Portugal: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Portugal

In 2021, the Portuguese denatured ethyl alcohol market decreased by -29.8% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a prominent expansion. Over the period under review, the market attained the peak level at $X in 2020, and then dropped markedly in the following year.

Denatured Ethyl Alcohol Production in Portugal

In value terms, denatured ethyl alcohol production dropped remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 306%. As a result, production attained the peak level of $X, and then declined notably in the following year.

Denatured Ethyl Alcohol Exports

Exports from Portugal

In 2021, denatured ethyl alcohol exports from Portugal skyrocketed to X tons, growing by 32% on the year before. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 130% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, denatured ethyl alcohol exports surged to $X in 2021. In general, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 115%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Spain (X tons) was the main destination for denatured ethyl alcohol exports from Portugal, accounting for a 90% share of total exports. Moreover, denatured ethyl alcohol exports to Spain exceeded the volume sent to the second major destination, Morocco (X tons), more than tenfold. Angola (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (-22.2% per year) and Angola (+1.2% per year).

In value terms, Spain ($X) remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Portugal, comprising 79% of total exports. The second position in the ranking was taken by Angola ($X), with a 5.5% share of total exports. It was followed by Morocco, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+4.0% per year) and Morocco (-18.1% per year).

Export Prices by Country

In 2021, the average denatured ethyl alcohol export price amounted to $X per ton, with a decrease of -9.1% against the previous year. Over the period under review, the export price, however, posted moderate growth. The growth pace was the most rapid in 2013 when the average export price increased by 112% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guinea-Bissau (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Portugal

After two years of growth, supplies from abroad of denatured ethyl alcohol and other denatured spirits decreased by -26.6% to X tons in 2021. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 1,061%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, denatured ethyl alcohol imports shrank remarkably to $X in 2021. Overall, imports, however, saw a strong increase. The growth pace was the most rapid in 2015 when imports increased by 615%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of denatured ethyl alcohol to Portugal, accounting for a 86% share of total imports. Moreover, denatured ethyl alcohol imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-9.1% per year) and Germany (+94.1% per year).

In value terms, Spain ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Portugal, comprising 83% of total imports. The second position in the ranking was taken by Belgium ($X), with a 7.1% share of total imports. It was followed by Germany, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-9.0% per year) and Germany (+70.9% per year).

Import Prices by Country

In 2021, the average denatured ethyl alcohol import price amounted to $X per ton, increasing by 7.5% against the previous year. In general, the import price, however, showed a slight setback. The most prominent rate of growth was recorded in 2013 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+28.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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