Spain: Isocyanates Market 2024

Isocyanates Market Size in Spain

The Spanish isocyanates market soared to $X in 2022, rising by X% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Isocyanates Production in Spain

In value terms, isocyanates production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed pronounced growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Isocyanates production peaked in 2022 and is likely to see steady growth in years to come.

Isocyanates Exports

Exports from Spain

In 2022, isocyanates exports from Spain rose slightly to X tons, growing by X% compared with 2021 figures. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, isocyanates exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for isocyanates exports from Spain, with a X% share of total exports. Moreover, isocyanates exports to Germany exceeded the volume sent to the second major destination, Portugal (X tons), twofold. Italy (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Italy (X% per year).

In value terms, Germany ($X) remains the key foreign market for isocyanates exports from Spain, comprising X% of total exports. The second position in the ranking was held by Portugal ($X), with a X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Italy (X% per year).

Export Prices by Country

In 2022, the average isocyanates export price amounted to $X per ton, jumping by X% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Isocyanates Imports

Imports into Spain

In 2022, approx. X tons of isocyanates were imported into Spain; declining by X% against the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, isocyanates imports dropped to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Hungary (X tons) and Saudi Arabia (X tons) were the main suppliers of isocyanates imports to Spain, together comprising X% of total imports. Belgium, China, the Netherlands, South Korea and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and Saudi Arabia ($X) appeared to be the largest isocyanates suppliers to Spain, together comprising X% of total imports. Belgium, China, South Korea, the Netherlands and France lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average isocyanates import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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 France ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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