ASEAN: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in ASEAN

The ASEAN acrylic acid esters market rose significantly to $X in 2022, with an increase of 6.9% against the previous year. Over the period under review, consumption continues to indicate a remarkable increase. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Acid Esters Production in ASEAN

In value terms, acrylic acid esters production stood at $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Acid Esters Exports

Exports in ASEAN

In 2022, acrylic acid esters exports in ASEAN fell sharply to X tons, with a decrease of -35.4% compared with the previous year's figure. Over the period under review, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 91%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, acrylic acid esters exports dropped markedly to $X in 2022. In general, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by 152% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia represented the largest exporting country with an export of about X tons, which recorded 78% of total exports. It was distantly followed by Indonesia (X tons), committing a 17% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of esters of acrylic acid. Indonesia (-3.5%) and Singapore (-17.0%) illustrated a downward trend over the same period. While the share of Malaysia (+18 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-16.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest acrylic acid esters supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was held by Indonesia ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia stood at -1.4%. In the other countries, the average annual rates were as follows: Indonesia (+2.4% per year) and Singapore (-15.8% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, jumping by 26% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Acrylic Acid Esters Imports

Imports in ASEAN

In 2022, approx. X tons of esters of acrylic acid were imported in ASEAN; waning by -4.4% against the year before. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 48%. As a result, imports attained the peak of X tons, and then declined slightly in the following year.

In value terms, acrylic acid esters imports reached $X in 2022. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 112%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the four major importers of esters of acrylic acid, namely Indonesia, Thailand, Vietnam and Malaysia, represented more than two-thirds of total import. Singapore (X tons) held the next position in the ranking, followed by the Philippines (X tons). All these countries together took near 18% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +16.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 69% of total imports. Singapore, Malaysia and the Philippines lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Malaysia, with a CAGR of +14.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, increasing by 6.7% against the previous year. In general, the import price saw modest growth. The most prominent rate of growth was recorded in 2021 when the import price increased by 44%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform