Spain: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Spain

The Spanish carbon dioxide market reduced sharply to $X in 2022, waning by -26% against the previous year. Over the period under review, consumption, however, enjoyed tangible growth. As a result, consumption reached the peak level of $X, and then declined markedly in the following year.

Carbon Dioxide Production in Spain

In value terms, carbon dioxide production shrank rapidly to $X in 2022 estimated in export price. In general, production, however, saw a measured expansion. The pace of growth appeared the most rapid in 2021 with an increase of 108% against the previous year. As a result, production reached the peak level of $X, and then fell remarkably in the following year.

Carbon Dioxide Exports

Exports from Spain

In 2022, approx. X tons of carbon dioxide were exported from Spain; shrinking by -16.5% against the previous year. Over the period under review, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2017 when exports increased by 116%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, carbon dioxide exports dropped to $X in 2022. In general, exports recorded a mild slump. The pace of growth was the most pronounced in 2018 when exports increased by 50%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Morocco (X tons), Guinea (X tons) and Portugal (X tons) were the main destinations of carbon dioxide exports from Spain, with a combined 68% share of total exports. Cabo Verde, France, Senegal, Egypt, Ghana, Mauritania and Gibraltar lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +306.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Portugal ($X) and Egypt ($X) were the largest markets for carbon dioxide exported from Spain worldwide, together comprising 75% of total exports.

In terms of the main countries of destination, Egypt, with a CAGR of +305.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, growing by 17% against the previous year. Overall, the export price posted modest growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 48% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 Egypt ($X per ton), while the average price for exports to Guinea ($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 Gibraltar (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Spain

In 2022, supplies from abroad of carbon dioxide increased by 107% to X tons, rising for the second consecutive year after four years of decline. In general, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 322% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, carbon dioxide imports soared to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% 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 +68.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 141% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest carbon dioxide supplier to Spain, accounting for a 52% share of total imports. Moreover, carbon dioxide imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Slovakia (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+65.7% per year) and Slovakia (0.0% per year).

In value terms, France ($X), the Netherlands ($X) and Portugal ($X) were the largest carbon dioxide suppliers to Spain, together accounting for 66% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +54.0%, 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

In 2022, the average carbon dioxide import price amounted to $X per ton, falling by -34.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 46% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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