same time, Ghana (X%), Tanzania (X%), Kenya (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Angola (X%) and Egypt (X%) illustrated a downward trend over the same period. South Africa (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Angola and Egypt saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest methanol importing markets in Africa were Angola ($X), South Africa ($X) and Nigeria ($X), together accounting for X% of total imports.

Among the main importing countries, South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the import price in Africa amounted to $X per ton, declining by X% against the previous year. Overall, the import price saw a mild reduction. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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