Scandinavia: Ethanol Market 2024

Ethanol Market Size in Scandinavia

The Scandinavia ethanol market soared to $X in 2022, jumping by 32% against the previous year. In general, consumption recorded resilient growth. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Ethanol Production in Scandinavia

In value terms, ethanol production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 when the production volume increased by 645%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Ethanol Exports

Exports in Scandinavia

Ethanol exports amounted to X litres in 2022, flattening at 2021. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 220%. Over the period under review, the exports attained the maximum at X litres in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, ethanol exports surged to $X in 2022. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 106%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Sweden dominates exports structure, accounting for X litres, which was near 98% of total exports in 2022. Finland (X litres) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the ethyl alcohol exports, with a CAGR of +22.7% from 2012 to 2022. At the same time, Finland (+5.8%) displayed positive paces of growth. Sweden (+37 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -3.5% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest ethanol supplier in Scandinavia, comprising 97% of total exports. The second position in the ranking was taken by Finland ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to +14.0%.

Export Prices by Country

The export price in Scandinavia stood at $X per litre in 2022, surging by 15% against the previous year. Overall, the export price, however, saw a perceptible descent. The pace of growth was the most pronounced in 2021 when the export price increased by 34%. The level of export peaked at $X per litre in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per litre), while Sweden amounted to $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+6.5%).

Ethanol Imports

Imports in Scandinavia

For the fifth year in a row, Scandinavia recorded growth in overseas purchases of ethyl alcohol, which increased by 2.1% to X litres in 2022. Over the period under review, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 46%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, ethanol imports soared to $X in 2022. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Sweden represented the key importer of ethyl alcohol in Scandinavia, with the volume of imports finishing at X litres, which was approx. 68% of total imports in 2022. Finland (X litres) held the second position in the ranking, distantly followed by Norway (X litres). All these countries together held approx. 32% share of total imports.

Sweden was also the fastest-growing in terms of the ethyl alcohol imports, with a CAGR of +13.6% from 2012 to 2022. At the same time, Norway (+10.5%) and Finland (+4.9%) displayed positive paces of growth. From 2012 to 2022, the share of Sweden increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported ethyl alcohol in Scandinavia, comprising 66% of total imports. The second position in the ranking was taken by Finland ($X), with a 26% share of total imports.

In Sweden, ethanol imports increased at an average annual rate of +13.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+9.2% per year) and Norway (+12.6% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per litre, rising by 40% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% 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 +62.2% against 2020 indices. Over the period under review, import prices hit record highs at $X per litre in 2014; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per litre), while Norway ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform