Spain: Ethylene Oxide Market 2024

Ethylene Oxide Market Size in Spain

In 2022, the Spanish ethylene oxide market increased by 19% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +86.6% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Ethylene Oxide Production in Spain

In value terms, ethylene oxide production shrank significantly to $X in 2022 estimated in export price. In general, production showed a abrupt slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 51%. Ethylene oxide production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Ethylene Oxide Exports

Exports from Spain

Ethylene oxide exports from Spain contracted dramatically to X tons in 2022, declining by -41.3% on the previous year. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 78%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ethylene oxide exports dropped significantly to $X in 2022. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 64%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for ethylene oxide exports from Spain, with a 88% share of total exports. Moreover, ethylene oxide exports to France exceeded the volume sent to the second major destination, Italy (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at -8.6%.

In value terms, France ($X) remains the key foreign market for oxirane (ethylene oxide) exports from Spain, comprising 86% of total exports. The second position in the ranking was held by Italy ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to France totaled -7.5%.

Export Prices by Country

The average ethylene oxide export price stood at $X per ton in 2022, picking up by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 an increase of 30%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export 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 France stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.8%).

Ethylene Oxide Imports

Imports into Spain

In 2022, the amount of oxirane (ethylene oxide) imported into Spain expanded sharply to X tons, increasing by 7.8% on 2021 figures. Over the period under review, imports showed a noticeable increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,983%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, ethylene oxide imports skyrocketed to $X in 2022. Overall, imports saw moderate growth. The growth pace was the most rapid in 2020 with an increase of 1,207%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, France (X tons) was the main ethylene oxide supplier to Spain, with a 97% share of total imports. It was followed by Germany (X tons), with a 2.1% share of total imports. The third position in this ranking was held by Austria (X tons), with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.7% per year) and Austria (-81.0% per year).

In value terms, France ($X) constituted the largest supplier of oxirane (ethylene oxide) to Spain, comprising 96% of total imports. The second position in the ranking was held by Germany ($X), with a 2.6% share of total imports. It was followed by Belgium, with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.8% per year) and Belgium (+5.1% per year).

Import Prices by Country

The average ethylene oxide import price stood at $X per ton in 2022, with an increase of 13% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 93% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat 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 UK ($X per ton), while the price for France ($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 UK (+46.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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