Spain: Imines Market 2024

Imines Market Size in Spain

In 2021, after two years of growth, there was significant decline in the Spanish imines market, when its value decreased by -28% to $X. Over the period under review, consumption, however, recorded a buoyant expansion. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Imines Production in Spain

In value terms, imines production declined slightly to $X in 2021 estimated in export price. Overall, production saw a noticeable downturn. The most prominent rate of growth was recorded in 2019 with an increase of 1.6%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Imines Exports

Exports from Spain

In 2021, approx. X tons of imines and their derivatives and salts thereof were exported from Spain; surging by 12% compared with 2020. Overall, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% 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 +80.2% against 2013 indices. The pace of growth appeared the most rapid in 2017 with an increase of 22%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, imines exports expanded sharply to $X in 2021. The total export value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Italy (X tons) and the UK (X tons) were the main destinations of imines exports from Spain, with a combined 61% share of total exports. Japan, Germany, Sweden, France, Singapore, South Korea, China, Taiwan (Chinese), Israel and Australia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +124.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for imines and their derivatives and salts thereof exports from Spain, comprising 38% of total exports. The second position in the ranking was held by the UK ($X), with a 10% share of total exports. It was followed by Sweden, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+2.5% per year) and Sweden (+127.5% per year).

Export Prices by Country

The average imines export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the export price, however, saw a noticeable slump. The growth pace was the most rapid in 2020 when the average export price increased by 10%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to Italy ($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 Taiwan (Chinese) (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imines Imports

Imports into Spain

In 2021, supplies from abroad of imines and their derivatives and salts thereof decreased by -13.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 72%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, imines imports surged to $X in 2021. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 37% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest imines supplier to Spain, accounting for a 39% share of total imports. Moreover, imines imports from France exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.7% per year) and India (+24.1% per year).

In value terms, France ($X), the Netherlands ($X) and China ($X) constituted the largest imines suppliers to Spain, with a combined 56% share of total imports. These countries were followed by Germany, Ireland, India, Belgium and Italy, which together accounted for a further 30%.

Ireland, with a CAGR of +123.3%, recorded the highest growth rate of 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

In 2021, the average imines import price amounted to $X per ton, increasing by 43% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average import price increased by 44% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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