U.S.: Ethanol Market 2024

Ethanol Market Size in the U.S.

In 2022, the U.S. ethanol market decreased by -3.2% to $X, falling for the second consecutive year after four years of growth. Overall, consumption showed a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of 4.3%. Ethanol consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Ethanol Production in the U.S.

In value terms, ethanol production declined slightly to $X in 2022. In general, production recorded a slight downturn. The pace of growth was the most pronounced in 2017 when the production volume increased by 11%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Ethanol Exports

Exports from the U.S.

In 2022, shipments abroad of ethyl alcohol increased by 11% to X litres for the first time since 2018, thus ending a three-year declining trend. Overall, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 53%. The exports peaked at X litres in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, ethanol exports surged to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.4% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X litres) was the main destination for ethanol exports from the United States, with a 44% share of total exports. Moreover, ethanol exports to Canada exceeded the volume sent to the second major destination, South Korea (X litres), fourfold. The Netherlands (X litres) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+37.2% per year) and the Netherlands (+10.5% per year).

In value terms, Canada ($X) remains the key foreign market for ethyl alcohol exports from the United States, comprising 49% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.4% share of total exports. It was followed by the Netherlands, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+31.9% per year) and the Netherlands (+6.8% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, picking up by 20% against the previous year. Over the period under review, the export price, however, showed a slight reduction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per litre), while the average price for exports to the Philippines ($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 Peru (-0.1%), while the prices for the other major destinations experienced a decline.

Ethanol Imports

Imports into the U.S.

After two years of decline, purchases abroad of ethyl alcohol increased by 21% to X litres in 2022. Over the period under review, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at X litres in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ethanol imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X litres) constituted the largest supplier of ethanol to the United States, with a 64% share of total imports. Moreover, ethanol imports from Brazil exceeded the figures recorded by the second-largest supplier, Canada (X litres), fourfold. Guatemala (X litres) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+15.2% per year) and Guatemala (+11.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of ethyl alcohol to the United States, comprising 58% of total imports. The second position in the ranking was taken by Canada ($X), with a 29% share of total imports. It was followed by Guatemala, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+18.7% per year) and Guatemala (+1.5% per year).

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, rising by 8.6% against the previous year. In general, the import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. Over the period under review, average import prices reached the peak figure at $X per litre in 2013; however, from 2014 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 Canada ($X per litre), while the price for Guatemala ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :