Vietnam: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Vietnam

The Vietnamese denatured ethyl alcohol market declined to $X in 2021, with a decrease of -14% against the previous year. Over the period under review, consumption saw a deep 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 Vietnam

In value terms, denatured ethyl alcohol production shrank significantly to $X in 2021 estimated in export price. Overall, production continues to indicate a deep downturn. The growth pace was the most rapid in 2020 when the production volume increased by 44%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Denatured Ethyl Alcohol Exports

Exports from Vietnam

In 2021, shipments abroad of denatured ethyl alcohol and other denatured spirits decreased by -13.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports saw a deep reduction. The growth pace was the most rapid in 2020 when exports increased by 33%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, denatured ethyl alcohol exports declined markedly to $X in 2021. Over the period under review, exports recorded a deep slump. The growth pace was the most rapid in 2020 with an increase of 61%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main destinations of denatured ethyl alcohol exports from Vietnam, together comprising 88% of total exports. Bangladesh, Lao People's Democratic Republic, Singapore and the Philippines lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +20.8%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for denatured ethyl alcohol exported from Vietnam were Malaysia ($X), Taiwan (Chinese) ($X) and Thailand ($X), together comprising 88% of total exports. These countries were followed by Bangladesh, Lao People's Democratic Republic, Singapore and the Philippines, which together accounted for a further 10%.

Bangladesh, with a CAGR of +21.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, waning by -8.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2020 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied noticeably for the major export markets. In 2021, the highest price was recorded for prices to the Philippines ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Singapore ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Vietnam

For the fifth consecutive year, Vietnam recorded decline in overseas purchases of denatured ethyl alcohol and other denatured spirits, which decreased by -11.4% to X tons in 2021. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2013 when imports increased by 167% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, denatured ethyl alcohol imports reduced to $X in 2021. In general, imports faced a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 217%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest denatured ethyl alcohol supplier to Vietnam, accounting for a 61% share of total imports. Moreover, denatured ethyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by Singapore (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +92.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.8% per year) and Singapore (+64.1% per year).

In value terms, the United States ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Vietnam, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with a 24% share of total imports. It was followed by Singapore, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +86.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+9.0% per year) and Singapore (+60.9% per year).

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2013 when the average import price increased by 19%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were South Africa ($X per ton) and Indonesia ($X per ton), while the price for Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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