India: Ethanol Market 2024

Ethanol Market Size in India

In 2022, the Indian ethanol market decreased by -12.4% to $X, falling for the second year in a row after seven years of growth. Over the period under review, consumption, however, continues to indicate a noticeable expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ethanol Production in India

In value terms, ethanol production rose modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -2.0% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 57% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Ethanol Exports

Exports from India

In 2022, approx. X litres of ethyl alcohol were exported from India; surging by 26% compared with the previous year. In general, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2020 when exports increased by 167%. Over the period under review, the exports hit record highs at X litres in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethanol exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 190% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X litres), Angola (X litres) and Cameroon (X litres) were the main destinations of ethanol exports from India, together accounting for 37% of total exports. Tanzania, Rwanda, Sierra Leone, Ghana, Jordan, Lebanon, Liberia, Iraq, Congo and Nigeria lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +61.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ethanol exported from India were Democratic Republic of the Congo ($X), Angola ($X) and Cameroon ($X), with a combined 37% share of total exports. These countries were followed by Tanzania, Rwanda, Sierra Leone, Ghana, Jordan, Lebanon, Liberia, Iraq, Congo and Nigeria, which together accounted for a further 50%.

Iraq, with a CAGR of +55.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ethanol export price amounted to $X per litre, rising by 19% against the previous year. Overall, the export price, however, saw a pronounced decrease. The export price peaked at $X per litre in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Tanzania ($X per litre) and Rwanda ($X per litre), while the average price for exports to Iraq ($X per litre) and Liberia ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (-2.1%), while the prices for the other major destinations experienced a decline.

Ethanol Imports

Imports into India

For the third year in a row, India recorded decline in overseas purchases of ethyl alcohol, which decreased by -39.8% to X litres in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 114% against the previous year. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, ethanol imports declined dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 93%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X litres) was the main supplier of ethanol to India, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +28.2%.

In value terms, the United States ($X) constituted the largest supplier of ethyl alcohol to India.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +25.8%.

Import Prices by Country

The average ethanol import price stood at $X per litre in 2022, with an increase of 25% against the previous year. In general, the import price, however, showed a mild shrinkage. Over the period under review, average import prices reached the maximum at $X per litre in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -1.8% per year.

Source: IndexBox Platform

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