Spain: Wood Barrel Market 2024

Wood Barrel Market Size in Spain

For the third year in a row, the Spanish wood barrel market recorded decline in sales value, which decreased by -16.9% to $X in 2022. Over the period under review, consumption, however, saw a relatively flat trend pattern. Wood barrel consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Wood Barrel Production in Spain

In value terms, wood barrel production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.0% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Wood Barrel Exports

Exports from Spain

In 2022, approx. X units of casks, barrels, vats, tubs, and coopers products of wood were exported from Spain; with an increase of 19% against the previous year's figure. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +9.3% 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 +41.2% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 28%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, wood barrel exports expanded significantly to $X in 2022. Over the period under review, exports showed resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by 41%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The UK (X units) was the main destination for wood barrel exports from Spain, with a 51% share of total exports. Moreover, wood barrel exports to the UK exceeded the volume sent to the second major destination, France (X units), sixfold. The third position in this ranking was held by Japan (X units), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+6.6% per year) and Japan (+8.8% per year).

In value terms, the UK ($X) remains the key foreign market for casks, barrels, vats, tubs, and coopers products of wood exports from Spain, comprising 63% of total exports. The second position in the ranking was held by Japan ($X), with an 8.8% share of total exports. It was followed by France, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+11.3% per year) and France (+6.0% per year).

Export Prices by Country

The average wood barrel export price stood at $X per unit in 2022, declining by -7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2021 an increase of 24%. As a result, the export price reached the peak level of $X per unit, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Barrel Imports

Imports into Spain

After two years of decline, overseas purchases of casks, barrels, vats, tubs, and coopers products of wood increased by 13% to X units in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 30%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, wood barrel imports stood at $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +9.1% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 47% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest wood barrel supplier to Spain, with a 50% share of total imports. Moreover, wood barrel imports from the United States exceeded the figures recorded by the second-largest supplier, France (X units), twofold. The third position in this ranking was held by the UK (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and the UK (+42.0% per year).

In value terms, the largest wood barrel suppliers to Spain were France ($X), the United States ($X) and Romania ($X), with a combined 93% share of total imports.

Among the main suppliers, Romania, with a CAGR of +38.7%, 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

In 2022, the average wood barrel import price amounted to $X per unit, declining by -4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 42%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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