Spain: Salicylic Acid Market 2024

Salicylic Acid Market Size in Spain

In 2021, the Spanish salicylic acid market decreased by -12.9% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, posted a mild expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Salicylic Acid Production in Spain

In value terms, salicylic acid production shrank to $X in 2021 estimated in export price. Overall, production recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 13%. Salicylic acid production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Salicylic Acid Exports

Exports from Spain

In 2021, the amount of salicylic acid and its salts exported from Spain reduced remarkably to X tons, waning by -34.8% compared with 2020 figures. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 98%. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, salicylic acid exports fell remarkably to $X in 2021. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 109%. The exports peaked at $X in 2020, and then dropped significantly in the following year.

Exports by Country

Sweden (X tons) was the main destination for salicylic acid exports from Spain, with a 63% share of total exports. Moreover, salicylic acid exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+63.0% per year) and the United States (+41.6% per year).

In value terms, the largest markets for salicylic acid exported from Spain were Sweden ($X), the United States ($X) and Germany ($X), together accounting for 59% of total exports. Egypt, France and Morocco lagged somewhat behind, together accounting for a further 17%.

In terms of the main countries of destination, France, with a CAGR of +61.7%, recorded the highest growth rate of the value of exports, 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 salicylic acid export price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 72%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Sweden ($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 Egypt (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Salicylic Acid Imports

Imports into Spain

Salicylic acid imports into Spain contracted remarkably to X tons in 2021, waning by -40.1% on the year before. Over the period under review, imports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 with an increase of 135%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, salicylic acid imports declined rapidly to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 71%. Imports peaked at $X in 2020, and then dropped remarkably in the following year.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of salicylic acid to Spain, accounting for a 58% share of total imports. Moreover, salicylic acid imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from France amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.8% per year) and China (-19.0% per year).

In value terms, the largest salicylic acid suppliers to Spain were France ($X), Germany ($X) and China ($X), with a combined 97% share of total imports.

Germany, with a CAGR of +34.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average salicylic acid import price amounted to $X per ton, picking up by 22% against the previous year. In general, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 66% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average 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 Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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