Methanol Market Dynamics: Analyzing Price Trends and Global Trade in 2023-2024

The methanol market in China has seen significant price increases in 2023 and 2024, with October prices jumping from $339 to $355 per ton, marking a 4.6% year-over-year rise. November prices also climbed from $339 to $351 per ton (+3.5% YoY), while December prices increased from $345 to $361 per ton (+4.8% YoY). These trends are driven by consistent demand and balanced supply, despite a generally sluggish market. Explore the factors influencing these price movements and what they mean for the future of the methanol industry.

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Published Aug 5, 2025

HYDROGEN

The methanol market has experienced notable price fluctuations in the Chinese spot market during 2023 and 2024, with an upward trend in year-over-year (YoY) prices. In October 2023, methanol prices were recorded at $339 per ton, rising to $355 per ton by October 2024, reflecting a YoY increase of 4.6%.

Similarly, prices in November 2023 rose from $339 to $351 per ton in November 2024 (+3.5% YoY), while December saw an increase from $345 to $361 per ton (+4.8% YoY). This trend is primarily attributed to steady demand and a balanced supply, despite an overall sluggish market environment.

Looking ahead, Expert Market Research predicts a weakening of methanol prices in 2025 due to sustained sluggish demand and steady supply, compounded by limited global market support. While regional shifts may provide some upward pressure, the overall pricing landscape is expected to remain subdued.

In the global methanol trade, Trinidad and Tobago leads as the largest exporter, with Methanol Holdings (Trinidad) Limited playing a key role. Saudi Arabia, the United States, and Oman also contribute significantly to global supply. Conversely, China ranks as the world's largest importer, followed closely by India and the Netherlands.

Major suppliers such as Methanex Corporation, SABIC, and OCI (USA) are critical in meeting global demand, particularly in key importing nations that rely on methanol for their industrial and chemical sectors.

In summary, the methanol market is currently characterized by stable yet increasing prices, influenced by a complex interplay of global supply-demand dynamics. However, the outlook for 2025 indicates potential challenges ahead.