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 3,072 companies, with a turnover of €66.4 bn in 2019, and provides 697,000 direct and indirect jobs.
With an accumulated 34% growth in revenue in the period between 2007 and 2019, this industry represents 13.4% of Spain's Gross Industrial Product and 5.8% of its GDP.
It is also the second most important export category, with €38.474 bn exported to international markets in 2019. 57.9% 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.
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 (41 countries) and ranks fourth in the number of new projects by multinationals (2003-2020, FDI markets data).
Source: FDI Markets.