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

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

After two years of decline, the Asia-Pacific market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 16% to $X in 2021. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. 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-Pacific

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, production attained 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-Pacific

In 2021, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in Asia-Pacific rose remarkably to X tons, surging by 8.7% against the year before. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +101.4% against 2012 indices. The growth pace was the most rapid in 2017 when exports increased by 20% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Korea (X tons), China (X tons) and Japan (X tons) was the largest exporter of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in Asia-Pacific, comprising 69% of total export. Taiwan (Chinese) (X tons) took a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (8.2%) and Singapore (4.5%). Thailand (X tons) took a little share of total exports.

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-Pacific were South Korea ($X), China ($X) and Japan ($X), with a combined 69% share of total exports. Taiwan (Chinese), Malaysia, Singapore and Thailand lagged somewhat behind, together accounting for a further 26%.

In terms of the main exporting countries, Malaysia, with a CAGR of +18.4%, saw the highest rates of growth with regard to 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-Pacific stood at $X per ton in 2021, growing by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Japan ($X per ton) and Singapore ($X per ton), while South Korea ($X per ton) and China ($X per ton) were 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-Pacific

In 2021, approx. X tons of acrylic polymers, in primary forms (excluding polymethyl methacrylate) were imported in Asia-Pacific; with an increase of 12% compared with the year before. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.3% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

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 +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the major importer of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in Asia-Pacific, with the volume of imports finishing at X tons, which was near 38% of total imports in 2021. It was distantly followed by India (X tons), Vietnam (X tons), Indonesia (X tons) and Thailand (X tons), together generating a 32% share of total imports. Malaysia (X tons), Australia (X tons), the Philippines (X tons), Japan (X tons), South Korea (X tons), Pakistan (X tons), Bangladesh (X tons) and Singapore (X tons) took a minor share of total imports.

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%), Bangladesh (+10.4%), the Philippines (+7.8%), Thailand (+5.8%), Indonesia (+5.7%), Australia (+5.6%), Malaysia (+4.9%), South Korea (+3.0%) and Singapore (+1.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +17.0% from 2012-2021. Japan experienced a relatively flat trend pattern. India (+5.8 p.p.), China (+3.3 p.p.) and Vietnam (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Japan saw its share reduced by -1.6% and -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported acrylic polymers, in primary forms (excluding polymethyl methacrylate) in Asia-Pacific, comprising 44% of total imports. The second position in the ranking was taken by India ($X), with a 9.8% share of total imports. It was followed by Vietnam, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +7.5%. In the other countries, the average annual rates were as follows: India (+11.6% per year) and Vietnam (+8.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, picking up by 10% against the previous year. Overall, the import price, however, saw a perceptible reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Bangladesh ($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