Eastern Europe: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Eastern Europe

In 2021, the East European denatured ethyl alcohol market increased by 8.3% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Denatured Ethyl Alcohol Production in Eastern Europe

In value terms, denatured ethyl alcohol production declined to $X in 2021 estimated in export price. Over the period under review, production saw a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Denatured Ethyl Alcohol Exports

Exports in Eastern Europe

In 2021, shipments abroad of denatured ethyl alcohol and other denatured spirits decreased by -35.5% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, the exports reached the peak of X tons, and then fell notably in the following year.

In value terms, denatured ethyl alcohol exports reduced markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a notable expansion. The pace of growth was the most pronounced in 2020 with an increase of 146% against the previous year. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

In 2021, Poland (X tons), Hungary (X tons) and Russia (X tons) was the major exporter of denatured ethyl alcohol and other denatured spirits in Eastern Europe, making up 82% of total export. Bulgaria (X tons) held the next position in the ranking, followed by Lithuania (X tons). All these countries together took approx. 12% share of total exports. Moldova (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Moldova (with a CAGR of +298.2%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Hungary ($X) and Russia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 80% share of total exports. These countries were followed by Bulgaria, Lithuania and Moldova, which together accounted for a further 18%.

In terms of the main exporting countries, Moldova, with a CAGR of +253.0%, saw 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 2021, the export price in Eastern Europe amounted to $X per ton, waning by -16.6% against the previous year. In general, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Lithuania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+0.0%), while the other leaders experienced a decline in the export price figures.

Denatured Ethyl Alcohol Imports

Imports in Eastern Europe

After four years of growth, overseas purchases of denatured ethyl alcohol and other denatured spirits decreased by -10.6% to X tons in 2021. Over the period under review, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 76%. Over the period under review, imports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, denatured ethyl alcohol imports rose markedly to $X in 2021. In general, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 54% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the Czech Republic (X tons) represented the key importer of denatured ethyl alcohol and other denatured spirits, achieving 64% of total imports. Hungary (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Romania (7.5%). Bulgaria (X tons), Poland (X tons), Latvia (X tons) and Slovakia (X tons) followed a long way behind the leaders.

Imports into the Czech Republic increased at an average annual rate of +32.7% from 2012 to 2021. At the same time, Romania (+104.8%), Bulgaria (+12.5%), Slovakia (+7.3%) and Latvia (+2.0%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +104.8% from 2012-2021. By contrast, Poland (-5.1%) and Hungary (-8.4%) illustrated a downward trend over the same period. While the share of the Czech Republic (+55 p.p.) and Romania (+7.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Latvia (-1.8 p.p.), Poland (-6.5 p.p.) and Hungary (-40.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) constitutes the largest market for imported denatured ethyl alcohol and other denatured spirits in Eastern Europe, comprising 70% of total imports. The second position in the ranking was taken by Hungary ($X), with a 10% share of total imports. It was followed by Romania, with a 6.4% share.

In the Czech Republic, denatured ethyl alcohol imports increased at an average annual rate of +36.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hungary (-10.1% per year) and Romania (+58.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, increasing by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Czech Republic ($X per ton) and Poland ($X per ton), while Hungary ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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