Spain: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Spain

In 2021, after two years of growth, there was significant decline in the Spanish aromatic hydrocarbons derivatives market, when its value decreased by -81.9% to $X. Over the period under review, consumption faced a abrupt downturn. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Production in Spain

In value terms, aromatic hydrocarbons derivatives production shrank notably to $X in 2021 estimated in export price. In general, production recorded a precipitous descent. The growth pace was the most rapid in 2016 when the production volume increased by 79%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Aromatic Hydrocarbons Derivatives Exports

Exports from Spain

For the fourth consecutive year, Spain recorded growth in shipments abroad of halogenated derivatives of aromatic hydrocarbons, which increased by 141% to X tons in 2021. In general, exports showed a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by 360%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, aromatic hydrocarbons derivatives exports surged to $X in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 438%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Portugal (X tons) was the main destination for aromatic hydrocarbons derivatives exports from Spain, accounting for a 62% share of total exports. Moreover, aromatic hydrocarbons derivatives exports to Portugal exceeded the volume sent to the second major destination, Ireland (X tons), fourfold. France (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Portugal amounted to +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+1,087.8% per year) and France (+57.3% per year).

In value terms, Portugal ($X), Ireland ($X) and Mexico ($X) constituted the largest markets for aromatic hydrocarbons derivatives exported from Spain worldwide, together comprising 94% of total exports.

Ireland, with a CAGR of +518.0%, saw 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

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, falling by -8.7% against the previous year. Over the period under review, the export price, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 an increase of 742%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to France ($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 Cameroon (+213.8%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Hydrocarbons Derivatives Imports

Imports into Spain

In 2021, purchases abroad of halogenated derivatives of aromatic hydrocarbons decreased by -29.6% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, enjoyed perceptible growth. The growth pace was the most rapid in 2015 with an increase of 125%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives imports fell markedly to $X in 2021. In general, imports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2015 with an increase of 152% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Belgium (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of aromatic hydrocarbons derivatives imports to Spain, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic hydrocarbons derivatives suppliers to Spain were Belgium ($X), the United States ($X) and Germany ($X), with a combined 82% share of total imports.

Belgium, with a CAGR of +34.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aromatic hydrocarbons derivatives import price stood at $X per ton in 2021, surging by 7.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 27%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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 China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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