Tools for turning market in Spain

Earlier Report Observations

The market for turning tools in Spain, measured in volume, contracted from 356 t in 2018 to 219 t in 2020. In value terms, the market peaked at 21.8 million US dollars in 2019 before falling to 17.9 million US dollars the following year, reflecting a period of adjustment in both physical consumption and monetary turnover.

From 2021 onwards, import volumes continued a steady downward trend, reaching 112 t by 2024. Conversely, export volumes showed significant growth, surging to 198 t in 2024. This shift was supported by the global expansion of the cutting tools market and increased demand for metal components, which bolstered the turning segment and domestic production capabilities for export.

The availability of a wide variety of turning tools, including those made from high-speed steel, cobalt, and carbide, catered to diverse machining needs. Furthermore, the growing emphasis on precision and quality in key industrial sectors such as automotive and aerospace underpinned the market's development during this period.

Production turning tools in Spain

In value, 2017-2020, K $ US

Spain's production of tools for turning, measured in monetary value, declined after two years of growth. In 2019, output reached its peak at 5 968 K $ US, but by 2020 it had fallen to 4 061 K $ US, representing a 31.9% decrease from the previous year. Over the period from 2017 to 2020, production decreased by 26.5%, which translates to an annualized decline rate of 9.8%. The largest year-on-year increase occurred in 2019, at 5.2%.

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

In kind, 2017-2020, t

In terms of physical volume, Spain produced 113.8 tonnes of tools for turning in 2020, which was 44.6% lower than the 205.4 tonnes recorded in 2019. From 2017 to 2020, production decreased by 39.2%, with a compound annual growth rate (CAGR) of -15.3%. The highest production volume was achieved in 2019, and the largest year-on-year increase also occurred that year, at 15.9%.

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

Exports turning tools from Spain

Exports in kind, t

Export volumes of tools for turning from Spain showed an unstable trend over the period. In 2018, exports hit their lowest point at 40.6 tonnes, but by 2020 they had risen to 83.9 tonnes, marking a 14.7% increase from 2019. The peak in 2020 was 2.1 times higher than the trough in 2018. The largest decline was recorded in 2018 at 15.0%, while the largest increase occurred in 2019, reaching 80.3%.

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

From 2017 to 2020, Spain's exports of tools for turning in physical terms were highly diversified. The top three destinations—France (24.2% of exports), Tunisia (14.1%), and Portugal (11.2%)—together accounted for 49.5% of total flows. The remaining 50.5% was distributed among a long tail of 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, K $ US

The monetary value of Spain's exports of tools for turning experienced noticeable fluctuations during the period. In 2018, exports reached their highest point at 6 801 K $ US, but by 2020 they had dropped to 2 266 K $ US, a 58.1% decrease from the previous year. The peak in 2018 was three times higher than the trough in 2020. The largest year-on-year increase was recorded in 2018 at 80.0%.

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

In value terms, Spain's exports of tools for turning from 2017 to 2020 were led by Mexico (21.5% of exports), France (19.4%), and Germany (16.4%). Together, these three countries represented 57.4% of total export 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 turning tools to Spain

Imports in kind, t

Spain's imports of tools for turning in physical volume declined for the second consecutive year. In 2020, imports stood at 189.3 tonnes, down 13.6% from 2019. Over the period from 2017 to 2020, imports decreased by 12%, with a compound annual growth rate (CAGR) of -4.2%. The highest import volume was recorded in 2018 at 219.4 tonnes, and the largest year-on-year increase also occurred that year, at 2.0%.

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

From 2017 to 2020, Spain's imports of tools for turning in physical terms were concentrated among a few key suppliers. Germany (41.2% of imports), Portugal (22.1%), and Belgium (9.6%) together accounted for 72.9% of total import flows, making them the main sources for these tools.

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

Spain's imports of tools for turning, measured in monetary value, fell for the second year in a row. In 2020, imports were recorded at 16 109 K $ US, a sharp decline of 24.0% compared to 2019. Between 2017 and 2020, imports decreased by 20.4%, equivalent to an annualized rate of 7.3%. The maximum value was reached in 2018 at 21 689 K $ US, and the largest year-on-year increase also occurred that year, at 7.2%.

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

In value terms, Spain's imports of tools for turning from 2017 to 2020 were dominated by Belgium (57.7% of imports), Germany (18.4%), and Italy (6.0%). This group of three countries together represented 82.1% 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