Turkey: Ethanol Market 2024

Ethanol Market Size in Turkey

The Turkish ethanol market reduced to $X in 2022, shrinking by -13.2% against the previous year. Over the period under review, consumption, however, showed perceptible growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Ethanol Production in Turkey

In value terms, ethanol production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 52%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Ethanol Exports

Exports from Turkey

Ethanol exports from Turkey fell to X litres in 2022, declining by -12.7% against the previous year's figure. In general, exports saw a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 211%. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ethanol exports shrank to $X in 2022. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 191%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Latvia (X litres) was the main destination for ethanol exports from Turkey, with a 48% share of total exports. Moreover, ethanol exports to Latvia exceeded the volume sent to the second major destination, Greece (X litres), fivefold. Bulgaria (X litres) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-8.9% per year) and Bulgaria (+51.7% per year).

In value terms, Latvia ($X) emerged as the key foreign market for ethyl alcohol exports from Turkey, comprising 47% of total exports. The second position in the ranking was held by Iraq ($X), with an 8.2% share of total exports. It was followed by Greece, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Latvia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+31.2% per year) and Greece (-11.9% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, with an increase of 4.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 25%. As a result, the export price attained the peak level of $X per litre. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per litre), while the average price for exports to Bulgaria ($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 Free Zones (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Turkey

Ethanol imports into Turkey shrank notably to X litres in 2022, waning by -24.9% against the previous year's figure. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 139%. As a result, imports reached the peak of X litres. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, ethanol imports declined to $X in 2022. Overall, imports, however, showed a notable increase. The pace of growth was the most pronounced in 2020 with an increase of 241%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Russia (X litres) constituted the largest ethanol supplier to Turkey, accounting for a 40% share of total imports. Moreover, ethanol imports from Russia exceeded the figures recorded by the second-largest supplier, Brazil (X litres), twofold. The third position in this ranking was taken by Pakistan (X litres), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+25.6% per year) and Pakistan (-9.1% per year).

In value terms, Russia ($X) constituted the largest supplier of ethyl alcohol to Turkey, comprising 39% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports. It was followed by Pakistan, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia totaled +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+26.0% per year) and Pakistan (-9.6% per year).

Import Prices by Country

The average ethanol import price stood at $X per litre in 2022, growing by 16% against the previous year. In general, the import price, however, saw a mild curtailment. The pace of growth appeared the most rapid in 2020 an increase of 43%. The import price peaked at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bulgaria ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+13.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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