Spain: Explosives Market 2024

Explosives Market Size in Spain

In 2021, the Spanish explosives market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a noticeable downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Explosives Production in Spain

In value terms, explosives production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced decrease. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Explosives Exports

Exports from Spain

In 2021, overseas shipments of prepared explosives were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.3% from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 29%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, explosives exports totaled $X in 2021. Overall, total exports indicated perceptible growth from 2013 to 2021: its value increased at an average annual rate of +3.9% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 23%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), France (X tons) and Italy (X tons) were the main destinations of explosives exports from Spain, with a combined 51% share of total exports. These countries were followed by Ghana, Portugal, Mali, Croatia, Egypt, Ecuador, Turkey, Burkina Faso, Romania and the Philippines, which together accounted for a further 39%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +222.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for explosives exported from Spain were Germany ($X), France ($X) and Ghana ($X), together accounting for 45% of total exports. These countries were followed by Egypt, Mali, Italy, Portugal, Croatia, Ecuador, Romania, Burkina Faso, Turkey and the Philippines, which together accounted for a further 39%.

In terms of the main countries of destination, Croatia, with a CAGR of +238.5%, 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 2021, the average explosives export price amounted to $X per ton, growing by 4.9% against the previous year. Over the last eight years, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2018 when the average export price increased by 23%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Explosives Imports

Imports into Spain

In 2021, explosives imports into Spain was estimated at X tons, picking up by 4.3% on 2020 figures. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 149%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, explosives imports rose slightly to $X in 2021. In general, total imports indicated a strong increase from 2013 to 2021: its value increased at an average annual rate of +5.1% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.2% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 134%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of explosives to Spain, accounting for a 73% share of total imports. Moreover, explosives imports from Portugal exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was held by France (X tons), with a 7.2% share.

From 2013 to 2021, the average annual rate of growth in terms of volume from Portugal amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.2% per year) and France (+1.0% per year).

In value terms, Portugal ($X), France ($X) and Germany ($X) appeared to be the largest explosives suppliers to Spain, with a combined 67% share of total imports. These countries were followed by Bulgaria, Poland and Romania, which together accounted for a further 11%.

In terms of the main suppliers, Bulgaria, with a CAGR of +57.9%, recorded 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 explosives import price stood at $X per ton in 2021, flattening at the previous year. Overall, the import price showed a mild reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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