Sulphuric acid and oleum market in Spain

Earlier Report Observations

From 2018 to 2024, the Spanish sulphuric acid and oleum market volume experienced significant fluctuations, starting at 1.18 million tons in 2018 and reaching a peak of 1.53 million tons in 2024. The most pronounced contraction occurred in 2020 when volume fell to 963 thousand tons, followed by a strong recovery to 1.43 million tons in 2021. After moderate declines in 2022 and 2023, the market rose again sharply in 2024 to its highest level in the period.

The market's dynamics were influenced by shifts in domestic production and international trade. Production dropped to 1.70 million tons in 2020 before rebounding, while exports nearly halved from 1.10 million tons in 2018 to 454 thousand tons in 2024, increasing net domestic availability. In 2022, Spain's export flows rapidly realigned, with the United States, Brazil, and Portugal emerging as the fastest-growing destinations for Spanish sulphuric acid and oleum.

In value terms, the market followed a distinct trajectory due to price movements, peaking at $169.8 million in 2022 despite a lower physical volume that year. This indicated significantly higher unit prices, particularly in 2022, before values moderated to $128.8 million in 2024.

Production sulphuric acid and oleum in Spain

In value, 2017-2020, M $ US

Spain's sulphuric acid and oleum production value declined for the second consecutive year. In 2020, output was valued at 94.4 million US dollars, marking a significant drop of 18.8% from the previous year. Over the 2017-2020 period, production increased by 24.8%, with a compound annual growth rate of 7.7%. The highest value was recorded in 2018 at 117.6 million US dollars, which also saw the largest annual increase of 55.4%.

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

In kind, 2017-2020, K t

After two years of growth, Spain's sulphuric acid and oleum production volume declined. In 2020, production reached 1 700 thousand tonnes, representing a decrease of 15.3% compared to 2019. Over the 2017-2020 period, production fell by 11.4%, with a compound annual growth rate of -4.0%. The peak volume was recorded in 2019 at 2 007 thousand tonnes, while the largest annual increase occurred in 2018 at 4.4%.

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

Exports sulphuric acid and oleum from Spain

Exports in kind, K t

Spain's sulphuric acid and oleum export volumes declined for the third consecutive year. In 2020, exports totalled 996 thousand tonnes, showing a modest contraction of 2.0% compared to 2019. Over the 2017-2020 period, exports decreased by 11.3%, with a compound annual growth rate of -3.9%.

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

From 2017 to 2020, Morocco (25.2% of export volume), the United States (23.0%), and Brazil (16.8%) were the top buyers of Spanish sulphuric acid and oleum. Together, these three countries accounted for 65.0% of total export 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, K $ US

Export values showed considerable volatility during this period. The lowest point was recorded in 2017, while volumes peaked in 2019, with a 2.7-fold difference between these years. In 2020, Spain exported 41 642 thousand US dollars worth of sulphuric acid and oleum, representing a steep decline of 41.6% from the previous year. The maximum value was recorded in 2019 at 71 254 thousand US dollars, and the largest annual increase occurred in 2018 at 95.4%.

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

Throughout 2017-2020, the United States (21.1% of export value), Morocco (16.6%), and Brazil (15.3%) remained the key destinations for Spanish sulphuric acid and oleum exports. Together, these three markets accounted for 53.0% of total export value.

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

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

Imports sulphuric acid and oleum to Spain

Imports in kind, K t

After two years of growth, Spain's sulphuric acid and oleum import volumes declined. In 2020, imports reached 258 thousand tonnes, constituting a substantial decrease of 13.8% compared to 2019. Over the 2017-2020 period, imports decreased by 7.4%, with a compound annual growth rate of -2.5%. The highest volume was recorded in 2019 at 299 thousand tonnes, which also saw the largest annual increase of 6.5%.

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

During 2017-2020, two leading markets—Germany and Italy—together accounted for 91.8% of Spain's total sulphuric acid and oleum import volume. The remaining volume was distributed across a wide range of other countries.

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 increase, Spain's sulphuric acid and oleum import value declined. In 2020, imports amounted to 15 677 thousand US dollars, marking a decrease of 15.8% from the previous year. Over the 2017-2020 period, imports increased by 35.1%, with a compound annual growth rate of 10.5%. The maximum value was recorded in 2019 at 18 610 thousand US dollars, while the largest annual increase occurred in 2018 at 39.8%.

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

From 2017 to 2020, Italy and Germany together captured 88.3% of Spain's total sulphuric acid and oleum import value. The remaining flows were spread thinly across other markets.

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

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