Spain: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Spain

For the fifth year in a row, the Spanish cyclic hydrocarbons market recorded growth in sales value, which increased by 15% to $X in 2021. In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +86.6% against 2016 indices. Cyclic hydrocarbons consumption peaked in 2021 and is likely to see steady growth in the near future.

Cyclic Hydrocarbons Production in Spain

In value terms, cyclic hydrocarbons production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +89.5% against 2016 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Cyclic Hydrocarbons Exports

Exports from Spain

In 2019, shipments abroad of other cyclic hydrocarbons decreased by -29.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 77%. The exports peaked at X tons in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports contracted significantly to $X in 2019. Overall, exports faced a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 90% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for cyclic hydrocarbons exports from Spain, accounting for a 82% share of total exports. Moreover, cyclic hydrocarbons exports to Belgium exceeded the volume sent to the second major destination, the United States (X tons), tenfold. The third position in this ranking was taken by India (X tons), with a 5.1% share.

From 2012 to 2019, the average annual rate of growth in terms of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.8% per year) and India (-10.2% per year).

In value terms, Belgium ($X) remains the key foreign market for other cyclic hydrocarbons exports from Spain, comprising 75% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.8% share of total exports. It was followed by India, with a 3.4% share.

From 2012 to 2019, the average annual rate of growth in terms of value to Belgium amounted to -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.8% per year) and India (-12.6% per year).

Export Prices by Country

In 2019, the average cyclic hydrocarbons export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 7.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2019, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Germany ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into Spain

In 2021, purchases abroad of other cyclic hydrocarbons increased by 6.9% to X tons, rising for the second consecutive year after four years of decline. In general, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a slight downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of cyclic hydrocarbons to Spain, with a 53% share of total imports. Moreover, cyclic hydrocarbons imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the UK amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.2% per year) and the United States (+77.3% per year).

In value terms, the UK ($X) constituted the largest supplier of other cyclic hydrocarbons to Spain, comprising 41% of total imports. The second position in the ranking was held by India ($X), with a 16% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+117.2% per year) and the United States (+70.6% per year).

Import Prices by Country

In 2021, the average cyclic hydrocarbons import price amounted to $X per ton, surging by 13% against the previous year. Overall, the import price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 121% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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