Spain: Resinoids Market 2022

Resinoids Market Size in Spain

The Spanish resinoids market declined remarkably to $X in 2021, shrinking by -16.8% against the previous year. In general, consumption, however, enjoyed a strong increase. Resinoids consumption peaked at $X in 2020, and then shrank significantly in the following year.

Resinoids Production in Spain

In value terms, resinoids production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, posted a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 105% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then contracted markedly in the following year.

Resinoids Exports

Exports from Spain

In 2021, after two years of decline, there was significant growth in overseas shipments of resinoids, when their volume increased by 16% to X tons. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2013 when exports increased by 96% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, resinoids exports surged to $X in 2021. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 59% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

France (X tons) was the main destination for resinoids exports from Spain, with a 56% share of total exports. Moreover, resinoids exports to France exceeded the volume sent to the second major destination, Mozambique (X tons), fourfold. The third position in this ranking was held by Portugal (X tons), with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (0.0% per year) and Portugal (+6.5% per year).

In value terms, France ($X) remains the key foreign market for resinoids exports from Spain, comprising 61% of total exports. The second position in the ranking was held by Germany ($X), with a 5.5% share of total exports. It was followed by the United States, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.7% per year) and the United States (-2.9% per year).

Export Prices by Country

The average resinoids export price stood at $X per ton in 2021, with an increase of 3% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, resinoids export price increased by +43.8% against 2017 indices. The pace of growth was the most pronounced in 2020 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Mozambique ($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 France (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into Spain

In 2021, approx. X tons of resinoids were imported into Spain; reducing by -81.7% on the previous year. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 163%. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped sharply in the following year.

In value terms, resinoids imports dropped significantly to $X in 2021. In general, total imports indicated temperate growth 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, imports increased by +52.9% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 31%. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

Italy (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of resinoids imports to Spain, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +29.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of resinoids to Spain, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+40.1% per year) and Italy (-10.9% per year).

Import Prices by Country

In 2021, the average resinoids import price amounted to $X per ton, growing by 322% against the previous year. Over the period under review, the import price enjoyed significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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