Spain: Amino Resin Market 2024

Amino Resin Market Size in Spain

In 2022, the Spanish amino resin market increased by 3.1% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed a buoyant expansion. Amino resin consumption peaked in 2022 and is likely to continue growth in the immediate term.

Amino Resin Production in Spain

In value terms, amino resin production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a mild reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 45% against the previous year. Amino resin production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Amino Resin Exports

Exports from Spain

Amino resin exports from Spain reduced modestly to X tons in 2022, waning by -2.1% compared with the previous year. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, amino resin exports rose remarkably to $X in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 70% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for amino resin exports from Spain, accounting for a 30% share of total exports. Moreover, amino resin exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), threefold. The third position in this ranking was held by France (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+89.2% per year) and France (+3.4% per year).

In value terms, the United States ($X) emerged as the key foreign market for amino resins exports from Spain, comprising 23% of total exports. The second position in the ranking was taken by France ($X), with an 11% share of total exports. It was followed by Brazil, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+7.8% per year) and Brazil (+92.2% per year).

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, surging by 10% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin export price increased by +66.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 50% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United States ($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 China (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Spain

In 2022, purchases abroad of amino resins increased by 11% to X tons, rising for the second year in a row after three years of decline. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.6% 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 +33.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 44% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, amino resin imports rose sharply to $X in 2022. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 92% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), China (X tons) and Portugal (X tons) were the main suppliers of amino resin imports to Spain, with a combined 62% share 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 +268.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to Spain were Belgium ($X), Portugal ($X) and China ($X), together accounting for 61% of total imports.

In terms of the main suppliers, China, with a CAGR of +186.7%, saw the highest rates of growth with regard to 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

The average amino resin import price stood at $X per ton in 2022, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 60%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Hungary ($X per ton), while the price for Japan ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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