South-Eastern Asia: Ethanol Market 2024

Ethanol Market Size in South-Eastern Asia

The Southeast Asian ethanol market rose significantly to $X in 2022, with an increase of 12% against the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +85.3% against 2016 indices. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Ethanol Production in South-Eastern Asia

In value terms, ethanol production expanded sharply to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 26%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ethanol Exports

Exports in South-Eastern Asia

In 2022, approx. X litres of ethyl alcohol were exported in South-Eastern Asia; declining by -32.6% compared with 2021 figures. Over the period under review, exports showed a deep reduction. The pace of growth was the most pronounced in 2018 when exports increased by 60% against the previous year. The volume of export peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ethanol exports dropped remarkably to $X in 2022. In general, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of ethyl alcohol, namely Indonesia, Vietnam and Singapore, represented more than two-thirds of total export. It was distantly followed by Thailand (X litres) and Cambodia (X litres), together constituting a 14% share of total exports. Myanmar (X litres) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of +180.8%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest ethanol supplying countries in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and Singapore ($X), with a combined 83% share of total exports. Thailand, Cambodia and Myanmar lagged somewhat behind, together comprising a further 16%.

Myanmar, with a CAGR of +172.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per litre in 2022, picking up by 2.9% against the previous year. Overall, the export price, however, saw a mild descent. The most prominent rate of growth was recorded in 2020 an increase of 31%. Over the period under review, the export prices attained the peak figure at $X per litre in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per litre), while Myanmar ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Ethanol Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of ethyl alcohol increased by 15% to X litres, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.7% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, ethanol imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines represented the largest importing country with an import of around X litres, which accounted for 60% of total imports. It was distantly followed by Singapore (X litres) and Thailand (X litres), together comprising a 34% share of total imports. The following importers - Malaysia (X litres) and Indonesia (X litres) - together made up 5.5% of total imports.

Imports into the Philippines increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Indonesia (+62.6%), Singapore (+15.3%) and Malaysia (+4.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +62.6% from 2012-2022. Thailand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Singapore and Indonesia increased by +16 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported ethyl alcohol in South-Eastern Asia, comprising 59% of total imports. The second position in the ranking was taken by Singapore ($X), with a 29% share of total imports. It was followed by Thailand, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines totaled +5.5%. In the other countries, the average annual rates were as follows: Singapore (+16.7% per year) and Thailand (+1.6% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per litre, jumping by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2020 an increase of 23%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Thailand ($X per litre) and Singapore ($X per litre), while Indonesia ($X per litre) and Malaysia ($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 Philippines (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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