Romania: Ethanol Market 2024

Ethanol Market Size in Romania

For the eleventh year in a row, the Romanian ethanol market recorded growth in sales value, which increased by 29% to $X in 2022. Overall, consumption saw a significant expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Ethanol Production in Romania

In value terms, ethanol production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of 124%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Ethanol Exports

Exports from Romania

After six years of decline, shipments abroad of ethyl alcohol increased by 1,205% to X litres in 2022. Overall, exports, however, showed a sharp decline. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethanol exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a dramatic curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X litres) was the main destination for ethanol exports from Romania, with a 91% share of total exports. Moreover, ethanol exports to the Netherlands exceeded the volume sent to the second major destination, the UK (X litres), more than tenfold. Germany (X litres) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to -28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+53.2% per year) and Germany (+52.7% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for ethyl alcohol exports from Romania, comprising 86% of total exports. The second position in the ranking was held by the UK ($X), with an 8.8% share of total exports. It was followed by Germany, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at -25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+55.2% per year) and Germany (+58.5% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, reducing by -50.8% against the previous year. Over the period under review, the export price, however, enjoyed a measured expansion. The growth pace was the most rapid in 2020 when the average export price increased by 257% against the previous year. The export price peaked at $X per litre in 2021, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per litre), while the average price for exports to the Netherlands ($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 Italy (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Romania

In 2022, approx. X litres of ethyl alcohol were imported into Romania; picking up by 11% against 2021 figures. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, ethanol imports soared to $X in 2022. Overall, imports saw a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 88%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Hungary (X litres) constituted the largest ethanol supplier to Romania, with a 57% share of total imports. Moreover, ethanol imports from Hungary exceeded the figures recorded by the second-largest supplier, Bulgaria (X litres), twofold. Austria (X litres) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary stood at +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+21.8% per year) and Austria (-8.9% per year).

In value terms, Hungary ($X), Bulgaria ($X) and Austria ($X) constituted the largest ethanol suppliers to Romania, with a combined 91% share of total imports.

Hungary, with a CAGR of +31.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, jumping by 19% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.0% 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 +76.9% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per litre) and Slovakia ($X per litre), while the price for Hungary ($X per litre) and Bulgaria ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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