The Spanish tile industry faces 2026 amidst a recovery in profitability and a projected 20% increase in bankruptcy filings.

Analysis of the Ceramic Sector

The Spanish ceramic sector consolidated a moderate recovery in 2025, but faces a 2026 marked by geopolitical uncertainty and rising energy costs. A report by Solunion warns of a possible increase of up to 20% in insolvency proceedings and a default risk 58% higher than the national average.

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The Spanish ceramics sector, a pillar of the national export industry, consolidated a moderate recovery in 2025, but faces a highly complex 2026, marked by geopolitical uncertainty and rising energy costs. According to a recent sector report by SolunionAccording to the credit insurance specialist, insolvency proceedings could increase between 15% and 20% this year, while the probability of a sale ending in default is already 58% higher than the average. España.

The analysis, prepared by Rocío LleóAnalyst, Levante Zone Solunion EspañaThis reveals the duality of a sector that, while improving its margins and production, remains exposed to significant volatility. Turnover grew by 1% in 2025 to €4.834 billion and production by 2,7%, but tensions in Oriente Medio And the rising cost of gas, which has increased by as much as 70%, affects short-term stability.

Moderate recovery in 2025 with a change in export trends

The 2025 data shows an industry that managed to stabilize after the energy crisis. Turnover, although far from the 2022 levels, when it exceeded €5.500 billion, experienced a slight increase. Exports, meanwhile, remained practically stable with a growth of 0,2%. However, the report by Solunion highlights a significant change in the destination mapTraditional markets such as Estados Unidos (-1%), Francia (-5,8%) And Italia (-4,3%) declined, while others such as Israel (+ 17,1%), Marruecos (+13,2%) and Portugal (+ 6,4%) They gained considerable prominence, compensating for the decline.

In terms of production, the volume reached 427 million square meters, a 2,7% increase, consolidating the trend that began in 2024. Employment also rebounded by 1,4%, reaching 15.939 workers. However, the study warns of an aging workforce, with an average age of 46, which could pose a challenge for generational renewal in the future.

Profitability soars despite weak demand

One of the most positive findings of the analysis is the remarkable recovery in profitability in 2024 and 2025. The EBITDA of the top 10 operators in the sector—which includes giants such as Porcelanosa, Halcón, Pamesa o Argenta Cerámica— It was positioned in 2025 above the average of the last four years (+14%). This improvement is mainly attributed to the containment of energy costs during that period and efficient internal management, despite still weak demand and the need to liquidate stock to generate cash, sacrificing part of the margin.

“This improvement in profitability also reflects a remarkable ability of companies in the sector to adapt to market demands,” the report states. This adaptability has been supported by aid from Ministerio de Industria and Generalitat Valencianaas well as by European funds Next Generation.

Uncertainty in 2026: Energy costs and geopolitical tensions set the pace

The scenario for 2026 appears more complex. The conflict in Oriente Medio is directly impacting the industry through gas price increase (up to +70%)The rise in maritime freight rates (over 11%) and the blockage of key trade routes such as the Strait of Hormuz are affecting demand in markets such as Emiratos Árabes Unidos, Arabia Saudí o Jordania.

These challenges are compounded by the competition from indian marketwhich operates with significantly lower costs and tariffs, and the stringent European environmental regulations with the reduction of free CO₂ allowances, which require heavy investments in electrification and efficiency. Nevertheless, Solunion forecasts a year of moderate growth, driven by the recovery of strategic markets such as Francia y Reino Unido, where a stabilization of the renovation and construction sector is expected.

The specter of insolvency: Defaults increase in the first four months

After a 16,2% reduction in insolvencies during 2025, the first months of 2026 have seen a worrying increase. The default rate of Solunion The report reveals a new wave of claims, raising the sector's risk well above the national average. "Currently, the probability of one euro of sales in the sector becoming a default is 58% higher than the Spanish average," the report concludes.

Although larger companies filed for bankruptcy in 2025, increasing the average turnover of the affected companies, micro-enterprises and SMEs remain the most vulnerable to liquidity problems.

Source: Solunion

Year	2022	2023	2024	2025	Jan-Apr 2026
Number of insolvencies	34	19	37	31	10

Key points and frequently asked questions about the situation of the Spanish tile sector

How does the Middle East crisis affect Spanish tile exporters?

The crisis has a direct and multifaceted impact. First, it drives up energy costs, especially for gas, a critical production expense. Second, it increases maritime freight costs by more than 11% and creates blockages on trade routes such as the Strait of Hormuz. This makes sales to key markets in the region more difficult and expensive. Emiratos Árabes Unidos o Arabia Saudí.

Which foreign markets present the best opportunities for the ceramic sector in 2026?

Despite the weakness of some traditional markets, the report from Solunion points to a recovery in demand in Francia y Reino Unido as an engine for 2026, driven by residential reform and public renewal policies. In addition, non-traditional markets such as Israel, Marruecos y Portugal They have demonstrated very robust growth and are consolidating themselves as high-potential destinations.

Why does the risk of default increase if the sector's profitability has improved?

The apparent contradiction stems from the fragility of the value chain. Although large manufacturers have improved their EBITDA thanks to efficient management, overall demand remains weak and costs (energy, logistics) are highly volatile in 2026. This puts pressure on the liquidity of smaller companies, distributors, and end customers, who are ultimately the ones most likely to default. Improved profitability for producers does not always translate into greater financial strength across the entire sector ecosystem.