1、 2566CoverTHAILAND INDUSTRY OUTLOOK 2024-26EthanolKrungsri ResearchApril 2024Subscribe UsAll material presented in this report,unless specifically indicated otherwise,is under copyright to Krungsri Research.None of the material,nor its content,nor any copy of it,may be altered in anyway,or copied to
2、 any other party,without the prior express written permission of Krungsri Research.This document is based on public information believed to be reliable.Nevertheless,Krungsri Research would not affirm the accuracy and completeness of this information.We accept no liability whatsoever for any direct o
3、r consequential loss arising from any use of this document or its content.Information,opinions and estimates contained in this report are our own,which are not necessarily the opinions of Bank of Ayudhya Public Company Limited and its affiliates.It reflects a judgment at its original date of publica
4、tion by Krungsri Research and are subject to change without notice.DisclaimerFor research subscription,Thian ThiumsakSenior AnalystT+662 296 4742 AuthorEXECUTIVE SUMMARYOver 2024 to 2026,the ethanol industry will enjoy ongoing expansion and improving business conditions thanks to:(i)growth in the to
5、urism industry and an overall strengthening in economic activity;(ii)an increase in the number of vehicles on Thai roads that are able to run on gasohol;(iii)the rising popularity of e-commerce,which will underpin further growth in the transport industry;(iv)government support for biofuels and for i
6、ncreased use of E20 gasohol;and(v)greater demand for ethanol from other industries,for example,for use in the production of sustainable aviation fuels,pharmaceuticals,cosmetics,and bio-plastics.However,challenges facing players will include the impact of the drought on access to raw materials and th