Portugal: Polyurethanes Market 2024

Polyurethanes Market Size in Portugal

After two years of decline, the Portuguese polyurethanes market increased by 25% to $X in 2021. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Polyurethanes consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Polyurethanes Production in Portugal

In value terms, polyurethanes production expanded to $X in 2021 estimated in export price. In general, production showed a noticeable decline. The growth pace was the most rapid in 2013 when the production volume increased by 52%. Polyurethanes production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Polyurethanes Exports

Exports from Portugal

In 2021, approx. X tons of polyurethanes in primary forms were exported from Portugal; surging by 10% on 2020. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, polyurethanes exports skyrocketed to $X in 2021. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for polyurethanes exports from Portugal, accounting for a 66% share of total exports. Moreover, polyurethanes exports to Spain exceeded the volume sent to the second major destination, France (X tons), fourfold. Brazil (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+39.5% per year) and Brazil (+21.5% per year).

In value terms, Spain ($X) remains the key foreign market for polyurethanes in primary forms exports from Portugal, comprising 65% of total exports. The second position in the ranking was held by France ($X), with an 18% share of total exports. It was followed by Italy, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+40.6% per year) and Italy (+6.9% per year).

Export Prices by Country

The average polyurethanes export price stood at $X per ton in 2021, jumping by 45% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and France ($X per ton), while the average price for exports to Brazil ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into Portugal

In 2021, the amount of polyurethanes in primary forms imported into Portugal soared to X tons, rising by 17% on the previous year. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, polyurethanes imports surged to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of polyurethanes imports to Portugal, together accounting for 70% of total imports. These countries were followed by France, the Netherlands, Belgium and Turkey, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +77.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Germany ($X) constituted the largest polyurethanes suppliers to Portugal, together accounting for 70% of total imports. France, the Netherlands, Belgium and Turkey lagged somewhat behind, together accounting for a further 22%.

Turkey, with a CAGR of +77.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, picking up by 17% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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