Portugal: Ethanol Market 2024

Ethanol Market Size in Portugal

The Portuguese ethanol market soared to $X in 2022, rising by 55% against the previous year. In general, consumption saw buoyant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Ethanol Production in Portugal

In value terms, ethanol production soared to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 200%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Ethanol Exports

Exports from Portugal

For the third year in a row, Portugal recorded growth in shipments abroad of ethyl alcohol, which increased by 11% to X litres in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by 97%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, ethanol exports rose rapidly to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 72%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Spain (X litres) was the main destination for ethanol exports from Portugal, accounting for a 92% share of total exports. It was followed by Ireland (X litres), with a 2.7% share of total exports. Angola (X litres) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+134.6% per year) and Angola (-11.0% per year).

In value terms, Spain ($X) remains the key foreign market for ethyl alcohol exports from Portugal, comprising 88% of total exports. The second position in the ranking was taken by Angola ($X), with a 4.5% share of total exports. It was followed by Ireland, with a 3% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-7.0% per year) and Ireland (+127.9% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, dropping by -2.6% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanol export price decreased by -15.2% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 73%. As a result, the export price reached the peak level of $X per litre. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per litre), while the average price for exports to Spain ($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 Guinea-Bissau (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Portugal

In 2022, approx. X litres of ethyl alcohol were imported into Portugal; surging by 41% against the previous year. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 186% against the previous year. Imports peaked at X litres in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, ethanol imports soared to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2020 when imports increased by 98%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X litres) constituted the largest supplier of ethanol to Portugal, with a 84% share of total imports. Moreover, ethanol imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X litres), more than tenfold. The third position in this ranking was held by France (X litres), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-5.9% per year) and France (-0.2% per year).

In value terms, Spain ($X) constituted the largest supplier of ethyl alcohol to Portugal, comprising 82% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 5.5% share of total imports. It was followed by France, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.1% per year) and France (+0.9% per year).

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, rising by 14% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 33% against the previous year. The import price peaked at $X per litre in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per litre) and France ($X per litre), while the price for the Netherlands ($X per litre) and Spain ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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