Global Ethanol Market 2024

Ethanol Market Size

In 2022, the global ethanol market increased by 3.1% to $X, rising for the sixth consecutive year after three years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Ethanol Production

In value terms, ethanol production reached $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 10%. Over the period under review, global production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ethanol Exports

Exports

Global ethanol exports rose remarkably to X litres in 2022, increasing by 8.7% against 2021 figures. Overall, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 28%. The global exports peaked at X litres in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, ethanol exports soared to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +99.8% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States represented the major exporting country with an export of about X litres, which resulted at 41% of total exports. Brazil (X litres) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (10%) and Pakistan (5.1%). The following exporters - Hungary (X litres), France (X litres), Belgium (X litres), Germany (X litres), Spain (X litres) and South Africa (X litres) - together made up 16% of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethanol exports from the United States stood at +8.2%. At the same time, Pakistan (+15.2%), the Netherlands (+10.4%), Hungary (+9.8%), Spain (+7.7%), Germany (+7.5%), South Africa (+5.2%) and Belgium (+3.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +15.2% from 2012-2022. By contrast, Brazil (-2.2%) and France (-4.9%) illustrated a downward trend over the same period. While the share of the United States (+12 p.p.), the Netherlands (+4.3 p.p.) and Pakistan (+3.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of France (-5.1 p.p.) and Brazil (-10.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest ethanol supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of global exports. It was followed by Brazil, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +6.2%. In the other countries, the average annual rates were as follows: the Netherlands (+12.1% per year) and Brazil (-2.1% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, jumping by 20% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The global export price peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per litre), while Pakistan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.0%), while the other global leaders experienced more modest paces of growth.

Ethanol Imports

Imports

Global ethanol imports was estimated at X litres in 2022, remaining stable against the year before. Over the period under review, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +1.0% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 26% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, ethanol imports soared to $X in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +107.9% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X litres) and Canada (X litres) were the largest importers of ethyl alcohol in 2022, recording approx. 12% and 12% of total imports, respectively. It was followed by Germany (X litres), South Korea (X litres), the UK (X litres) and Japan (X litres), together comprising a 26% share of total imports. France (X litres), the United States (X litres), the Philippines (X litres), India (X litres), China (X litres), Sweden (X litres) and Colombia (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +31.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest ethanol importing markets worldwide were Canada ($X), the Netherlands ($X) and Germany ($X), with a combined 36% share of global imports. China, the UK, France, South Korea, Japan, the United States, the Philippines, Sweden, India and Colombia lagged somewhat behind, together comprising a further 37%.

China, with a CAGR of +48.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average ethanol import price stood at $X per litre in 2022, growing by 33% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanol import price increased by +66.0% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per litre), while Colombia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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