ASEAN: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in ASEAN

The ASEAN polymethyl methacrylate market surged to $X in 2022, growing by 28% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +38.3% against 2019 indices. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Polymethyl Methacrylate Production in ASEAN

In value terms, polymethyl methacrylate production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 32%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Polymethyl Methacrylate Exports

Exports in ASEAN

In 2022, the amount of polymethyl methacrylate in primary forms exported in ASEAN rose to X tons, increasing by 2.1% compared with 2021 figures. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.3% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 26% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, polymethyl methacrylate exports surged to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore represented the largest exporting country with an export of around X tons, which accounted for 67% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Thailand (X tons) and Indonesia (X tons). All these countries together took near 31% share of total exports. Vietnam (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to polymethyl methacrylate exports from Singapore stood at +1.8%. At the same time, Malaysia (+14.4%), Indonesia (+13.0%), Thailand (+9.5%) and Vietnam (+6.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +14.4% from 2012-2022. Malaysia (+8.6 p.p.), Thailand (+4.7 p.p.) and Indonesia (+3 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -16.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest polymethyl methacrylate supplier in ASEAN, comprising 83% of total exports. The second position in the ranking was held by Malaysia ($X), with an 8.9% share of total exports. It was followed by Thailand, with a 4.7% share.

In Singapore, polymethyl methacrylate exports expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+8.0% per year) and Thailand (-1.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, with an increase of 31% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 36% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%), while the other leaders experienced a decline in the export price figures.

Polymethyl Methacrylate Imports

Imports in ASEAN

In 2022, purchases abroad of polymethyl methacrylate in primary forms increased by 29% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 47%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, polymethyl methacrylate imports soared to $X in 2022. Over the period under review, imports recorded a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons) represented the largest importer of polymethyl methacrylate in primary forms, generating 41% of total imports. Malaysia (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (14%), Vietnam (11%) and Thailand (11%). The Philippines (X tons) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the polymethyl methacrylate in primary forms imports, with a CAGR of +38.3% from 2012 to 2022. At the same time, the Philippines (+18.6%), Vietnam (+9.5%), Thailand (+4.3%) and Indonesia (+2.0%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Singapore (+38 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Indonesia and Malaysia saw its share reduced by -5.3%, -11.6% and -24% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in ASEAN, comprising 47% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Thailand, with a 12% share.

In Singapore, polymethyl methacrylate imports expanded at an average annual rate of +36.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+2.4% per year) and Thailand (+1.3% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 18% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform