Spain: O-Xylene Market 2024

O-Xylene Market Size in Spain

The Spanish o-xylene market reduced remarkably to $X in 2022, with a decrease of -21.5% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. O-xylene consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

O-Xylene Production in Spain

In value terms, o-xylene production reduced to $X in 2022 estimated in export price. In general, production, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by 15%. O-xylene production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

O-Xylene Exports

Exports from Spain

In 2022, exports of o-xylene from Spain expanded significantly to X tons, with an increase of 13% compared with 2021. Over the period under review, exports, however, showed a slight setback. The most prominent rate of growth was recorded in 2019 when exports increased by 42% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, o-xylene exports soared to $X in 2022. Overall, exports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 60% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons), the Netherlands (X tons) and Gibraltar (X tons) were the main destinations of o-xylene exports from Spain, together comprising 86% of total exports. Colombia and France lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +7,267.9%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Gibraltar ($X) constituted the largest markets for o-xylene exported from Spain worldwide, together comprising 88% of total exports. Colombia and France lagged somewhat behind, together accounting for a further 11%.

Among the main countries of destination, Colombia, with a CAGR of +2,268.5%, saw the highest growth rate of 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 2022, the average o-xylene export price amounted to $X per ton, increasing by 38% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 the Netherlands ($X per ton), while the average price for exports to Gibraltar ($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 France (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

O-Xylene Imports

Imports into Spain

In 2022, approx. X tons of o-xylene were imported into Spain; rising by 11,320% against the year before. Overall, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, o-xylene imports skyrocketed to $X in 2022. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) was the main supplier of o-xylene to Spain, with a 92% share of total imports. Moreover, o-xylene imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by Belgium (X tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +269.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+42.6% per year) and Belgium (+113.8% per year).

In value terms, Italy ($X) constituted the largest supplier of o-xylene to Spain, comprising 85% of total imports. The second position in the ranking was held by Germany ($X), with a 9.2% share of total imports. It was followed by Belgium, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +211.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+46.4% per year) and Belgium (+127.2% per year).

Import Prices by Country

The average o-xylene import price stood at $X per ton in 2022, shrinking by -46% against the previous year. Overall, the import price showed a noticeable contraction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 55%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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