May 18, 2025
IndexBox has just published a new report: United Kingdom – Methanol (Methyl Alcohol) – Market Analysis, Forecast, Size, Trends And Insights.
The article discusses the forecasted growth of the methanol market in the UK, with a predicted CAGR of +0.3% in volume and +0.8% in value from 2024 to 2035. The market volume is expected to reach 357K tons and the market value to reach $122M by the end of 2035.
Market Forecast
Driven by rising demand for methanol in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 357K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market value to $122M (in nominal wholesale prices) by the end of 2035.
Consumption
United Kingdom’s Consumption of Methanol (Methyl Alcohol)
In 2024, the amount of methanol (methyl alcohol) consumed in the UK skyrocketed to 346K tons, increasing by 56% on the previous year. Over the period under review, consumption, however, saw a pronounced descent. Over the period under review, consumption attained the peak volume at 512K tons in 2015; however, from 2016 to 2024, consumption stood at a somewhat lower figure.
The size of the methanol market in the UK skyrocketed to $113M in 2024, jumping by 74% 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). Overall, consumption, however, recorded a deep setback. Over the period under review, the market hit record highs at $233M in 2013; however, from 2014 to 2024, consumption remained at a lower figure.
Production
United Kingdom’s Production of Methanol (Methyl Alcohol)
In 2024, methanol production in the UK expanded to 336 tons, surging by 2% compared with the year before. In general, the total production indicated strong growth from 2013 to 2024: its volume increased at an average annual rate of +6.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.0% against 2022 indices. The pace of growth was the most pronounced in 2022 when the production volume increased by 8.5%. As a result, production attained the peak volume of 343 tons. From 2023 to 2024, production growth remained at a somewhat lower figure.
In value terms, methanol production rose to $142K in 2024 estimated in export price. Overall, production continues to indicate resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. Over the period under review, production reached the maximum level at $148K in 2022; however, from 2023 to 2024, production failed to regain momentum.
Imports
United Kingdom’s Imports of Methanol (Methyl Alcohol)
In 2024, approx. 347K tons of methanol (methyl alcohol) were imported into the UK; jumping by 53% compared with the year before. Over the period under review, imports, however, continue to indicate a perceptible curtailment. Imports peaked at 520K tons in 2015; however, from 2016 to 2024, imports failed to regain momentum.
In value terms, methanol imports skyrocketed to $118M in 2024. In general, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 when imports increased by 66%. Over the period under review, imports attained the peak figure at $240M in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.
Imports By Country
The Netherlands (137K tons), Belgium (78K tons) and the United States (12K tons) were the main suppliers of methanol imports to the UK, together comprising 100% of total imports.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +68.8%), while imports for the other leaders experienced mixed trend patterns.
In value terms, the largest methanol suppliers to the UK were the Netherlands ($44M), Belgium ($24M) and the United States ($2.6M), together comprising 98% of total imports.
The United States, with a CAGR of +54.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices By Country
In 2023, the average methanol import price amounted to $314 per ton, falling by -11.3% against the previous year. Over the period under review, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when the average import price increased by 47% against the previous year. The import price peaked at $466 per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($394 per ton), while the price for the United States ($208 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Finland (-0.8%), while the prices for the other major suppliers experienced a decline.
Exports
United Kingdom’s Exports of Methanol (Methyl Alcohol)
In 2024, methanol exports from the UK fell remarkably to 1.5K tons, dropping by -77.8% on the year before. In general, exports recorded a abrupt decrease. The growth pace was the most rapid in 2023 when exports increased by 111%. The exports peaked at 11K tons in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.
In value terms, methanol exports reduced to $5.9M in 2024. Overall, exports showed a pronounced decrease. The growth pace was the most rapid in 2023 with an increase of 25%. The exports peaked at $9.7M in 2014; however, from 2015 to 2024, the exports failed to regain momentum.
Exports By Country
Ireland (1.2K tons), the Netherlands (793 tons) and Poland (566 tons) were the main destinations of methanol exports from the UK, together accounting for 39% of total exports. Tunisia, France, Azerbaijan, Belgium, Bangladesh, South Africa and Singapore lagged somewhat behind, together comprising a further 19%.
From 2013 to 2023, the biggest increases were recorded for Azerbaijan (with a CAGR of +211.8%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the Netherlands ($1.9M), Poland ($1M) and Ireland ($856K) appeared to be the largest markets for methanol exported from the UK worldwide, with a combined 55% share of total exports. France, South Africa, Belgium, Tunisia, Bangladesh, Azerbaijan and Singapore lagged somewhat behind, together comprising a further 27%.
In terms of the main countries of destination, Tunisia, with a CAGR of +104.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
In 2023, the average methanol export price amounted to $1,045 per ton, reducing by -40.8% against the previous year. Overall, the export price, however, showed moderate growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices hit record highs at $1,765 per ton in 2022, and then fell markedly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was South Africa ($2,898 per ton), while the average price for exports to Tunisia ($524 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.
