Spain: Hydrogen Chloride Market 2023

Hydrogen Chloride Market Size in Spain

For the third year in a row, the Spanish hydrogen chloride market recorded decline in sales value, which decreased by -1.9% to $X in 2021. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Hydrogen Chloride Production in Spain

In value terms, hydrogen chloride production reduced slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 44% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Hydrogen Chloride Exports

Exports from Spain

In 2021, shipments abroad of hydrogen chloride (hydrochloric acid) decreased by -10.9% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports recorded a slight reduction. The most prominent rate of growth was recorded in 2020 with an increase of 121% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hydrogen chloride exports reduced to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 81% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Morocco (X tons), France (X tons) and Italy (X tons) were the main destinations of hydrogen chloride exports from Spain, together comprising 57% of total exports. Gibraltar, Albania, Germany, Portugal, Equatorial Guinea, Tunisia and Algeria lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Albania (with a CAGR of +343.6%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for hydrogen chloride (hydrochloric acid) exports from Spain, comprising 46% of total exports. The second position in the ranking was taken by Portugal ($X), with a 9.2% share of total exports. It was followed by Morocco, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to France totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+10.7% per year) and Morocco (+48.3% per year).

Export Prices by Country

In 2021, the average hydrogen chloride export price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hydrogen chloride export price decreased by -18.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 44%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Tunisia ($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 Germany (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hydrogen Chloride Imports

Imports into Spain

In 2021, imports of hydrogen chloride (hydrochloric acid) into Spain soared to X tons, jumping by 15% compared with the previous year. In general, imports recorded a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hydrogen chloride imports rose modestly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 61% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of hydrogen chloride to Spain, accounting for a 65% share of total imports. Moreover, hydrogen chloride imports from Portugal exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by France (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.7% per year) and France (+12.9% per year).

In value terms, Portugal ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to Spain, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with a 21% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Portugal amounted to -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.4% per year) and France (-2.2% per year).

Import Prices by Country

The average hydrogen chloride import price stood at $X per ton in 2021, waning by -10% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 13% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Belgium ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+32.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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