Greece: Ethanol Market 2024

Ethanol Market Size in Greece

In 2022, the Greek ethanol market increased by X% to $X, rising for the sixth consecutive year after four years of decline. Over the period under review, consumption recorded significant growth. Ethanol consumption peaked in 2022 and is expected to retain growth in the near future.

Ethanol Production in Greece

In value terms, ethanol production fell remarkably to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Ethanol Exports

Exports from Greece

In 2022, exports of ethyl alcohol from Greece skyrocketed to X litres, with an increase of X% compared with 2021. Over the period under review, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X litres. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ethanol exports surged to $X in 2022. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cyprus (X litres) was the main destination for ethanol exports from Greece, with a X% share of total exports. Moreover, ethanol exports to Cyprus exceeded the volume sent to the second major destination, Albania (X litres), twofold. Germany (X litres) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cyprus amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (X% per year) and Germany (X% per year).

In value terms, Cyprus ($X) remains the key foreign market for ethyl alcohol exports from Greece, comprising X% of total exports. The second position in the ranking was taken by Albania ($X), with a X% share of total exports. It was followed by Georgia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (X% per year) and Georgia (X% per year).

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, picking up by X% against the previous year. Over the period under review, the export price enjoyed resilient growth. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per litre in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per litre), while the average price for exports to Albania ($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 Albania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Greece

In 2022, supplies from abroad of ethyl alcohol increased by X% to X litres, rising for the sixth year in a row after four years of decline. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, ethanol imports soared to $X in 2022. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Netherlands (X litres) constituted the largest supplier of ethanol to Greece, with a X% share of total imports. Moreover, ethanol imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the United States (X litres), twofold. Spain (X litres) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Spain (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Spain (X% per year).

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, declining by X% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per litre, and then declined remarkably in the following year.

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

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

Source: IndexBox Platform

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