Asia: Methanol Market Overview 2021

Methanol Market Size in Asia

In 2019, after two years of growth, there was significant decline in the Asian methanol market, when its value decreased by -X% to $X. In general, consumption continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2018 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Methanol Production in Asia

In value terms, methanol production contracted significantly to $X in 2019 estimated in export prices. Overall, production recorded a mild curtailment. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, production hit record highs at $X in 2008; however, from 2009 to 2019, production failed to regain the momentum.

Production By Country in Asia

The countries with the highest volumes of methanol production in 2019 were Iran (X tonnes), Saudi Arabia (X tonnes) and China (X tonnes), with a combined X% share of total production. Oman, Malaysia, Indonesia and Qatar lagged somewhat behind, together comprising a further X 2007 to 2019, the biggest increases were in Oman, while methanol production for the other leaders experienced more modest paces of growth.

Methanol Exports

Exports in Asia

In 2019, the amount of methanol (methyl alcohol) exported in Asia declined rapidly to X tonnes, with a decrease of -X% on 2018. The total export volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at X tonnes in 2018, and then fell sharply in the following year.

In value terms, methanol exports dropped sharply to $X in 2019. Total exports indicated tangible growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports attained the maximum at $X in 2018, and then contracted notably in the following year.

Exports by Country

In 2019, Iran (X tonnes), Saudi Arabia (X tonnes), Oman (X tonnes) and Malaysia (X tonnes) represented the major exporter of methanol (methyl alcohol) in Asia, achieving X% of total export. It was distantly followed by Qatar (X tonnes), constituting a X% share of total exports. Bahrain (X tonnes) and China (X tonnes) held a relatively small share of total exports.

From 2007 to 2019, the biggest increases were in Oman, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the largest methanol supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In Iran, methanol exports expanded at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Saudi Arabia (-X% per year) and Oman (+X% per year).

Export Prices by Country

In 2019, the methanol export price in Asia amounted to $X per tonne, remaining stable against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, export prices hit record highs at $X per tonne in 2014; however, from 2015 to 2019, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was China ($X per tonne), while Oman ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Methanol Imports

Imports in Asia

In 2019, the amount of methanol (methyl alcohol) imported in Asia dropped markedly to X tonnes, waning by -X% on the previous year. Total imports indicated a noticeable increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. The volume of import peaked at X tonnes in 2018, and then contracted markedly in the following year.

In value terms, methanol imports declined sharply to $X in 2019. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2018, and then reduced rapidly in the following year.

Imports by Country

In 2019, India (X tonnes), South Korea (X tonnes), Japan (X tonnes) and Taiwan (Chinese) (X tonnes) was the largest importer of methanol (methyl alcohol) in Asia, comprising X% of total import. It was distantly followed by Indonesia (X tonnes), Thailand (X tonnes) and Singapore (X tonnes), together mixing up a X% share of total imports.

From 2007 to 2019, the biggest increases were in Indonesia, while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Taiwan (Chinese) ($X) and Japan ($X) were the countries with the highest levels of imports in 2019, with a combined X% share of total imports. These countries were followed by South Korea, Indonesia, Thailand and Singapore, which together accounted for a further X saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the methanol import price in Asia amounted to $X per tonne, declining by -X% against the previous year. Overall, the import price recorded a mild decrease. The growth pace was the most rapid in 2017 an increase of X% year-to-year. Over the period under review, import prices attained the peak figure at $X per tonne in 2014; however, from 2015 to 2019, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2019, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per tonne) and Indonesia ($X per tonne), while India ($X per tonne) and South Korea ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for methanol (methyl alcohol) in Asia?

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The countries with the highest volumes of methanol consumption in 2019 were China (2.7M tonnes), India (2.3M tonnes) and South Korea (1.8M tonnes), with a combined 40% share of total consumption.

What are the largest producers of methanol (methyl alcohol) in Asia?

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The countries with the highest volumes of methanol production in 2019 were Iran (4.6M tonnes), Saudi Arabia (3.2M tonnes) and China (2.9M tonnes), together comprising 63% of total production. Oman, Malaysia, Indonesia and Qatar lagged somewhat behind, together comprising a further 28%.

What are the leading exporters of methanol (methyl alcohol) in Asia?

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In value terms, Iran ($1.7B) emerged as the largest methanol supplier in Asia, comprising 42% of total exports. The second position in the ranking was occupied by Saudi Arabia ($818M), with a 20% share of total exports. It was followed by Oman, with a 12% share.

What are the leading importers of methanol (methyl alcohol) in Asia?

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In value terms, India ($632M), Taiwan (Chinese) ($599M) and Japan ($512M) constituted the countries with the highest levels of imports in 2019, together comprising 49% of total imports. These countries were followed by South Korea, Indonesia, Thailand and Singapore, which together accounted for a further 34%.

What is the average export price for methanol (methyl alcohol) in Asia?

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The methanol export price in Asia stood at $367 per tonne in 2019, flattening at the previous year.

What is the average import price for methanol (methyl alcohol) in Asia?

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In 2019, the methanol import price in Asia amounted to $317 per tonne, shrinking by -18.4% against the previous year.