The polyurethanes market in Spain has experienced fluctuations over the past decade, with notable decreases in 2013 and 2014 by -5.16% and -5.45% year-on-year respectively, followed by a significant increase of 15.42% in 2015. From 2016 to 2023, the market showed variable changes, peaking in 2018 with 117.55 million kilograms. In 2023, the market volume stood at 111.66 million kilograms, marking a -0.9% change year-on-year. The overall Compound Annual Growth Rate (CAGR) from 2018 to 2023 has been -1.02%.
Moving forward, the forecast indicates a steady decline with an average annual decrease of -0.72% from 2024 to 2028, translating to a total projected decrease of -3.53% over this five-year period. By 2028, market volume is expected to decrease to 106.76 million kilograms.
Future trends to watch for include the impact of advancements in polyurethane recycling technologies and the increasing emphasis on sustainability, which may alter demand patterns. Additionally, regulatory changes related to environmental standards and the economic impact of supply chain disruptions due to geopolitical factors could also influence market dynamics.
