Singapore: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Singapore

In 2021, the Singaporean denatured ethyl alcohol market increased by 115% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed tangible growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Denatured Ethyl Alcohol Production in Singapore

In value terms, denatured ethyl alcohol production surged to $X in 2021 estimated in export price. In general, production, however, faced a abrupt contraction. Denatured ethyl alcohol production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Denatured Ethyl Alcohol Exports

Exports from Singapore

In 2021, the amount of denatured ethyl alcohol and other denatured spirits exported from Singapore skyrocketed to X tons, increasing by 134% compared with the previous year. Overall, exports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2019 when exports increased by 525%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, denatured ethyl alcohol exports skyrocketed to $X in 2021. In general, exports, however, saw a noticeable decline. The pace of growth was the most pronounced in 2019 with an increase of 422% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), India (X tons) and Vietnam (X tons) were the main destinations of denatured ethyl alcohol exports from Singapore, together accounting for 98% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +432.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for denatured ethyl alcohol exported from Singapore were the Philippines ($X), Vietnam ($X) and India ($X), together comprising 97% of total exports.

In terms of the main countries of destination, India, with a CAGR of +357.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 Malaysia (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Denatured Ethyl Alcohol Imports

Imports into Singapore

In 2021, denatured ethyl alcohol imports into Singapore surged to X tons, with an increase of 149% compared with the previous year's figure. Overall, imports showed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 279% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, denatured ethyl alcohol imports surged to $X in 2021. Over the period under review, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of denatured ethyl alcohol to Singapore, with a 78% share of total imports. Moreover, denatured ethyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, South Africa (X tons), eightfold. The third position in this ranking was taken by Vietnam (X tons), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +65.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+5.7% per year) and Vietnam (+27.5% per year).

In value terms, the United States ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Singapore, comprising 72% of total imports. The second position in the ranking was taken by South Africa ($X), with a 9.2% share of total imports. It was followed by Japan, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +57.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+1.2% per year) and Japan (+12.0% per year).

Import Prices by Country

In 2021, the average denatured ethyl alcohol import price amounted to $X per ton, surging by 9.2% against the previous year. In general, the import price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 45% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :