Asia-Pacific: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Asia-Pacific

The Asia-Pacific methacrylic acid market dropped to $X in 2022, reducing by -4.6% against the previous year. In general, consumption, however, saw a perceptible curtailment. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Methacrylic Acid Production in Asia-Pacific

In value terms, methacrylic acid production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible decline. The growth pace was the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Methacrylic Acid Exports

Exports in Asia-Pacific

In 2022, the amount of methacrylic acid and its salts exported in Asia-Pacific shrank significantly to X tons, falling by -16.8% on 2021 figures. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 69%. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, methacrylic acid exports contracted notably to $X in 2022. In general, exports, however, posted pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by 171%. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

South Korea represented the key exporting country with an export of about X tons, which accounted for 42% of total exports. It was distantly followed by China (X tons), Thailand (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together mixing up a 58% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +266.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid supplying countries in Asia-Pacific were South Korea ($X), China ($X) and Thailand ($X), with a combined 87% share of total exports.

Thailand, with a CAGR of +264.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with a decrease of -11.9% against the previous year. Overall, the export price saw a mild reduction. The pace of growth appeared the most rapid in 2017 an increase of 62% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and China ($X per ton), while Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.4%), while the other leaders experienced a decline in the export price figures.

Methacrylic Acid Imports

Imports in Asia-Pacific

In 2022, purchases abroad of methacrylic acid and its salts decreased by less than 0.1% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, methacrylic acid imports shrank to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +41.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons), India (X tons), China (X tons) and Taiwan (Chinese) (X tons) was the largest importer of methacrylic acid and its salts in Asia-Pacific, comprising 83% of total import. It was distantly followed by Japan (X tons), constituting an 8% share of total imports. Indonesia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Malaysia ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Taiwan (Chinese), Japan and Indonesia lagged somewhat behind, together comprising a further 24%.

Among the main importing countries, Japan, with a CAGR of +20.0%, 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

The import price in Asia-Pacific stood at $X per ton in 2022, declining by -13.4% against the previous year. Overall, the import price saw a mild reduction. The growth pace was the most rapid in 2021 an increase of 59% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Indonesia ($X per ton) and India ($X per ton), while Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :