Spain: Monophenols Market 2024

Monophenols Market Size in Spain

In 2021, the Spanish monophenols market increased by 3.5% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Monophenols consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Monophenols Production in Spain

In value terms, monophenols production fell slightly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 6.9% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Monophenols Exports

Exports from Spain

In 2021, overseas shipments of monophenols decreased by -25.6% to X tons, falling for the third consecutive year after two years of growth. In general, exports saw a noticeable descent. The pace of growth was the most pronounced in 2018 when exports increased by 36% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, monophenols exports declined remarkably to $X in 2021. Over the period under review, exports saw a pronounced setback. The growth pace was the most rapid in 2018 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for monophenols exports from Spain, accounting for a 35% share of total exports. Moreover, monophenols exports to Germany exceeded the volume sent to the second major destination, Switzerland (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+18.6% per year) and Belgium (+6.6% per year).

In value terms, Germany ($X) remains the key foreign market for monophenols exports from Spain, comprising 29% of total exports. The second position in the ranking was held by Switzerland ($X), with an 11% share of total exports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+26.1% per year) and Belgium (+9.7% per year).

Export Prices by Country

The average monophenols export price stood at $X per ton in 2021, increasing by 13% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to the United States ($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 Singapore (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Monophenols Imports

Imports into Spain

In 2021, overseas purchases of monophenols were finally on the rise to reach X tons after three years of decline. Overall, imports enjoyed a resilient increase. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, monophenols imports soared to $X in 2021. In general, imports posted a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 144% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of monophenols imports to Spain, together comprising 70% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +46.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest monophenols suppliers to Spain were France ($X), Germany ($X) and Belgium ($X), together accounting for 60% of total imports.

Belgium, with a CAGR of +47.8%, recorded the highest growth rate of the value of imports, in terms of 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 monophenols import price amounted to $X per ton, declining by -20.1% against the previous year. Overall, the import price recorded a noticeable contraction. The pace of growth appeared the most rapid in 2017 an increase of 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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