Iron or steel reservoirs and tanks with capacity >300 l market in Spain

Earlier Report Observations

The Spanish market for iron or steel reservoirs and tanks grew in both volume and value between 2018 and 2024. Volume increased from 96.6 thousand tons to 158.4 thousand tons, while value rose from $398.4 million to $741.7 million. After stability in 2018-2019 and a contraction in 2020, the market recovered in 2021 and surged in 2022 to 146.8 thousand tons. This jump was largely attributable to the expansion of hydrocarbon storage infrastructure, specifically new terminals in Cartagena and Málaga that added over 660 000 m³ of capacity and required significant steel tank installations.

Regulatory developments consistently influenced the market landscape. The publication and enforcement of the Structural Steel Instruction (EAE) in 2022 harmonized national design and safety standards with European regulations, affecting tank manufacturing. Looking ahead, the anticipated entry into force of the new Structural Code in 2024, which will supersede the EAE, introduced updated technical provisions focused on structural safety and environmental protection, further shaping production norms for steel reservoirs and tanks.

Production iron or steel reservoirs and tanks with capacity >300 l in Spain

In value, 2017-2020, M $ US

Spain's production of iron or steel reservoirs and tanks with capacity over 300 liters experienced a decline after two years of growth. In 2019, output reached its peak at 594.6 million US dollars, but by 2020 it had fallen to 560.5 million US dollars, marking a 5.7% decrease compared to the previous year. The most significant increase occurred in 2018, when production rose by 3.0%.

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

In kind, 2017-2020, K t

Production of iron or steel reservoirs and tanks with capacity over 300 liters in Spain has been declining for three consecutive years. In 2020, output stood at 129.1 thousand tons, reflecting a substantial 13.6% drop from the previous year. Over the period from 2017 to 2020, production decreased by 16.1%, which translates to an average annual decline of 5.7%.

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

Exports iron or steel reservoirs and tanks with capacity >300 l from Spain

Exports in kind, t

Spain's exports of iron or steel reservoirs and tanks with capacity over 300 liters have fallen for two years in a row. In 2020, the country exported 47 873 tons, representing a 19.1% decrease compared to 2019. Over the 2017-2020 period, exports declined by 18.5%, with an average annual reduction of 6.6%. The highest export volume was recorded in 2018 at 62 860 tons, which also saw the largest increase of 7.0% that year.

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

Between 2017 and 2020, Spain's exports of iron or steel reservoirs and tanks with capacity over 300 liters were distributed across a diverse range of partners. Germany accounted for 11.6% of exports, France for 7.5%, and Morocco for 6.2%, together making up just 25.2% of total flows. The remaining 74.8% was spread among numerous smaller markets.

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

Spain's export value of iron or steel reservoirs and tanks with capacity over 300 liters has decreased for the second consecutive year. In 2020, exports amounted to 161.5 million US dollars, down 6.4% from the previous year. Over the 2017-2020 period, export value fell by 17.8%, with an average annual decline of 6.3%. The peak was in 2018 at 210.7 million US dollars, which also saw the largest increase of 7.3%. The most significant drop occurred in 2019, with an 18.1% decrease.

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

From 2017 to 2020, Spain's export value of iron or steel reservoirs and tanks with capacity over 300 liters was not heavily concentrated on a few key destinations. France represented 12.7% of exports, Germany 8.6%, and Saudi Arabia 8.1%, together accounting for only 29.5% of total flows.

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

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

Imports iron or steel reservoirs and tanks with capacity >300 l to Spain

Imports in kind, t

Spain's imports of iron or steel reservoirs and tanks with capacity over 300 liters have declined for three consecutive years. In 2020, imports totaled 4 376 tons, a sharp 31.8% decrease compared to 2019. Between 2017 and 2020, imports fell by 57.4%, equating to an average annual decline of 24.7%.

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

From 2017 to 2020, Germany, Portugal, and France remained the primary suppliers of iron or steel reservoirs and tanks with capacity over 300 liters to Spain. Germany accounted for 27.4% of imports, Portugal for 20.6%, and France for 11.6%, together forming 59.6% of total imports in kind.

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

After two years of growth, Spain's import value of iron or steel reservoirs and tanks with capacity over 300 liters declined. In 2020, imports were valued at 18.5 million US dollars, down 47.9% from the previous year. Over the 2017-2020 period, import value decreased by 25.2%, with an average annual decline of 9.2%. The highest value was recorded in 2019 at 35.5 million US dollars, which also saw the largest increase of 22.1% that year.

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

Between 2017 and 2020, Spain's import value of iron or steel reservoirs and tanks with capacity over 300 liters was distributed across a wide set of partner countries. Germany accounted for 19.6% of imports, Portugal for 14.0%, and France for 13.7%, together making up just 47.3% of total flows.

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

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