Methanol Market Overview in Asia
In value terms, methanol production fell significantly to $ in 2019 estimated in export prices. In general, production continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. The level of production peaked at $ in 2008; however, from 2009 to 2019, production remained at a lower figure.
The countries with the highest volumes of methanol production in 2019 were Iran ( tonnes), Saudi Arabia ( tonnes) and China ( tonnes), with a combined % share of total production. Oman, Malaysia, Indonesia and Qatar lagged somewhat behind, together comprising a further %.
From 2007 to 2019, the biggest increases were in Oman, while methanol production for the other leaders experienced more modest paces of growth.
The value of the methanol market in Asia fell sharply to $ in 2019, which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2018 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $, and then shrank notably in the following year.
From 2007 to 2019, the biggest increases were in India, while methanol consumption for the other leaders experienced more modest paces of growth.
In value terms, China ($), India ($) and Taiwan, Chinese ($) constituted the countries with the highest levels of market value in 2019, together comprising % of the total market.
India recorded the highest rates of growth with regard to market size, in terms of the main consuming countries over the period under review, while methanol market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of methanol per capita consumption in 2019 were Singapore ( kg per person), Taiwan, Chinese ( kg per person) and South Korea ( kg per person).
From 2007 to 2019, the most notable rate of growth in terms of methanol per capita consumption, amongst the leading consuming countries, was attained by India, while methanol per capita consumption for the other leaders experienced more modest paces of growth.