PP in primary forms market in Spain

Earlier Report Observations

The Spanish market for polypropylene in primary forms contracted in volume from 840 thousand tons in 2018 to 752 thousand tons in 2024. This overall decline was punctuated by a temporary rebound in 2021 and 2022, when consumption exceeded 790 thousand tons, before decreasing again.

Market value exhibited higher volatility, surging to $1.4 billion in 2021 amid rising prices despite modest volume growth. Values subsequently retreated, mirroring the volume trend in later years. Spain's position as a relevant destination for propylene polymer trade remained a constant feature throughout the period.

The reduction in market size was accompanied by declines in domestic production, imports, and exports after 2022, indicating a broad-based adjustment in supply and demand conditions within the Spanish market.

Production PP in primary forms in Spain

In value, 2017-2020, M $ US

Spain's production of polypropylene in primary forms declined for the second consecutive year. In 2020, output was valued at 1 078 million US dollars, representing a 17.1% decrease compared to the previous year. Between 2017 and 2020, production fell by 17.5%, which translates to an annualized decline of 6.2%. The highest value was recorded in 2018 at 1 454 million US dollars, with the largest year-over-year increase of 11.3% also occurring that year.

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

In kind, 2017-2020, K t

Following two years of growth, Spain's production of polypropylene in primary forms declined. In 2020, the country produced 967.6 thousand tonnes, marking a 3.2% decrease from 2019. The peak production volume was recorded in 2019 at 999.5 thousand tonnes, while the largest increase of 3.9% occurred in 2018.

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

Exports PP in primary forms from Spain

Exports in kind, K t

In 2020, Spain's exports of polypropylene in primary forms reached 465.6 thousand tonnes, showing a modest increase of 4.3% compared to 2019. Over the period from 2017 to 2020, exports grew by 11.2%, with a compound annual growth rate of 3.6%. The largest decline of 1.0% was recorded in 2019, while the most significant increase of 7.7% took place in 2018.

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

Between 2017 and 2020, three main markets—Portugal, France, and Italy—collectively accounted for 58.2% of Spain's total exports of polypropylene in primary forms by volume.

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 exports of polypropylene in primary forms declined for the second consecutive year. In 2020, export value stood at 528.4 million US dollars, which is 10.4% lower than in 2019. From 2017 to 2020, exports decreased by 6.4%, equivalent to an annualized decline of 2.2%. The highest export value was recorded in 2018 at 680.2 million US dollars, with the largest decline of 13.3% occurring in 2019 and the most substantial increase of 20.5% taking place in 2018.

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

From 2017 to 2020, Portugal, France, and Italy were the main markets for Spain's polypropylene exports by value, accounting for 22.1%, 19.7%, and 16.1% of total exports, respectively. Together, these three countries represented 57.9% of Spain's total export flows in value terms.

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

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

Imports PP in primary forms to Spain

Imports in kind, K t

Spain's imports of polypropylene in primary forms declined for the second consecutive year. In 2020, import volume was approximately 215.5 thousand tonnes, reflecting a significant decrease of 13.4% compared to 2019. Between 2017 and 2020, imports fell by 10.5%, with a compound annual decline of 3.6%. The highest import volume was recorded in 2018 at 291.9 thousand tonnes, with the largest decline of 14.8% occurring in 2019 and the most notable increase of 21.2% taking place in 2018.

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

The structure of Spain's imports by volume from 2017 to 2020 shows a diversified set of trading partners. France, Saudi Arabia, and Belgium accounted for 16.8%, 11.6%, and 10.0% of imports, respectively, totaling 38.5% of overall flows. The remaining 61.5% was distributed among numerous smaller markets.

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

Spain's imports of polypropylene in primary forms declined for the second consecutive year. In 2020, import value was 301.8 million US dollars, representing a substantial reduction of 22.3% compared to 2019. Between 2017 and 2020, imports decreased by 20.8%, equivalent to an annualized decline of 7.5%. The highest import value was recorded in 2018 at 445.2 million US dollars, with the largest increase of 16.9% also occurring that year.

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

From 2017 to 2020, Spain's import structure by value remained highly diversified. France, Germany, and Belgium accounted for 13.8%, 12.6%, and 11.8% of imports, respectively, totaling just 38.2% of overall flows. No single trading partner emerged as clearly dominant 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