Spain: Chromates Market 2024

Chromates Market Size in Spain

In 2022, the Spanish chromates market increased by 33% to $X, rising for the second consecutive year after three years of decline. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Chromates Exports

Exports from Spain

For the fifth year in a row, Spain recorded decline in shipments abroad of chromates, dichromates and peroxochromates, which decreased by -53% to X tons in 2022. Over the period under review, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of 2,019%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, chromates exports shrank remarkably to $X in 2022. Overall, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 564%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Portugal (X kg) was the main destination for chromates exports from Spain, accounting for a 46% share of total exports. Moreover, chromates exports to Portugal exceeded the volume sent to the second major destination, Chile (X kg), twofold. Taiwan (Chinese) (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-19.8% per year) and Taiwan (Chinese) (-13.0% per year).

In value terms, Portugal ($X), Chile ($X) and Taiwan (Chinese) ($X) constituted the largest markets for chromates exported from Spain worldwide, together comprising 48% of total exports. Paraguay, Peru, France and the Netherlands lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, Paraguay, with a CAGR of +34.6%, recorded the highest growth rate of 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

The average chromates export price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period under review, the export price recorded strong growth. The most prominent rate of growth was recorded in 2018 an increase of 114%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Portugal ($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 Chile (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chromates Imports

Imports into Spain

In 2022, chromates imports into Spain soared to X tons, picking up by 25% against 2021 figures. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +66.8% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, chromates imports skyrocketed to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +95.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 47% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Kazakhstan (X tons), Russia (X tons) and Turkey (X tons) were the main suppliers of chromates imports to Spain, with a combined 91% 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 Turkey (with a CAGR of +224.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constituted the largest supplier of chromates, dichromates and peroxochromates to Spain, comprising 53% of total imports. The second position in the ranking was taken by Russia ($X), with a 20% share of total imports. It was followed by Turkey, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Kazakhstan totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+52.3% per year) and Turkey (+282.8% per year).

Import Prices by Country

The average chromates import price stood at $X per ton in 2022, increasing by 6.9% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromates import price increased by +9.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 36% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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