Coachwork polishes market in Spain

Earlier Report Observations

The market for coachwork polishes in Spain, measured in volume, contracted over 2019 and 2020, falling from 5 616 tonnes in 2018 to 4 361 tonnes in 2020. This was followed by a strong recovery, with volume surging by 41.7% in 2021 to 6 181 tonnes. Growth continued in 2022, reaching 8 704 tonnes, and peaked at 9 257 tonnes in 2023, before a correction to 7 282 tonnes in 2024.

In monetary terms, the market value showed resilience early on, increasing by 5.7% in 2020 to 7.8 million dollars despite the volume drop. The most pronounced expansion occurred in 2021, when value jumped 62.4% to 12.6 million dollars. This upward trend persisted, with value rising to 13.7 million dollars in 2022 and 16.0 million dollars in 2023, before a slight decrease to 15.1 million dollars in 2024.

Domestic production mirrored the market's volume trajectory, declining to 4 950 tonnes in 2020 then expanding to over 9 900 tonnes by 2023. Net trade, calculated from imports and exports, contributed to market size fluctuations, with imports generally rising and exports varying year to year.

Production coachwork polishes in Spain

In value, 2017-2020, K $ US

After two consecutive years of decline, Spain's coachwork polishes production showed an increase. In 2020, output was valued at 7 610 K $ US, marking a slight 0.7% rise compared to 2019. The lowest production value during this period was recorded in 2019 at 7 555 K $ US. Looking at the broader trend from 2017 to 2020, production decreased by 16.8%, which translates to an annualized decline rate of 5.9%. The most significant drop occurred in 2018, with a 14.8% decrease.

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

In kind, 2017-2020, t

Spain's coachwork polishes production declined for the third year in a row. In 2020, the country produced 4 950 tons, representing a substantial year-over-year decrease of 18.8%. Over the four-year period from 2017 to 2020, production fell by 30.6%, corresponding to a compound annual growth rate (CAGR) of -11.5%.

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

Exports coachwork polishes from Spain

Exports in kind, t

In 2020, Spain's coachwork polishes exports totaled 1 156 tons, showing a sharp year-over-year decline of 33.1%. The lowest export volume during this period was in 2018 at 1 071 tons, while the peak was reached in 2019 with 1 727 tons. The most notable increase occurred in 2019, with a 61.3% rise. Overall, from 2017 to 2020, exports increased by 4.8%, equating to an annualized growth rate of 1.6%.

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

From 2017 to 2020, the Netherlands, Belgium, and the United Kingdom consistently held the top positions in Spain's export structure for coachwork polishes in volume terms. The Netherlands accounted for 30.1% of exports, Belgium for 16.1%, and the United Kingdom for 14.4%. Together, these three countries represented 60.5% of total export flows.

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 coachwork polishes exports in value terms increased for the second consecutive year. In 2020, exports amounted to 4 034 K $ US, reflecting a gradual year-over-year advance of 6.7%. The lowest value was recorded in 2018 at 3 650 K $ US, which also saw the largest decline of 4.7%. Over the period from 2017 to 2020, exports grew by 5.3%, with a compound annual growth rate (CAGR) of 1.8%.

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

The market base for Spain's coachwork polishes exports in value terms was diverse from 2017 to 2020. Portugal, Belgium, and the United Kingdom were the leading destinations, accounting for 16.7%, 14.5%, and 14.1% of exports, respectively. However, their combined share was just 45.4% of total flows, with the remaining 54.6% distributed among numerous other countries.

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

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

Imports coachwork polishes to Spain

Imports in kind, t

Spain's coachwork polishes imports in volume terms increased for the second year in a row. In 2020, imports reached 567 tons, showing a gradual improvement of 5.4% compared to 2019. The lowest import volume was in 2018 at 538 tons, which also experienced the largest decline of 7.9%. Over the four-year period from 2017 to 2020, imports decreased by 2.9%, with a compound annual growth rate (CAGR) of -1.0%.

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

From 2017 to 2020, Germany, France, and China were the primary sources for Spain's coachwork polishes imports in volume terms. Germany led with 34.5% of imports, followed by France at 17.3%, and China at 10.2%. Together, these three countries accounted for 61.9% of total import flows.

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

After two years of decline, Spain's coachwork polishes imports in value terms rebounded. In 2020, imports stood at 4 179 K $ US, up by 17.2% compared to the previous year. The lowest value was recorded in 2019 at 3 565 K $ US, while the largest decline occurred in 2018 with a 9.0% drop. Overall, from 2017 to 2020, imports increased by 2.9%, with a compound annual growth rate (CAGR) of 1.0%.

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

In the period from 2017 to 2020, Germany, France, and the United States formed the main cluster of markets for Spain's coachwork polishes imports in value terms. Germany accounted for 27.2% of imports, France for 19.4%, and the United States for 12.2%. Collectively, these three countries represented 58.8% of total import flows.

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

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