Spain: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Spain

The Spanish azo- or azoxy-compounds market soared to $X in 2022, growing by 25% against the previous year. In general, consumption, however, recorded a slight descent. Azo- or azoxy-compounds consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Azo- Or Azoxy-Compounds Production in Spain

In value terms, azo- or azoxy-compounds production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 749% against the previous year. Azo- or azoxy-compounds production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports from Spain

After three years of growth, overseas shipments of diazo-, azo- or azoxy-compounds decreased by -24.2% to X tons in 2022. Over the period under review, exports, however, saw a moderate increase. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. As a result, the exports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, azo- or azoxy-compounds exports shrank sharply to $X in 2022. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 67%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

Belgium (X tons), France (X tons) and the United States (X tons) were the main destinations of azo- or azoxy-compounds exports from Spain, with a combined 64% share of total exports. Poland, Germany, Luxembourg, Italy, Israel, Hungary, Russia, the Netherlands and Ukraine lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +1,116.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and the United States ($X) were the largest markets for azo- or azoxy-compounds exported from Spain worldwide, with a combined 63% share of total exports. Germany, Poland, Luxembourg, Italy, Hungary, Israel, Russia, the Netherlands and Ukraine lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, Israel, with a CAGR of +1,018.0%, 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

In 2022, the average azo- or azoxy-compounds export price amounted to $X per ton, rising by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Hungary ($X per ton), while the average price for exports to Luxembourg ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Azo- Or Azoxy-Compounds Imports

Imports into Spain

Azo- or azoxy-compounds imports into Spain dropped to X tons in 2022, shrinking by -12.2% against the previous year. The total import volume increased at an average annual rate of +3.3% 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 2021 when imports increased by 46%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, azo- or azoxy-compounds imports rose sharply to $X in 2022. In general, total imports indicated notable growth 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, imports increased by +73.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 62%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest azo- or azoxy-compounds supplier to Spain, with a 74% share of total imports. Moreover, azo- or azoxy-compounds imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by China (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.7% per year) and China (-2.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of diazo-, azo- or azoxy-compounds to Spain, comprising 58% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.7% per year) and Italy (+10.0% per year).

Import Prices by Country

The average azo- or azoxy-compounds import price stood at $X per ton in 2022, surging by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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