Asia: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Asia

In 2021, the Asian market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Asia

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports in Asia

For the tenth year in a row, Asia recorded growth in shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), which increased by 9.5% to X tons in 2021. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.2% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 20% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) skyrocketed to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), China (X tons) and Japan (X tons) represented roughly 61% of total exports in 2021. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by Turkey (X tons) and Malaysia (X tons). All these countries together held near 24% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplying countries in Asia were South Korea ($X), China ($X) and Japan ($X), together comprising 63% of total exports. These countries were followed by Taiwan (Chinese), Malaysia, Turkey and Singapore, which together accounted for a further 28%.

In terms of the main exporting countries, Malaysia, with a CAGR of +18.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 16% against the previous year. In general, the export price, however, saw a noticeable shrinkage. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.8%), while the other leaders experienced a decline in the export price figures.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports in Asia

For the tenth consecutive year, Asia recorded growth in supplies from abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), which increased by 8.6% to X tons in 2021. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.5% against 2012 indices. The growth pace was the most rapid in 2016 with an increase of 18%. Over the period under review, imports of hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the largest importer of acrylic polymers, in primary forms (excluding polymethyl methacrylate), achieving 32% of total imports. It was distantly followed by India (X tons), Turkey (X tons), Vietnam (X tons), Indonesia (X tons) and Thailand (X tons), together mixing up a 34% share of total imports. Malaysia (X tons), Saudi Arabia (X tons), the Philippines (X tons), Japan (X tons), South Korea (X tons), Pakistan (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +9.2% from 2012 to 2021. At the same time, Pakistan (+17.0%), India (+16.4%), Vietnam (+14.4%), the Philippines (+7.8%), Thailand (+5.8%), Indonesia (+5.7%), Malaysia (+4.9%), Turkey (+4.5%), the United Arab Emirates (+4.2%), Saudi Arabia (+3.3%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia, with a CAGR of +17.0% from 2012-2021. Japan experienced a relatively flat trend pattern. India (+5.2 p.p.), China (+4.6 p.p.) and Vietnam (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Turkey saw its share reduced by -2.1% and -2.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported acrylic polymers, in primary forms (excluding polymethyl methacrylate) in Asia, comprising 39% of total imports. The second position in the ranking was held by India ($X), with an 8.5% share of total imports. It was followed by Turkey, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.5%. In the other countries, the average annual rates were as follows: India (+11.6% per year) and Turkey (+2.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the import price, however, saw a pronounced reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform