Spain: Ethanol Market 2024

Ethanol Market Size in Spain

The Spanish ethanol market rose sharply to $X in 2022, increasing by 13% against the previous year. Over the period under review, consumption, however, showed a mild reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ethanol Production in Spain

In value terms, ethanol production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 18% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethanol Exports

Exports from Spain

In 2022, overseas shipments of ethyl alcohol decreased by -1.8% to X litres for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 76% against the previous year. Over the period under review, the exports attained the peak figure at X litres in 2021, and then dropped modestly in the following year.

In value terms, ethanol exports soared to $X in 2022. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X litres) was the main destination for ethanol exports from Spain, with a 50% share of total exports. Moreover, ethanol exports to France exceeded the volume sent to the second major destination, Portugal (X litres), twofold. The third position in this ranking was taken by Greece (X litres), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+21.6% per year) and Greece (+116.8% per year).

In value terms, France ($X) remains the key foreign market for ethyl alcohol exports from Spain, comprising 51% of total exports. The second position in the ranking was held by Portugal ($X), with a 25% share of total exports. It was followed by Greece, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to France totaled +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+18.5% per year) and Greece (+92.1% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, increasing by 19% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 increased by +73.9% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 20%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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 the UK ($X per litre), while the average price for exports to Sweden ($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 Finland (+38.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Spain

In 2022, approx. X litres of ethyl alcohol were imported into Spain; rising by 38% compared with 2021 figures. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume 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, imports increased by +69.3% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethanol imports soared to $X in 2022. Over the period under review, imports saw a notable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 63%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Pakistan (X litres) constituted the largest supplier of ethanol to Spain, with a 62% share of total imports. Moreover, ethanol imports from Pakistan exceeded the figures recorded by the second-largest supplier, France (X litres), threefold. Belgium (X litres) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Pakistan amounted to +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-5.7% per year) and Belgium (-0.8% per year).

In value terms, Pakistan ($X) constituted the largest supplier of ethyl alcohol to Spain, comprising 54% of total imports. The second position in the ranking was taken by France ($X), with a 23% share of total imports. It was followed by Belgium, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.1% per year) and Belgium (+1.1% per year).

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, approximately reflecting the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 19%. The import price peaked at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per litre), while the price for Pakistan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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