Finland: Ethanol Market 2024

Ethanol Market Size in Finland

In 2022, the Finnish ethanol market increased by 21% to $X, rising for the sixth year in a row after four years of decline. Over the period under review, consumption, however, enjoyed a notable increase. Ethanol consumption peaked in 2022 and is likely to see steady growth in years to come.

Ethanol Production in Finland

In value terms, ethanol production surged to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt descent. 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 from Finland

In 2022, the amount of ethyl alcohol exported from Finland stood at X litres, therefore, remained relatively stable against the year before. In general, exports posted a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 23%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, ethanol exports totaled $X in 2022. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 36%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Sweden (X litres) was the main destination for ethanol exports from Finland, with a 67% share of total exports. Moreover, ethanol exports to Sweden exceeded the volume sent to the second major destination, Germany (X litres), fourfold. The third position in this ranking was taken by Estonia (X litres), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and Estonia (+0.8% per year).

In value terms, the largest markets for ethanol exported from Finland were Germany ($X), Sweden ($X) and Estonia ($X), together accounting for 89% of total exports.

Among the main countries of destination, Sweden, with a CAGR of +6.2%, recorded the highest rates of growth with regard to 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

The average ethanol export price stood at $X per litre in 2022, approximately equating the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 10%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per litre), while the average price for exports to Sweden ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+4.9%).

Ethanol Imports

Imports into Finland

After four years of growth, overseas purchases of ethyl alcohol decreased by -2.6% to X litres in 2022. Over the period under review, imports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2019 with an increase of 14,267% against the previous year. Imports peaked at X litres in 2021, and then contracted modestly in the following year.

In value terms, ethanol imports soared to $X in 2022. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 6,774%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X litres) was the main supplier of ethanol to Finland, with a 91% share of total imports. Moreover, ethanol imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X litres), more than tenfold. Sweden (X litres) ranked third in terms of total imports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Sweden (-15.6% per year).

In value terms, the United States ($X) constituted the largest supplier of ethyl alcohol to Finland, comprising 79% of total imports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total imports. It was followed by Sweden, with a 1% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Sweden (-12.0% per year).

Import Prices by Country

The average ethanol import price stood at $X per litre in 2022, jumping by 58% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 +86.8% against 2019 indices. Over the period under review, average import prices attained the peak figure at $X per litre in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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