Spain: Starch Glue Market 2024

Starch Glue Market Size in Spain

The Spanish starch glue market contracted to $X in 2021, waning by -10.3% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Starch Glue Production in Spain

In value terms, starch glue production rose to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced reduction. The growth pace was the most rapid in 2013 when the production volume increased by 19% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Starch Glue Exports

Exports from Spain

In 2021, shipments abroad of glues based on starches, dextrins or other modified starches increased by 44% to X tons, rising for the fifth year in a row after two years of decline. In general, exports recorded a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, starch glue exports expanded rapidly to $X in 2021. Overall, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.1% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 42%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for starch glue exports from Spain, with a 36% share of total exports. Moreover, starch glue exports to Italy exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Morocco (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +100.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-1.2% per year) and Morocco (+3.9% per year).

In value terms, the largest markets for starch glue exported from Spain were Italy ($X), Poland ($X) and France ($X), with a combined 59% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +85.3%, 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 2021, the average starch glue export price amounted to $X per ton, waning by -23.4% against the previous year. Over the period under review, the export price, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 146% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Spain

In 2021, starch glue imports into Spain rose rapidly to X tons, with an increase of 5.4% compared with 2020 figures. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 25% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, starch glue imports expanded slightly to $X in 2021. In general, imports showed a tangible increase. The most prominent rate of growth was recorded in 2019 when imports increased by 50% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest starch glue supplier to Spain, accounting for a 68% share of total imports. Moreover, starch glue imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was taken by Austria (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.2% per year) and Austria (+15.9% per year).

In value terms, Germany ($X) constituted the largest supplier of glues based on starches, dextrins or other modified starches to Spain, comprising 57% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.0% per year) and Belgium (+83.5% per year).

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, shrinking by -2.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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