Vietnam: Ethanol Market 2024

Ethanol Market Size in Vietnam

The Vietnamese ethanol market stood at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption posted a noticeable increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Ethanol Production in Vietnam

In value terms, ethanol production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a mild increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Ethanol Exports

Exports from Vietnam

In 2022, shipments abroad of ethyl alcohol decreased by X% to X litres, falling for the second year in a row after two years of growth. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ethanol exports declined sharply to $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X litres), Malaysia (X litres) and Thailand (X litres) were the main destinations of ethanol exports from Vietnam, together comprising X% of total exports. Cambodia, Indonesia, South Korea, the Philippines and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, Malaysia ($X), Taiwan (Chinese) ($X) and Thailand ($X) appeared to be the largest markets for ethanol exported from Vietnam worldwide, with a combined X% share of total exports. Cambodia, Indonesia, the Philippines, South Korea and Singapore lagged somewhat behind, together comprising a further X%.

Cambodia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ethanol export price stood at $X per litre in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per litre) and Malaysia ($X per litre), while the average price for exports to South Korea ($X per litre) and Indonesia ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Vietnam

Ethanol imports into Vietnam dropped to X litres in 2022, with a decrease of X% compared with 2021 figures. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X litres in 2021, and then shrank in the following year.

In value terms, ethanol imports stood at $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X litres) constituted the largest ethanol supplier to Vietnam, with a X% share of total imports. Moreover, ethanol imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X litres), twofold.

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

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

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

Import Prices by Country

In 2022, the average ethanol import price amounted to $X per litre, increasing by X% against the previous year. Over the period under review, import price indicated a measured 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 most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual 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 the United States ($X per litre), while the price for South Africa ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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