Epoxy resins in primary forms market in Spain

Earlier Report Observations

The market volume for epoxy resins in primary forms in Spain grew from 28 666 t in 2018 to a peak of 31 084 t in 2020, before entering a sustained decline that brought it down to 18 661 t by 2023. This contraction of over 40% from the peak occurred alongside a notable reduction in domestic production and net imports.

In value terms, the market exhibited significant volatility, with a sharp rise to 133.7 million $ in 2021 contrasting with lower physical volumes, suggesting substantial price movements. The subsequent drop to 71.4 million $ by 2023 aligned with the falling consumption in tonnage.

For 2024, factors indicate a supportive environment for demand, driven by the solid growth of the epoxy resin table market fueled by consumer interest in custom, unique furniture and the expansion of e-commerce. Concurrent product diversification into various specialized resin types for applications like fiberglass and carbon fiber adapts the supply to broader technical needs, which is reflected in the ongoing trade activity.

Production epoxy resins in primary forms in Spain

In value, 2017-2020, K $ US

In 2018, the output value of epoxy resins in primary forms in Spain reached its peak at 55 398 K $ US. This was followed by a decline to 50 223 K $ US in 2019, representing a decrease of 9.3%. In 2020, the value showed minimal change, settling at 50 416 K $ US, which was a slight increase of 8.2% compared to 2019.

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

In kind, 2017-2020, t

Production of epoxy resins in primary forms in Spain reached its lowest point in 2018 at 10 533 t. It then increased by 9.8% to 11 561 t in 2019. In 2020, production declined by 3.7% year-on-year to 11 134 t. Over the period from 2017 to 2020, overall production grew by 4.5%, with a compound annual growth rate of 1.5%.

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

Exports epoxy resins in primary forms from Spain

Exports in kind, t

Exports of epoxy resins in primary forms from Spain peaked in 2018 at 27 377 t, marking an increase of 5.2%. In 2020, export volume fell to 22 188 t, down by 14.6% compared to 2019. Over the period from 2017 to 2020, exports decreased by 14.7%, with a compound annual decline rate of 5.2%.

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

From 2017 to 2020, exports of epoxy resins in primary forms from Spain were not concentrated on a few key destinations. Germany accounted for 13.5% of exports in kind, China for 8.2%, and France for 7.6%. Together, these three countries represented only 29.3% 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, M $ US

The value of epoxy resins in primary forms exported from Spain reached its highest point in 2019 at 107.6 M $ US. In 2020, exports declined to 89.7 M $ US, a decrease of 16.6% compared to the previous year. The largest increase occurred in 2018, with a rise of 17.3%.

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

The structure of exports in value terms from 2017 to 2020 can be described as diversified. Germany accounted for 11.7% of exports in value terms, the United States for 8.6%, and Italy for 8.1%. Together, these three countries represented just 28.4% of total flows, with no single country holding a clearly dominant position.

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

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

Imports epoxy resins in primary forms to Spain

Imports in kind, t

Imports of epoxy resins in primary forms into Spain reached their maximum in 2018 at 45 510 t, representing a significant increase of 44.9%. In 2020, import volume declined to 42 138 t, a fall of 6.6% compared to 2019. Over the period from 2017 to 2020, imports increased by 34.2%, with a compound annual growth rate of 10.3%.

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

From 2017 to 2020, Germany, South Korea, and the Netherlands stood out as the main sources for imports in kind of epoxy resins in primary forms into Spain. Germany accounted for 34.8% of imports in kind, South Korea for 15.7%, and the Netherlands for 15.5%. Together, these three countries represented 66.1% 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, M $ US

The value of epoxy resins in primary forms imported into Spain peaked in 2018 at 168.8 M $ US, marking an increase of 27.7%. In 2020, imports declined to 132.0 M $ US, a decrease of 11.7% compared to the previous year.

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

From 2017 to 2020, Germany, the Netherlands, and Switzerland were the main destinations for imports in value terms of epoxy resins in primary forms into Spain. Germany accounted for 32.4% of imports in value terms, the Netherlands for 17.7%, and Switzerland for 12.0%. Together, these three countries represented 62.1% 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