In 2022, the South Korean ethanol market increased by X% to $X, rising for the third year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Ethanol consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.
In value terms, ethanol production fell to $X in 2022 estimated in export price. Over the period under review, production faced a deep setback. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.
In 2022, approx. X litres of ethyl alcohol were exported from South Korea; growing by X% against 2021 figures. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
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In value terms, ethanol exports soared to $X in 2022. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
Japan (X litres), Vietnam (X litres) and the Philippines (X litres) were the main destinations of ethanol exports from South Korea, with a combined X% share of total exports.
From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
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In value terms, the largest markets for ethanol exported from South Korea were Japan ($X), Vietnam ($X) and the Philippines ($X), together comprising X% of total exports.
Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
In 2022, the average ethanol export price amounted to $X per litre, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per litre in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
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Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($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 the Philippines (X%), while the prices for the other major destinations experienced a decline.
In 2022, approx. X litres of ethyl alcohol were imported into South Korea; surging by X% compared with the year before. Over the period under review, imports showed buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X litres. From 2021 to 2022, the growth of imports remained at a lower figure.
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In value terms, ethanol imports skyrocketed to $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.
In 2022, the United States (X litres) constituted the largest ethanol supplier to South Korea, with a X% share of total imports. Moreover, ethanol imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X litres), threefold. The third position in this ranking was taken by Pakistan (X litres), with a X% share.
From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Pakistan (X% per year).
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In value terms, the United States ($X) constituted the largest supplier of ethyl alcohol to South Korea, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.
From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and South Africa (X% per year).
In 2022, the average ethanol import price amounted to $X per litre, with an increase of X% against the previous year. In general, the import price continues to indicate a modest increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
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There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($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 Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.
The countries with the highest volumes of consumption in 2023 were Brazil, the United States and China, with a combined 61% share of global consumption. Indonesia, India, Pakistan, Canada and Germany lagged somewhat behind, together accounting for a further 10%.
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The countries with the highest volumes of production in 2022 were Brazil, the United States and China, with a combined 68% share of global production. Indonesia, Pakistan and India lagged somewhat behind, together accounting for a further 7.4%.
In value terms, the United States constituted the largest supplier of ethyl alcohol to South Korea, comprising 75% of total imports. The second position in the ranking was held by Brazil, with a 20% share of total imports. It was followed by South Africa, with a 2.1% share.
In value terms, the largest markets for ethanol exported from South Korea were Japan, Vietnam and the Philippines, with a combined 96% share of total exports.
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This report provides an in-depth analysis of the ethanol 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.
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.
Asia - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights $599 Mar 1, 2024 703 This report provides an in-depth analysis of the ethanol market in Asia. U.S. - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights $599 Mar 1, 2024 2252 This report provides an in-depth analysis of the ethanol market in the U.S.. China - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights $599 Mar 1, 2024 676 This report provides an in-depth analysis of the ethanol market in China. EU - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights $599 Mar 1, 2024 1208 This report provides an in-depth analysis of the ethanol market in the EU. World - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights $599 Mar 1, 2024 4590 This report provides an in-depth analysis of the global ethanol market.The U.S. Council has promoted U.S. ethanol exports in South Korea since 2016, focusing primarily on educating Korean buyers about the availability and pricing of U.S. ethanol, in addition to introducing buyers to U.S. suppliers and visiting export hubs. Council programming included welcoming buyer teams to the United States, participation in the Global Ethanol Summit and Asia-Pacific Ethanol Summit, hosting buyers in ethanol procurement courses, and facilitating business-to-business meetings.
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As part of a cross-organization effort with the Council’s Southeast Asia regional office, the Korean office has promoted the importance of Korean ports as a transshipment market for U.S. ethanol to other key Asian markets. Facilitating an engagement with other Asian buyers and stakeholders has been a key part of the Council’s strategy, including providing market and
Policy information to stakeholders in the Philippines, Vietnam, and Indonesia and arranging meetings with local buyers to significantly expand ethanol transshipment exports through the Ulsan Port.
South Korea imported 137.4 million gallons of U.S. ethanol valued at $520 million in the marketing year 2020/2021. This was a growth of 90.1 million gallons on an annual
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