GCC: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in GCC

In 2021, the GCC denatured ethyl alcohol market decreased by -11.2% to $X, falling for the third year in a row after three years of growth. Overall, consumption saw a perceptible decrease. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Denatured Ethyl Alcohol Production in GCC

In value terms, denatured ethyl alcohol production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 100% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Denatured Ethyl Alcohol Exports

Exports in GCC

In 2021, overseas shipments of denatured ethyl alcohol and other denatured spirits decreased by -3.8% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 227% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, denatured ethyl alcohol exports plummeted to $X in 2021. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 174% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the main exporter of denatured ethyl alcohol and other denatured spirits in GCC, with the volume of exports recording X tons, which was approx. 81% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), constituting a 16% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of -3.8% from 2012 to 2021. At the same time, Saudi Arabia (+9.3%) and Oman (+8.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +9.3% from 2012-2021. While the share of Saudi Arabia (+10 p.p.) and Oman (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-10.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest denatured ethyl alcohol supplier in GCC, comprising 83% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports.

In the United Arab Emirates, denatured ethyl alcohol exports decreased by an average annual rate of -6.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-1.0% per year) and Oman (+11.0% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, dropping by -35.6% against the previous year. Overall, the export price saw a noticeable decrease. The growth pace was the most rapid in 2017 when the export price increased by 34% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+2.5%), while the other leaders experienced a decline in the export price figures.

Denatured Ethyl Alcohol Imports

Imports in GCC

In 2021, overseas purchases of denatured ethyl alcohol and other denatured spirits decreased by -40.8% to X tons, falling for the third consecutive year after two years of growth. In general, imports recorded a noticeable decrease. The growth pace was the most rapid in 2014 when imports increased by 124%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, denatured ethyl alcohol imports declined remarkably to $X in 2021. Over the period under review, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2014 when imports increased by 99%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was near 85% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), generating a 9.7% share of total imports. The following importers - Kuwait (X tons) and Oman (X tons) - each amounted to a 3.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to denatured ethyl alcohol imports into the United Arab Emirates stood at -3.0%. At the same time, Kuwait (+32.7%) and Oman (+3.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +32.7% from 2012-2021. By contrast, Saudi Arabia (-10.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Kuwait increased by +5.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported denatured ethyl alcohol and other denatured spirits in GCC, comprising 76% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total imports. It was followed by Kuwait, with a 3.1% share.

In the United Arab Emirates, denatured ethyl alcohol imports contracted by an average annual rate of -8.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-8.9% per year) and Kuwait (+31.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, which is down by -6.1% against the previous year. Overall, the import price recorded a perceptible setback. The growth pace was the most rapid in 2020 an increase of 77% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform