Spain: Baking Soda Market 2024

Baking Soda Market Size in Spain

After three years of growth, the Spanish baking soda market decreased by -49.9% to $X in 2021. Over the period under review, consumption saw a abrupt descent. Baking soda consumption peaked at $X in 2020, and then dropped markedly in the following year.

Baking Soda Production in Spain

In value terms, baking soda production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 18% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Baking Soda Exports

Exports from Spain

For the third year in a row, Spain recorded growth in shipments abroad of baking soda, which increased by 49% to X tons in 2021. Over the period under review, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, baking soda exports surged to $X in 2021. Overall, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for baking soda exports from Spain, accounting for a 56% share of total exports. Moreover, baking soda exports to France exceeded the volume sent to the second major destination, Germany (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+75.9% per year) and China (+51.1% per year).

In value terms, France ($X) remains the key foreign market for baking soda exports from Spain, comprising 50% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.8% share of total exports. It was followed by Italy, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to France totaled +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+52.2% per year) and Italy (+48.9% per year).

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, increasing by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Brazil ($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 the Netherlands (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Spain

Baking soda imports into Spain rose notably to X tons in 2021, increasing by 13% on the previous year. Over the period under review, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, baking soda imports amounted to $X in 2021. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of 26%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of baking soda to Spain, with a 71% share of total imports. Moreover, baking soda imports from Turkey exceeded the figures recorded by the second-largest supplier, Portugal (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+25.2% per year) and France (+34.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of baking soda to Spain, comprising 50% of total imports. The second position in the ranking was taken by France ($X), with a 14% share of total imports. It was followed by Portugal, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+30.9% per year) and Portugal (+13.2% per year).

Import Prices by Country

The average baking soda import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 17%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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