Updated Nov 22, 2022 16:36

Market for Refractory Products of Siliceous or Diatomite Earths in Spain

Market Overview
The Spanish market for refractory products of siliceous or diatomite earths was finally on the rise to reach $ in , after two years of decline. Overall, consumption saw a temperate increase. As a result, consumption attained the peak level of $. From 2019 to , the growth of the market remained at a lower figure.

In value terms, production of refractory products of siliceous or diatomite earths totaled $ in estimated in export price. Over the period under review, production saw a significant expansion. The pace of growth was the most pronounced in 2008 when the production volume increased by %. Production of peaked at $ in 2018; however, from 2019 to , production remained at a lower figure.


Consumption
Consumption of refractory products of siliceous or diatomite earths in Spain fell modestly to tons in , leveling off at the previous year's figure. Over the period under review, consumption, however, showed a noticeable expansion. As a result, consumption reached the peak volume of tons. From 2019 to , the growth of the consumption of remained at a somewhat lower figure.

The size of the market for refractory products of siliceous or diatomite earths in Spain fell to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a slight increase. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market failed to regain momentum.


Market Forecast
The market for refractory products of siliceous or diatomite earths is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Spain domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Spain remains a net exporter of refractory products of siliceous or diatomite earths; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.