The production of the basic chemicals sector in Spain stood at €12.12 billion in 2023. Historically, the sector has seen fluctuations with significant growth periods, such as from 2014 to 2015 (2.52%), and notable declines, particularly in 2020 (-18.23%). The last two years have shown positive growth with 6.27% in 2023 and 8.65% in 2022. Over the past five years, the production achieved an average yearly growth rate of 1.71% with a forecasted positive trajectory aiming for €13.5 billion by 2028, reflecting about an 8.83% increase over five years.
Key future trends to watch for include:
- Shifts in global demand for basic chemicals impacting local production levels.
- Innovation and advancements in chemical production technology.
- Environmental regulations affecting operational processes and costs.
- Economic factors and geopolitical issues influencing supply chain stability.
