Thailand: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Thailand

The Thai denatured ethyl alcohol market shrank to $X in 2021, dropping by -5.6% against the previous year. Overall, consumption saw a slight slump. Denatured ethyl alcohol consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Denatured Ethyl Alcohol Production in Thailand

In value terms, denatured ethyl alcohol production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible setback. The pace of growth was the most pronounced in 2020 with an increase of 22%. Denatured ethyl alcohol production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Denatured Ethyl Alcohol Exports

Exports from Thailand

In 2021, after two years of growth, there was significant decline in overseas shipments of denatured ethyl alcohol and other denatured spirits, when their volume decreased by -81.5% to X tons. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 318%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, denatured ethyl alcohol exports declined significantly to $X in 2021. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2020 with an increase of 111% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for denatured ethyl alcohol exports from Thailand, accounting for a 72% share of total exports. Moreover, denatured ethyl alcohol exports to the Philippines exceeded the volume sent to the second major destination, Indonesia (X tons), sevenfold. The third position in this ranking was taken by Vietnam (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines amounted to +204.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+144.3% per year) and Vietnam (+116.0% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Thailand, comprising 54% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines stood at +204.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+166.6% per year) and Vietnam (+125.7% per year).

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, declining by -3.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 135% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to South Korea ($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 Myanmar (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Thailand

In 2021, supplies from abroad of denatured ethyl alcohol and other denatured spirits increased by 6.4% to X tons, rising for the third year in a row after two years of decline. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.0% against 2018 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 42%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, denatured ethyl alcohol imports reduced to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest denatured ethyl alcohol supplier to Thailand, with a 56% share of total imports. Moreover, denatured ethyl alcohol imports from Pakistan exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Pakistan totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+45.8% per year) and South Africa (-2.8% per year).

In value terms, Pakistan ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Thailand, comprising 51% of total imports. The second position in the ranking was held by Australia ($X), with a 25% share of total imports. It was followed by South Africa, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Pakistan stood at +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+41.1% per year) and South Africa (-4.1% per year).

Import Prices by Country

In 2021, the average denatured ethyl alcohol import price amounted to $X per ton, which is down by -8.3% against the previous year. Overall, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2020 an increase of 14%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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