Asia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Asia

The Asian acrylic acid esters market totaled $X in 2022, picking up by 4.1% against the previous year. In general, consumption showed a strong expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Acrylic Acid Esters Production in Asia

In value terms, acrylic acid esters production reached $X in 2022 estimated in export price. Overall, production saw a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 24%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports in Asia

Acrylic acid esters exports declined markedly to X tons in 2022, waning by -26.2% against the previous year's figure. Overall, exports, however, posted pronounced growth. The most prominent rate of growth was recorded in 2021 with an increase of 115% against the previous year. As a result, the exports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, acrylic acid esters exports fell significantly to $X in 2022. In general, exports, however, showed a moderate increase. The most prominent rate of growth was recorded in 2021 with an increase of 191%. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

China was the key exporter of esters of acrylic acid in Asia, with the volume of exports recording X tons, which was approx. 48% of total exports in 2022. Malaysia (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (12%), South Korea (8.8%) and Japan (4.7%). The following exporters - Indonesia (X tons) and India (X tons) - together made up 5.5% of total exports.

Exports from China increased at an average annual rate of +16.1% from 2012 to 2022. At the same time, India (+17.3%), Japan (+3.7%) and Taiwan (Chinese) (+2.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.3% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-3.5%) and South Korea (-4.6%) illustrated a downward trend over the same period. While the share of China (+32 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-1.5 p.p.), Indonesia (-4.2 p.p.), Malaysia (-9.4 p.p.) and South Korea (-12.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest acrylic acid esters supplier in Asia, comprising 44% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by Malaysia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +13.2%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+2.9% per year) and Malaysia (-1.4% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, almost unchanged from 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 when the export price increased by 36%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Malaysia ($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 more modest paces of growth.

Acrylic Acid Esters Imports

Imports in Asia

In 2022, approx. X tons of esters of acrylic acid were imported in Asia; dropping by -19.9% compared with 2021 figures. Total imports indicated measured growth from 2012 to 2022: its volume 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, imports increased by +23.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 54%. As a result, imports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, acrylic acid esters imports contracted sharply to $X in 2022. Over the period under review, imports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 118% against the previous year. As a result, imports attained the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, India (X tons), distantly followed by Turkey (X tons), China (X tons), South Korea (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) represented the main importers of esters of acrylic acid, together mixing up 77% of total imports. Thailand (X tons), Vietnam (X tons), Malaysia (X tons), the United Arab Emirates (X tons), Singapore (X tons) and the Philippines (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +16.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Turkey ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. South Korea, Indonesia, Taiwan (Chinese), Japan, Thailand, Vietnam, Singapore, Malaysia, the United Arab Emirates and the Philippines lagged somewhat behind, together accounting for a further 42%.

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

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the United Arab Emirates ($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

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