In terms of volume, Belgium's import of undenatured ethyl alcohol stood at 175.44 million kilograms in 2023. From 2013 to 2015, there was a noticeable decline, culminating in a steep drop of 23.24% in 2015. However, the import volumes saw a significant recovery in 2016 with a 73.69% increase. This resurgence continued up to 2018 with a year-on-year increase of 15.89%, maintaining higher levels through 2019 despite a slight dip of 3.08%. There was a significant reduction by 14.76% in 2020, followed by a 17.4% rise in 2021. The trend showed continued growth into 2022 and 2023 compared to previous years, with year-on-year increases of 7.85% and 2.35%, respectively. The compound annual growth rate (CAGR) for the past five years is 1.38%.
Looking forward from 2024 and beyond, a 5-year forecasted CAGR of 1.8% suggests moderate and steady growth in import volumes, with an expected increase of 9.34% by 2028. Future trends to watch for include potential shifts in international trade policies, supply chain disruptions, and evolving demand for undenatured ethyl alcohol in various sectors such as healthcare and energy.
