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Store → Chemicals → Basic Chemicals → Denatured Ethyl Alcohol And Other Denatured Spirits
Report Republic of Korea - Denatured Ethyl Alcohol and Other Denatured Spirits - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update: Sep 1, 2023

Republic of Korea - Denatured Ethyl Alcohol and Other Denatured Spirits - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Denatured Ethyl Alcohol Market 2023

Denatured Ethyl Alcohol Market Size in Republic of Korea

In 2021, the South Korean denatured ethyl alcohol market increased by 24% to $X, rising for the fifth year in a row after three years of decline. Over the period under review, consumption showed a resilient increase. Denatured ethyl alcohol consumption peaked in 2021 and is likely to see steady growth in the near future.

Denatured Ethyl Alcohol Exports

Exports from Republic of Korea

In 2021, exports of denatured ethyl alcohol and other denatured spirits from South Korea contracted dramatically to X tons, shrinking by -16.5% compared with the previous year. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,043% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then reduced dramatically in the following year.

In value terms, denatured ethyl alcohol exports fell markedly to $X in 2021. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2018 when exports increased by 766%. The exports peaked at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Vietnam (X tons) was the main destination for denatured ethyl alcohol exports from South Korea, accounting for a 90% share of total exports. Moreover, denatured ethyl alcohol exports to Vietnam exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. The third position in this ranking was taken by the Philippines (X tons), with a 1.3% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam stood at +221.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-15.3% per year) and the Philippines (-8.4% per year).

In value terms, Vietnam ($X) remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from South Korea, comprising 87% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6% share of total exports. It was followed by the Philippines, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +210.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-9.3% per year) and the Philippines (-8.2% per year).

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, leveling off at the previous year. In general, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Republic of Korea

For the fifth year in a row, South Korea recorded growth in overseas purchases of denatured ethyl alcohol and other denatured spirits, which increased by 29% to X tons in 2021. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 40%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, denatured ethyl alcohol imports soared to $X in 2021. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 45% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main denatured ethyl alcohol supplier to South Korea, accounting for a 90% share of total imports. Moreover, denatured ethyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, South Africa (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +37.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+19.6% per year) and China (+114.1% per year).

In value terms, the United States ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to South Korea, comprising 90% of total imports. The second position in the ranking was taken by South Africa ($X), with a 4.1% share of total imports. It was followed by China, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+13.4% per year) and China (+104.7% per year).

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per ton in 2021, with a decrease of -8% against the previous year. Overall, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 3.6% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for denatured ethyl alcohol and other denatured spirits in the world?
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The countries with the highest volumes of consumption in 2021 were China, the United States and Canada, with a combined 39% share of global consumption. These countries were followed by India, Japan, South Korea, Pakistan, Russia, Brazil, Indonesia, Turkey, the UK and the Philippines, which together accounted for a further 28%.
What are the largest producers of denatured ethyl alcohol and other denatured spirits in the world?
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The countries with the highest volumes of production in 2021 were the United States, China and Japan, together accounting for 52% of global production. Pakistan, Russia, Brazil, Indonesia, Mexico, Spain, Ethiopia and South Africa lagged somewhat behind, together accounting for a further 20%.
What are the leading suppliers of denatured ethyl alcohol and other denatured spirits to Republic of Korea?
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In value terms, the United States constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to South Korea, comprising 90% of total imports. The second position in the ranking was held by South Africa, with a 4.1% share of total imports. It was followed by China, with a 3.5% share.
What are the leading importers of denatured ethyl alcohol and other denatured spirits from Republic of Korea?
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In value terms, Vietnam remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from South Korea, comprising 87% of total exports. The second position in the ranking was taken by Turkey, with a 6% share of total exports. It was followed by the Philippines, with a 2.4% share.
What is the average export price for denatured ethyl alcohol and other denatured spirits in Republic of Korea?
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The average denatured ethyl alcohol export price stood at $792 per ton in 2021, standing approx. at the previous year.
What is the average import price for denatured ethyl alcohol and other denatured spirits in Republic of Korea?
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The average denatured ethyl alcohol import price stood at $601 per ton in 2021, which is down by -8% against the previous year.

This report provides an in-depth analysis of the denatured ethyl alcohol market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 20147500 - Denatured ethyl alcohol and other denatured spirits, of any strength
Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS  This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

This Chapter is Available Only for the Professional Edition PRO
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

This Chapter is Available Only for the Professional Edition PRO
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

This Chapter is Available Only for the Professional Edition PRO
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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