Asia-Pacific: Ethanol Market 2024

Ethanol Market Size in Asia-Pacific

After four years of growth, the Asia-Pacific ethanol market decreased by -6.5% to $X in 2022. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.0% against 2017 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted in the following year.

Ethanol Production in Asia-Pacific

In value terms, ethanol production rose slightly to $X in 2022 estimated in export price. The total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.8% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 28% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Ethanol Exports

Exports in Asia-Pacific

In 2022, approx. X litres of ethyl alcohol were exported in Asia-Pacific; growing by 17% on 2021 figures. Total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -22.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 57% against the previous year. As a result, the exports attained the peak of X litres. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ethanol exports soared to $X in 2022. Over the period under review, exports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 102% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Pakistan prevails in exports structure, resulting at X litres, which was approx. 70% of total exports in 2022. It was distantly followed by India (X litres) and Australia (X litres), together generating a 15% share of total exports. The following exporters - South Korea (X litres), Indonesia (X litres), Vietnam (X litres) and China (X litres) - together made up 11% of total exports.

Pakistan was also the fastest-growing in terms of the ethyl alcohol exports, with a CAGR of +15.2% from 2012 to 2022. At the same time, South Korea (+8.4%) and Australia (+4.8%) displayed positive paces of growth. By contrast, Indonesia (-2.6%), India (-2.7%), China (-11.9%) and Vietnam (-12.4%) illustrated a downward trend over the same period. Pakistan (+51 p.p.), Australia (+1.8 p.p.) and South Korea (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while India, China and Vietnam saw its share reduced by -4.3%, -5.9% and -8.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Pakistan ($X) remains the largest ethanol supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was taken by India ($X), with a 9.8% share of total exports. It was followed by Australia, with a 9.1% share.

In Pakistan, ethanol exports expanded at an average annual rate of +11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-5.2% per year) and Australia (+8.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per litre in 2022, picking up by 2% against the previous year. Overall, the export price, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2020 when the export price increased by 29%. The level of export peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.3%), while the other leaders experienced more modest paces of growth.

Ethanol Imports

Imports in Asia-Pacific

In 2022, purchases abroad of ethyl alcohol decreased by -32.6% to X litres for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 95%. The volume of import peaked at X litres in 2021, and then shrank sharply in the following year.

In value terms, ethanol imports expanded remarkably to $X in 2022. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 90% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

South Korea (X litres) and Japan (X litres) represented roughly 50% of total imports in 2022. The Philippines (X litres) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by India (13%), China (11%) and Singapore (6.4%). Taiwan (Chinese) (X litres) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +31.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethanol importing markets in Asia-Pacific were China ($X), South Korea ($X) and Japan ($X), together accounting for 62% of total imports.

Among the main importing countries, China, with a CAGR of +48.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per litre in 2022, jumping by 57% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per litre), while South Korea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :