Eastern Europe: Ethanol Market 2024

Ethanol Market Size in Eastern Europe

In 2022, after two years of decline, there was growth in the East European ethanol market, when its value increased by 4% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Ethanol Production in Eastern Europe

In value terms, ethanol production fell to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 11% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Ethanol Exports

Exports in Eastern Europe

Ethanol exports expanded to X litres in 2022, picking up by 2.9% against the previous year's figure. Over the period under review, exports recorded a prominent increase. The growth pace was the most rapid in 2020 with an increase of 78% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, ethanol exports surged to $X in 2022. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 41%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Hungary represented the major exporter of ethyl alcohol in Eastern Europe, with the volume of exports recording X litres, which was approx. 44% of total exports in 2022. It was distantly followed by Poland (X litres), Slovakia (X litres), Russia (X litres) and Bulgaria (X litres), together achieving a 43% share of total exports. The following exporters - Ukraine (X litres) and Moldova (X litres) - together made up 6.5% of total exports.

Exports from Hungary increased at an average annual rate of +9.8% from 2012 to 2022. At the same time, Moldova (+79.3%), Ukraine (+28.2%), Poland (+25.9%), Bulgaria (+9.9%), Russia (+4.1%) and Slovakia (+2.8%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +79.3% from 2012-2022. While the share of Poland (+14 p.p.), Hungary (+5 p.p.), Ukraine (+3 p.p.) and Moldova (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-4.6 p.p.) and Slovakia (-7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) remains the largest ethanol supplier in Eastern Europe, comprising 46% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports. It was followed by Slovakia, with an 8.1% share.

In Hungary, ethanol exports increased at an average annual rate of +13.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+29.6% per year) and Slovakia (+1.5% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per litre, growing by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.0%), while the other leaders experienced more modest paces of growth.

Ethanol Imports

Imports in Eastern Europe

In 2022, imports of ethyl alcohol in Eastern Europe rose to X litres, increasing by 2% on 2021 figures. Overall, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 38% against the previous year. The volume of import peaked at X litres in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ethanol imports soared to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 31% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The purchases of the three major importers of ethyl alcohol, namely Romania, Poland and the Czech Republic, represented more than two-thirds of total import. Lithuania (X litres) took the next position in the ranking, followed by Hungary (X litres) and Slovakia (X litres). All these countries together took near 24% share of total imports. Latvia (X litres) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Czech Republic (with a CAGR of +16.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethanol importing markets in Eastern Europe were Romania ($X), Poland ($X) and the Czech Republic ($X), with a combined 71% share of total imports.

The Czech Republic, with a CAGR of +19.4%, saw the highest growth rate of the value of imports, among the main importing countries 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 Europe amounted to $X per litre, with an increase of 19% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanol import price increased by +60.7% against 2016 indices. 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 2022, major importing countries recorded the following prices: in Hungary ($X per litre) and the Czech Republic ($X per litre), while Slovakia ($X per litre) and Romania ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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