Spain’s chemical industry is a sector that generates wealth and employment for over 3,000 companies, and is also an important appeal for foreign investment in the country.
Figures 2016 and International Projection
With a turnover of €59,020 Million in 2016 the sector accounts for 12.9% of the Gross Industrial Output and creates over 540,000 direct, indirect or induced jobs. What’s more, roughly 94% of employees are on permanent contracts. Despite the international crisis the sector has accumulated in 2016 a 19% growth since 2007.
It is also the second largest exporter in Spain, reaching sales of over €32,473 Million on international markets, which now receive over 57% of Spain’s production. The chemical industry comprises several sectors and produces raw materials that supply 98% of the country’s productive economic activity.
Another key competitive factor that encourages potential investors is the country’s innovative and technological capacity. The chemical industry accounts for 24.9% of all investments made by Spanish industry as a whole in R&D and employs 21.1% of the research staff working in industrial companies. Both factors make it a strategic, competitive sector with international projectino.
It is the sector among all industries with the highest expenditure in technological research and development in Spain.
As a result the country is attracting a great number of innovative projects. According to the International Data Base FDI Markets, Spain ranks 2nd destination for Research & Development projects and 5th destination for New Chemical projects of Multinationals in Europe (period 2004 – 2016).
Spain is home to the largest chemical cluster in the Mediterranean area and southern Europe: ChemMed in Tarragona. Andalusia also has two large clusters in Huelva and Algeciras, while the Valencian Community and Murcia are significant chemical focus points in the Mediterranean. The north of Spain also boasts strategic points in the Basque Country, Cantabria and Asturias. Other important areas include Madrid, Aragon, Castile and Leon, and Castilla la Macha.
Source: ICEX – Invest in Spain