Alkyd resins in primary forms market in Spain

Earlier Report Observations

The Spanish market for alkyd resins in primary forms contracted significantly in volume from 56 909 t in 2018 to 24 574 t in 2024, with market value falling from $154.9 million to $59.5 million over the same period. This decline was initially marked by supply chain disruptions during the COVID-19 pandemic in 2020, which caused raw material price fluctuations and production delays. Concurrently, new players like Umicore and Altakem entered the market with low-VOC and bio-based resin offerings, increasing competition and shifting product mix without reversing the overall downward trend in market size.

The market's structure evolved with the introduction of specific new products, such as ASK Chemicals' renewable-based Necowell 5110 emulsion presented in 2021, signaling a move toward more specialized, environmentally friendly formulations. Regulatory pressures also played a role; the Real Decreto 1055/2022 on packaging labeling and traceability, effective from 2022, required adaptations from producers of resins for food-contact coatings, adding compliance costs. These factors, alongside the announced EU ban on bisphenol A, contributed to the continued market contraction and value decrease throughout 2023 and 2024.

Despite the overall shrinkage, the period saw stabilization in physical volume around 29 000 t in 2022, coinciding with the enforcement of new labeling rules and competitive pricing strategies focused on VOC reduction. The persistent presence of established state-owned producer Residesa and the ongoing launch of green alternatives provided some market activity, but were insufficient to offset the broader decline in total consumption and production volumes observed across the full seven-year span.

Production alkyd resins in primary forms in Spain

In value, 2017-2020, M $ US

Spain's production of alkyd resins in primary forms declined for the second consecutive year. In 2020, output was valued at 99.0 million US dollars, marking a modest contraction of 7.5% compared to the previous year. Over the period from 2017 to 2020, production decreased by 7%, which translates to an annualized decline rate of 2.4%. The highest production value was recorded in 2018 at 159.5 million US dollars, with the largest annual increase of 50.0% occurring that year. Conversely, the most significant decline was observed in 2019, when production fell by 32.9%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, t

In 2020, Spain produced 45 232 tonnes of alkyd resins in primary forms, reflecting an increase of 5.8% compared to the previous year. However, over the broader period from 2017 to 2020, production decreased by 14.2%, with a compound annual growth rate (CAGR) of -5.0%. The lowest production volume was recorded in 2019 at 42 734 tonnes, which saw the largest annual decline of 29.1%. In contrast, the peak was reached in 2018 with 60 274 tonnes, when production surged by 14.4%.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports alkyd resins in primary forms from Spain

Exports in kind, t

Spain's exports of alkyd resins in primary forms declined for the third consecutive year. In 2020, the country exported 13 154 tonnes, showing a slight decrease of 1.7% compared to 2019. Over the period from 2017 to 2020, exports fell by 26.6%, equating to an annualized decline rate of 9.8%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, France, the United Kingdom, and Belgium were the principal buyers of alkyd resins in primary forms from Spain. France accounted for 26.6% of exports in kind, the United Kingdom for 12.8%, and Belgium for 12.6%. Together, these three countries represented 52.0% of Spain's total exports in kind during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

Spain's exports of alkyd resins in primary forms in value terms declined for the second consecutive year. In 2020, exports amounted to 23 961 thousand US dollars, corresponding to a modest drop of 5.5% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 26.6%, with a compound annual growth rate (CAGR) of -9.8%. The highest export value was recorded in 2018 at 35 445 thousand US dollars, which also saw the largest annual increase of 8.6%. The most significant decline occurred in 2019, with a decrease of 28.5%.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

From 2017 to 2020, Spain's exports in value terms were distributed across a wide range of partner countries. France accounted for 25.4% of exports in value terms, the United Kingdom for 13.1%, and Belgium for 9.2%. Collectively, these three countries represented 47.7% of total export flows during this period.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports alkyd resins in primary forms to Spain

Imports in kind, t

After a two-year increase, Spain's imports of alkyd resins in primary forms declined. In 2020, the country imported 13 263 tonnes, representing a solid fall of 11.1% compared to 2019. Over the period from 2017 to 2020, imports increased by 4.8%, equating to an annualized growth rate of 1.6%. The highest import volume was recorded in 2019 at 14 916 tonnes, while the largest annual increase of 9.5% occurred in 2018.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, Portugal, Italy, and Belgium were the main sources for Spain's imports of alkyd resins in primary forms in kind. Portugal accounted for 23.2% of imports in kind, Italy for 22.5%, and Belgium for 18.0%. Together, these three countries supplied 63.8% of total import flows during this period.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

Spain's imports of alkyd resins in primary forms in value terms declined for the second consecutive year. In 2020, imports totaled 26 231 thousand US dollars, down by 13.8% compared to 2019. Over the period from 2017 to 2020, imports decreased by 10%, equating to an annualized decline rate of 3.5%. The highest import value was recorded in 2018 at 30 875 thousand US dollars, which also saw the largest annual increase of 5.9%.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

From 2017 to 2020, Italy, the Netherlands, and Portugal were the main sources for Spain's imports of alkyd resins in primary forms in value terms. Italy accounted for 25.0% of imports in value terms, the Netherlands for 19.3%, and Portugal for 17.9%. Collectively, these three countries absorbed 62.2% of total imports in value terms during this period.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020