The marine fuel imports to Spain stood at 143.73 Thousand Metric Tons in 2023. The overall trend from 2013 to 2023 demonstrates significant fluctuations, peaking in 2014 and generally declining thereafter. Noteworthy has been the sizable year-on-year increase of 87.92% in 2014, followed by a prominent decline. Despite some intermittent increases, the recent years exhibit a downward trend with marginal decreases of 1.28% and 1.38% in 2022 and 2023, respectively.
From 2024 onward, the forecasted data indicates a consistent downward trajectory with an average annual decrease of 1.14%, translating to a cumulative drop of 5.58% over the next five years.
Future trends to watch for:
- Regulatory changes impacting marine fuel specifications to reduce environmental impacts.
- Advancements in alternative marine propulsion technologies, such as LNG or electric-powered vessels, potentially curbing traditional fuel demand.
- Economic factors affecting maritime trade volumes, influencing fuel consumption needs.