Global Alcohols Market Overview
In value terms, alcohols production dropped significantly to $ in 2019 estimated in export prices. Overall, production, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of % against the previous year. Over the period under review, global production hit record highs at $ in 2008; however, from 2009 to 2019, production remained at a lower figure.
The countries with the highest volumes of alcohols production in 2019 were the U.S. ( tonnes), Saudi Arabia ( tonnes) and Iran ( tonnes), with a combined % share of global production. Russia, Trinidad and Tobago, Canada, Oman, Malaysia, the Netherlands, Venezuela, Germany, Egypt and Indonesia lagged somewhat behind, together comprising a further %.
From 2007 to 2019, the biggest increases were in Oman, while alcohols production for the other global leaders experienced more modest paces of growth.
The global alcohols market revenue contracted to $ in 2019, falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of % y-o-y. Global consumption peaked at $ in 2018, and then dropped in the following year.
From 2007 to 2019, the average annual rate of growth in terms of volume in China totaled +%. In the other countries, the average annual rates were as follows: the U.S. (+% per year) and India (+% per year).
In value terms, China ($) led the market, alone. The second position in the ranking was occupied by the U.S. ($). It was followed by India.
In China, the alcohols market expanded at an average annual rate of +% over the period from 2007-2019. The remaining consuming countries recorded the following average annual rates of market growth: the U.S. (+% per year) and India (+% per year).
In 2019, the highest levels of alcohols per capita consumption was registered in Belgium ( kg per person), followed by South Korea ( kg per person), Spain ( kg per person) and the U.S. ( kg per person), while the world average per capita consumption of alcohols was estimated at kg per person.
In Belgium, alcohols per capita consumption expanded at an average annual rate of +% over the period from 2007-2019. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (+% per year) and Spain (+% per year).