Spain's chemicals market analysis: Trade Outlook

 Spain is the most prominent market for chemical exports. Spain is among the top exporters of chemicals globally. Over 55% of Spain's chemical production is exported. Spain's chemical exports are mostly served for pharmaceuticals, petrochemicals, automobiles, textiles, machinery, food and beverages.

According to Spain import export data, there was a decline of 23% in Spain's chemical exports compared to FY 2022. In 2023, Spain inorganic chemicals exports were estimated to be $1.6 billion. The leading destinations for Spain's inorganic chemicals exports were France and Portugal. France represents 17% of Spin's overall inorganic chemicals exports.

The fastest growing markets for Spain's inorganic chemicals exports were the Netherlands, Brazil, Norway and Italy. Derivados Del Fluor, Minera De Santa Marta, Manuchar and Haifa Negev Technologies were the leading inorganic chemicals export companies from Spain. In terms of organic chemicals, there was 21% growth in organic chemicals exports from Spain.

As per Spain export data, around $8.5 billion worth of organic chemicals exports were recorded in fiscal year 2023. Panama was the biggest market for Spain's organic chemicals exports worth over $2 billion last year. Among the fastest growing markets for Spain chemicals were Ireland, Belgium, France and Germany. 

On the other hand, Spain's pharmaceutical sector saw a drop of 22% last year. For the financial year 2023, Spain's pharmaceutical exports stood at around $20 billion. Belgium was the biggest market for Spain's pharmaceutical exports worth over $4.8 billion in 2023.

Among the fastest growing markets for Spain's pharmaceutical exports were Switzerland, Germany, China, France and Italy. 

Fertilizers were other key chemicals exported from Spain. In 2023, Spain exported over $1.6 billion. The leading destinations for Spain's fertilizers exports were Portugal ($220 Million), France ($205 Million), Brazil ($115 Million) and Morocco ($80 Million) respectively. Atlantica Agricola, Eurofertilizantes Valencianos and Fertinagro Biotech were the leading fertilizers export companies from Spain with maximum number of shipments.

In terms of Spain's essential oils and cosmetics sector, Spain's export earnings were recorded to be $7.4 billion during fiscal year 2023. France was the top importer of essential oils from Spain with imports worth $870 million. Other prominent destinations for Spain's essential oils exports were Germany, United States, Portugal and Italy. Products Capilares Loreal, Antonio Puig and ISDIn were the leading cosmetics export companies from Spain.

Spain’s other notable chemicals exports were Dyes ($3 Billion), Soaps ($2 Billion), Starch ($500 Million) and Explosives ($130 Million). Spain’s majority of the chemical exports went to European Union countries. In terms of imports, Spain's overall chemical imports accounted for 67 billion euros during last fiscal year. 

Spain import data suggests that the most favoured destinations by Spain for Chemical imports were the United Kingdom, United States, Netherlands, Germany, France and Belgium. Soda World, UBE Corporation Europe, Mario Pilato Blat and Nyrstar were the leading chemical companies responsible for the maximum amount of chemical import shipments last year.

Spanish companies which are involved in the chemical sector can extend their business through global import export data providers. With trade intelligence reports, businesses can find top traded chemical items, most demanded chemical products from Spain, top importing marketplaces, leading Spanish companies and genuine international buyers. Global trade data is the best way to extend chemical sales from Spain to more diverse markets. It is the most smarter approach to beat your competition.