Spain: Market for Bromides And Bromide Oxides, Iodides And Iodide Oxides 2023

Market Size for Bromides And Bromide Oxides, Iodides And Iodide Oxides in Spain

In 2021, the Spanish market for bromides and bromide oxides, iodides and iodide oxides increased by 30% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Bromides And Bromide Oxides, Iodides And Iodide Oxides in Spain

In value terms, bromides, iodides and oxids thereof production skyrocketed to $X in 2021 estimated in export price. In general, production showed resilient growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 80%. Bromides, iodides and oxids thereof production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

Exports from Spain

In 2021, overseas shipments of bromides and bromide oxides, iodides and iodide oxides decreased by -28.1% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 39%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, bromides, iodides and oxids thereof exports reduced to $X in 2021. Overall, total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.2% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 58%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for bromides, iodides and oxids thereof exports from Spain, with a 55% share of total exports. Moreover, bromides, iodides and oxids thereof exports to the UK exceeded the volume sent to the second major destination, Portugal (X tons), sixfold. Italy (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled +69.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-21.3% per year) and Italy (+35.4% per year).

In value terms, Portugal ($X), the UK ($X) and France ($X) constituted the largest markets for bromides, iodides and oxids thereof exported from Spain worldwide, with a combined 66% share of total exports.

The UK, with a CAGR of +98.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 export price for bromides and bromide oxides, iodides and iodide oxides amounted to $X per ton, rising by 27% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bromides, iodides and oxids thereof export price increased by +109.5% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Belgium ($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 Nigeria (+47.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

Imports into Spain

In 2021, approx. X tons of bromides and bromide oxides, iodides and iodide oxides were imported into Spain; falling by -46.4% against the previous year. Overall, imports saw a deep setback. The growth pace was the most rapid in 2015 when imports increased by 45%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, bromides, iodides and oxids thereof imports reduced to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 23%. Over the period under review, imports hit record highs at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of bromides, iodides and oxids thereof to Spain, with a 79% share of total imports. Moreover, bromides, iodides and oxids thereof imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by France (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.1% per year) and France (+3.2% per year).

In value terms, the largest bromides, iodides and oxids thereof suppliers to Spain were the Netherlands ($X), France ($X) and India ($X), together accounting for 72% of total imports. Vietnam and Germany lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Vietnam, with a CAGR of +26.0%, 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 import price for bromides and bromide oxides, iodides and iodide oxides stood at $X per ton in 2021, rising by 68% against the previous year. In general, the import price showed resilient growth. The growth pace was the most rapid in 2016 when the average import price increased by 79%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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