Spain: Sulphur Market 2024

Sulphur Market Size in Spain

After three years of decline, the Spanish sulphur market increased by 35% to $X in 2022. Overall, consumption, however, recorded a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Sulphur Production in Spain

In value terms, sulphur production soared to $X in 2022 estimated in export price. In general, production, however, saw a abrupt slump. Sulphur production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sulphur Exports

Exports from Spain

In 2022, after three years of decline, there was growth in shipments abroad of sulphur, when their volume increased by 3.2% to X tons. Over the period under review, exports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2016 when exports increased by 27%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sulphur exports surged to $X in 2022. In general, exports continue to indicate slight growth. The most prominent rate of growth was recorded in 2021 when exports increased by 103% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Morocco (X tons) was the main destination for sulphur exports from Spain, with a 45% share of total exports. Moreover, sulphur exports to Morocco exceeded the volume sent to the second major destination, Tunisia (X tons), twofold. The third position in this ranking was held by France (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Morocco amounted to -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+392.8% per year) and France (+12.7% per year).

In value terms, Morocco ($X) remains the key foreign market for sulphur exports from Spain, comprising 41% of total exports. The second position in the ranking was taken by France ($X), with a 20% share of total exports. It was followed by Tunisia, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Morocco was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+13.3% per year) and Tunisia (+359.5% per year).

Export Prices by Country

In 2022, the average sulphur export price amounted to $X per ton, growing by 28% against the previous year. Overall, the export price recorded a prominent expansion. The growth pace was the most rapid in 2021 an increase of 144% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+50.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphur Imports

Imports into Spain

In 2022, sulphur imports into Spain shrank markedly to X tons, with a decrease of -21.8% on the previous year's figure. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 56%. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, sulphur imports surged to $X in 2022. In general, imports saw a deep downturn. The growth pace was the most rapid in 2021 when imports increased by 141%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of sulphur to Spain, accounting for a 41% share of total imports. Moreover, sulphur imports from Italy exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. France (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+445.1% per year) and France (+92.5% per year).

In value terms, the largest sulphur suppliers to Spain were Italy ($X), the Netherlands ($X) and India ($X), with a combined 59% share of total imports. Norway, France, Germany, Portugal and Belgium lagged somewhat behind, together accounting for a further 39%.

Among the main suppliers, Norway, with a CAGR of +421.0%, 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 sulphur import price stood at $X per ton in 2022, picking up by 83% against the previous year. Over the period under review, the import price, however, recorded a deep setback. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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