Steady increase in production and sales, transformation support is still insufficient.
Recently, the Spanish Federation of Chemical Companies (Feique) released statistics. Compared with 2023, 2024 Spanish chemical sales are expected to grow by 4.8%. Reaching 86.5 billion euros. And production is expected to grow by 7.1%.
Feique forecasts that Spain’s chemical sales will grow by 4.2% in 2025 compared to 2024. Making the country’s chemical sales exceed the 90 billion euro mark for the first time. At the same time, chemical production will grow by 3.2%. Relative to the rest of Europe, especially France, Germany, Italy and other traditional economic powerhouses, Spain this year’s chemical industry and macroeconomic data is very impressive. However, the Spanish industry also suggests that the Spanish chemical industry, there are some hidden concerns worth noting and resolving.
Spain’s good chemical industry data first thanks to the macroeconomic. Recently, the International Monetary Fund (IMF) raised Spain’s GDP growth forecast for 2024 to 2.9% from 2.4% in July. This is one percentage point higher than the forecast made a year ago.In 2025, Spain’s GDP is expected to grow by 2.1%. Thus, in both 2024 and 2025, Spain’s economy will grow at a much higher rate than the eurozone’s two largest economies, Germany and France. Forecasts, also from the IMF, show that the German economy will experience zero growth in 2024, while France’s economic growth rate will be 1.1%.
In Spain, healthy macroeconomic data has filtered through well to the chemical industry. strong domestic demand in 2024, as well as a recovery in exports, has seen the sector weather the storm better compared to its counterparts in other major eurozone economies.