Ethyl alcohol market in ASEAN

Earlier Report Observations

The ASEAN ethyl alcohol market began the period at 2 275 million liters in 2018, driven by notable growth in regional demand and a 62% increase in imports compared to the previous year. By 2020, however, market volume had fallen sharply to 1 441 million liters, as rising import prices in Asian markets reduced consumption and import activity.

A rebound occurred in 2021, with the market expanding to 1 562 million liters, fueled by renewed international purchases after two years of decline. The market then stabilized around 1 535 million liters in 2022, before dipping to 1 487 million liters in 2023. During this time, global suppliers formed strategic alliances to develop renewable chemicals based on ethyl alcohol, reflecting a broader industry shift toward innovation and sustainability.

In 2024, factors indicated continued growth in production and consumption across Asia, alongside regulatory changes and sustainability policies that further influenced the market environment.

Production ethyl alcohol in ASEAN

In kind, 2017-2020, M l

Top producers of ethyl alcohol, 2017-2020

World map of production of ethyl alcohol, 2017-2020

ASEAN's ethyl alcohol production has declined for the second year in a row. In 2020, the region produced 1 085 million liters, which represents a significant 37.8% drop from 2019. Looking at the period from 2017 to 2020, production fell by 37.8%, with an average annual decline of 14.7%. The peak was in 2018, when output reached 1 846 million liters, marking the largest increase of 5.7% during this timeframe.

Annual dynamics of production in ASEAN in kind, 2017-2020, M l

Exports ethyl alcohol from ASEAN

Exports in kind, M l

In 2020, ASEAN's ethyl alcohol exports amounted to 92.4 million liters, showing a modest 9.7% increase compared to 2019. Over the 2017-2020 period, exports decreased by 45.5%, with an average annual decline of 18.3%. The lowest point was in 2019 at 84.2 million liters, while the highest was in 2018 at 228.8 million liters. The largest drop occurred in 2019 with a 63.2% decrease, and the biggest rise was in 2018 with a 35.0% increase.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, M l

From 2017 to 2020, ASEAN's export structure in volume terms was quite diversified. South Korea accounted for 11.6% of exports, China for 8.6%, and Oman for 3.4%, together making up just 23.7% of total flows. No single country held a clearly dominant position in the market.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ASEAN in kind, 2017-2020

Exports in value, M $ US

In 2020, ASEAN's ethyl alcohol exports in value terms reached 94.4 million US dollars, reflecting a slight 0.7% year-on-year improvement. Between 2017 and 2020, exports decreased by 25.4%, with an average annual decline of 9.3%. The minimum value was recorded in 2019 at 93.7 million US dollars, while the maximum was in 2018 at 168.9 million US dollars. The largest decline occurred in 2019 with a 44.5% drop, and the largest increase was in 2018 with a 33.5% rise.

Annual dynamics of product's exports from ASEAN in value, 2017-2020, M $ US

Over the 2017-2020 period, the country breakdown of ASEAN's exports in value terms remained scattered. South Korea represented 11.1% of exports, China 7.4%, and Japan 2.9%, together accounting for just 21.3% of total flows. No trading partner stood out as clearly dominant in this segment.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ASEAN in value, 2017-2020

Imports ethyl alcohol to ASEAN

Imports in kind, M l

ASEAN's ethyl alcohol imports have declined for the second consecutive year. In 2020, imports totaled 448.3 million liters, representing a small 1.9% decrease from 2019. Over the 2017-2020 period, imports fell by 18.4%, with an average annual decline of 6.5%. The peak was in 2018 at 574.7 million liters, with the largest increase of 4.7% that year. The largest decline occurred in 2019 with a 20.5% drop.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, M l

From 2017 to 2020, the United States remained the top supplier of ethyl alcohol to ASEAN, accounting for 49.1% of imports in volume terms. Pakistan followed with 10.8%, and South Africa with 5.3%. Together, these three countries represented 65.2% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ASEAN in kind, 2017-2020

Imports in value, M $ US

In 2020, ASEAN's ethyl alcohol imports in value terms reached 440.2 million US dollars, reflecting a substantial 20.8% increase compared to the previous year. Between 2017 and 2020, imports grew by 13.6%, with an average annual increase of 4.3%. The minimum value was recorded in 2019 at 364.3 million US dollars, while the maximum was in 2018 at 472.3 million US dollars. The largest decline occurred in 2019 with a 22.9% drop, and the largest increase was in 2018 with a 21.9% rise.

Annual dynamics of product's imports to ASEAN in value, 2017-2020, M $ US

Throughout 2017-2020, the United States continued to be the key partner for ASEAN's ethyl alcohol imports in value terms, accounting for 46.2% of the total. Pakistan followed with 11.2%, and South Africa with 5.0%. Together, these three partners represented 62.3% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ASEAN in value, 2017-2020