Thailand: Ethanol Market 2024

Ethanol Market Size in Thailand

The Thai ethanol market expanded rapidly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption saw a prominent increase. Ethanol consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Ethanol Production in Thailand

In value terms, ethanol production rose significantly to $X in 2022 estimated in export price. In general, the total production indicated a measured expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Ethanol Exports

Exports from Thailand

For the fourth consecutive year, Thailand recorded decline in overseas shipments of ethyl alcohol, which decreased by X% to X litres in 2022. In general, exports continue to indicate a significant decline. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X litres in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethanol exports reduced notably to $X in 2022. Overall, exports recorded a sharp downturn. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X litres) was the main destination for ethanol exports from Thailand, accounting for a X% share of total exports. Moreover, ethanol exports to the Philippines exceeded the volume sent to the second major destination, Malaysia (X litres), fourfold. The third position in this ranking was taken by Japan (X litres), with a X% share.

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

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

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

Export Prices by Country

In 2022, the average ethanol export price amounted to $X per litre, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2021, and then fell in the following year.

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

Ethanol Imports

Imports into Thailand

In 2022, purchases abroad of ethyl alcohol decreased by X% to X litres, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X litres. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, ethanol imports shrank rapidly to $X in 2022. In general, total imports indicated slight growth from 2012 to 2022: its value 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Pakistan (X litres), South Africa (X litres) and Australia (X litres) were the main suppliers of ethanol imports to Thailand, with a combined X% share of total imports. Indonesia, Myanmar, Vietnam and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest ethanol suppliers to Thailand were Pakistan ($X), South Africa ($X) and Australia ($X), with a combined X% share of total imports. Indonesia, Myanmar, Vietnam and the UK lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other 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 X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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