Eastern Asia: Ethanol Market 2024

Ethanol Market Size in Eastern Asia

The East Asian ethanol market declined to $X in 2022, waning by -12.3% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +13.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then fell in the following year.

Ethanol Production in Eastern Asia

In value terms, ethanol production amounted to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 -1.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 46% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ethanol Exports

Exports in Eastern Asia

In 2022, exports of ethyl alcohol in Eastern Asia dropped remarkably to X litres, declining by -32.2% on 2021 figures. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 679%. As a result, the exports reached 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 contracted remarkably to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 817% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea was the major exporter of ethyl alcohol in Eastern Asia, with the volume of exports resulting at X litres, which was approx. 61% of total exports in 2022. It was distantly followed by China (X litres), constituting a 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +8.4%).

In value terms, the largest ethanol supplying countries in Eastern Asia were South Korea ($X) and China ($X).

South Korea, with a CAGR of +8.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per litre, increasing by 23% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per litre), while China amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%).

Ethanol Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of ethyl alcohol, when their volume decreased by -40.3% to X litres. Overall, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 219% against the previous year. The volume of import peaked at X litres in 2021, and then contracted sharply in the following year.

In value terms, ethanol imports rose slightly to $X in 2022. In general, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 200%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

South Korea (X litres) and Japan (X litres) represented roughly 79% of total imports in 2022. It was distantly followed by China (X litres), mixing up an 18% share of total imports. Taiwan (Chinese) (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main 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, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined 98% share of total imports.

Among the main importing countries, China, with a CAGR of +48.0%, recorded the highest growth rate of 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

In 2022, the import price in Eastern Asia amounted to $X per litre, picking up by 74% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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 a decline in the import price figures.

Source: IndexBox Platform

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