A most attractive industry for international investors
The Spanish chemical sector is a strategic industry in the country's economy and an important generator of wealth and employment, as it comprises over 3,103 companies, with a turnover of €82.5 bn in 2023, and generates 792,200 quality jobs, of which 233,000 are directly employed by the industry.
With an accumulated 55% growth in revenue in the period between 2010 and 2023, this industry represents 14,3% of Spain's Gross Industrial Product and 6,1% of Spanish GDP in 2023.
It is also the second most important export category, with €59.6 bn exported to international markets in 2023. 72.4% of Spain's chemical production is exported.
Employment created by the chemical industry is stable – 94% of contracts are permanent – and it is one of the industries with the highest level of productivity per employee.
Spain’s Chemical Sector is one of the largest investors in R&D&I of the manufacturing industry, with more than €2 billion investment/year that accounts for 25% of total industrial investment in R&D&I and 20% of research staff recruited in 2023.
The chemical industry supplies products that are used in 98% of the productive processes in the economy.
This is one of the industrial sectors predicted to experience the fastest growth worldwide. The increase in production that will be needed to satisfy new international demand is estimated at 4.5% year-on-year until 2030.
Spain is the preferred destination for chemical industry RDI projects in Europe (44 countries) and ranks fourth in the number of new projects by multinationals in EU, (2003-2023, FDI markets data)
Source: Feique / FDI Markets.