Turkey: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Turkey

In 2021, the Turkish denatured ethyl alcohol market decreased by -8.4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Denatured Ethyl Alcohol Production in Turkey

In value terms, denatured ethyl alcohol production expanded markedly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 14%. Denatured ethyl alcohol production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Denatured Ethyl Alcohol Exports

Exports from Turkey

Denatured ethyl alcohol exports from Turkey soared to X tons in 2021, picking up by 2,059% on the previous year's figure. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 3,369% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, denatured ethyl alcohol exports skyrocketed to $X in 2021. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,459% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Egypt (X tons) was the main destination for denatured ethyl alcohol exports from Turkey, accounting for a 84% share of total exports. Moreover, denatured ethyl alcohol exports to Egypt exceeded the volume sent to the second major destination, Russia (X tons), more than tenfold. The third position in this ranking was taken by Iraq (X tons), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +272.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and Iraq (+47.5% per year).

In value terms, Egypt ($X) emerged as the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Turkey, comprising 80% of total exports. The second position in the ranking was held by Russia ($X), with a 7.9% share of total exports. It was followed by Iraq, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value to Egypt stood at +274.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and Iraq (+41.3% per year).

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, declining by -55.1% against the previous year. Over the period under review, the export price recorded a abrupt setback. The pace of growth was the most pronounced in 2020 an increase of 183%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Syrian Arab Republic ($X per ton), while the average price for exports to Egypt ($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 Egypt (+0.5%), while the prices for the other major destinations experienced a decline.

Denatured Ethyl Alcohol Imports

Imports into Turkey

In 2021, approx. X tons of denatured ethyl alcohol and other denatured spirits were imported into Turkey; surging by 4.9% on the previous year's figure. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 157%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, denatured ethyl alcohol imports declined to $X in 2021. Over the period under review, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 264%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Brazil (X tons), South Africa (X tons) and Russia (X tons) were the main suppliers of denatured ethyl alcohol imports to Turkey, with a combined 62% share of total imports. These countries were followed by the United States, Bulgaria, Moldova, Pakistan, China and Iran, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +174.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest denatured ethyl alcohol suppliers to Turkey were Brazil ($X), South Africa ($X) and Russia ($X), with a combined 61% share of total imports. These countries were followed by Bulgaria, the United States, Moldova, Pakistan, China and Iran, which together accounted for a further 39%.

The United States, with a CAGR of +160.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average denatured ethyl alcohol import price amounted to $X per ton, falling by -18.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2020 an increase of 42% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Pakistan ($X per ton) and Iran ($X per ton), while the price for the United States ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Moldova (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :