Spain: Adipic Acid Market 2024

Adipic Acid Market Size in Spain

The Spanish adipic acid market expanded notably to $X in 2022, with an increase of 7.2% against the previous year. In general, consumption, however, posted a buoyant expansion. Adipic acid consumption peaked in 2022 and is expected to retain growth in the immediate term.

Adipic Acid Production in Spain

In value terms, adipic acid production amounted to $X in 2022 estimated in export price. Overall, production recorded a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 66%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Adipic Acid Exports

Exports from Spain

After two years of growth, shipments abroad of adipic acid, its salts and esters decreased by -14.2% to X tons in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 83%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, adipic acid exports expanded modestly to $X in 2022. Overall, exports, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 62%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for adipic acid exports from Spain, with a 38% share of total exports. Moreover, adipic acid exports to Italy exceeded the volume sent to the second major destination, Switzerland (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-5.1% per year) and the UK (+7.4% per year).

In value terms, Italy ($X) remains the key foreign market for adipic acid, its salts and esters exports from Spain, comprising 34% of total exports. The second position in the ranking was held by Switzerland ($X), with a 16% share of total exports. It was followed by the UK, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-3.3% per year) and the UK (+9.3% per year).

Export Prices by Country

The average adipic acid export price stood at $X per ton in 2022, growing by 20% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid export price increased by +62.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 62%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into Spain

Adipic acid imports into Spain contracted dramatically to X tons in 2022, reducing by -20.6% on the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 22%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, adipic acid imports reached $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 61%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

France (X tons), Germany (X tons) and China (X tons) were the main suppliers of adipic acid imports to Spain, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +70.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest adipic acid suppliers to Spain were Germany ($X), France ($X) and China ($X), with a combined 87% share of total imports.

Among the main suppliers, China, with a CAGR of +67.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average adipic acid import price amounted to $X per ton, growing by 26% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +80.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :