MENA: Methanol Market 2024

Methanol Market Size in MENA

In 2022, the MENA's methanol market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Methanol Production in MENA

In value terms, methanol production dropped to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methanol Exports

Exports in MENA

In 2022, after five years of growth, there was significant decline in overseas shipments of methanol (methyl alcohol), when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, methanol exports fell notably to $X in 2022. Overall, exports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons), distantly followed by Iran (X tons), Oman (X tons), the United Arab Emirates (X tons) and Egypt (X tons) represented the key exporters of methanol (methyl alcohol), together committing X% of total exports. Bahrain (X tons) took a little share of total exports.

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

In value terms, the largest methanol supplying countries in MENA were Saudi Arabia ($X), Oman ($X) and Iran ($X), with a combined X% share of total exports. The United Arab Emirates, Bahrain and Egypt lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Egypt ($X per ton) was amongst the lowest.

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

Methanol Imports

Imports in MENA

Methanol imports dropped to X tons in 2022, waning by X% compared with the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, methanol imports declined to $X in 2022. Total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Turkey represented the main importing country with an import of about X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Israel (X tons) and Iraq (X tons). All these countries together took near X% share of total imports. Egypt (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to methanol imports into Turkey stood at X%. At the same time, Iraq (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Israel (X%) and Egypt (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Iraq increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported methanol (methyl alcohol) in MENA, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price showed modest growth. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Turkey ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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