Spain: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Spain

The Spanish acrylic acid esters market rose slightly to $X in 2022, picking up by 3.2% against the previous year. Over the period under review, consumption recorded a strong expansion. Acrylic acid esters consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Acrylic Acid Esters Production in Spain

In value terms, acrylic acid esters production stood at $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 43%. Acrylic acid esters production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Acrylic Acid Esters Exports

Exports from Spain

In 2022, shipments abroad of esters of acrylic acid decreased by -32% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 103%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, acrylic acid esters exports dropped sharply to $X in 2022. In general, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 101%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of acrylic acid esters exports from Spain, with a combined 79% share of total exports. The United Arab Emirates, Turkey, the Netherlands, the UK and Portugal lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +219.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) constituted the largest markets for acrylic acid esters exported from Spain worldwide, with a combined 78% share of total exports. The United Arab Emirates, the UK, Turkey, the Netherlands and Portugal lagged somewhat behind, together comprising a further 18%.

The United Arab Emirates, with a CAGR of +205.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, the export price showed a prominent increase. The growth pace was the most rapid in 2021 an increase of 46%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Turkey ($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 the UK (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Spain

In 2022, purchases abroad of esters of acrylic acid decreased by -13.2% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 9%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, acrylic acid esters imports dropped to $X in 2022. Overall, imports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2021 with an increase of 96%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of acrylic acid esters to Spain, with a 57% share of total imports. Moreover, acrylic acid esters imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Belgium (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.8% per year) and Belgium (+4.8% per year).

In value terms, Germany ($X) constituted the largest supplier of esters of acrylic acid to Spain, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 16% share of total imports. It was followed by Belgium, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.6% per year) and Belgium (+6.4% per year).

Import Prices by Country

In 2022, the average acrylic acid esters import price amounted to $X per ton, picking up by 5.3% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acrylic acid esters import price increased by +89.7% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 80%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 South Korea ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :