Republic of Korea: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Republic of Korea

The South Korean denatured ethyl alcohol market soared to $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Denatured ethyl alcohol consumption peaked in 2022 and is expected to retain growth in the near future.

Denatured Ethyl Alcohol Production in Republic of Korea

In value terms, denatured ethyl alcohol production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. Denatured ethyl alcohol production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Denatured Ethyl Alcohol Exports

Exports from Republic of Korea

Denatured ethyl alcohol exports from South Korea declined to X litres in 2022, waning by X% compared with 2021. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded 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, denatured ethyl alcohol exports expanded markedly to $X in 2022. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X litres) was the main destination for denatured ethyl alcohol exports from South Korea, with a X% share of total exports. Moreover, denatured ethyl alcohol exports to Vietnam exceeded the volume sent to the second major destination, the Philippines (X litres), sixfold. Taiwan (Chinese) (X litres) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per litre in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per litre) and the Philippines ($X per litre), while the average price for exports to Taiwan (Chinese) ($X per litre) and Japan ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Republic of Korea

In 2022, the amount of denatured ethyl alcohol and other denatured spirits imported into South Korea rose slightly to X litres, with an increase of X% compared with 2021 figures. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, denatured ethyl alcohol imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the United States (X litres) was the main supplier of denatured ethyl alcohol to South Korea, with a X% share of total imports. It was followed by South Africa (X litres), with a X% share of total imports.

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

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

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

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per litre in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a tangible increase 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, denatured ethyl alcohol import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per litre), while the price for Pakistan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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