Asia-Pacific: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Asia-Pacific

In 2022, the Asia-Pacific polymethyl methacrylate market decreased by -4.6% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then reduced slightly in the following year.

Polymethyl Methacrylate Production in Asia-Pacific

In value terms, polymethyl methacrylate production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports in Asia-Pacific

After three years of growth, shipments abroad of polymethyl methacrylate in primary forms decreased by -1.2% to X tons in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 8.9%. The volume of export peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, polymethyl methacrylate exports expanded to $X in 2022. Over the period under review, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 21%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X tons) and Singapore (X tons) were the main exporters of polymethyl methacrylate in primary forms in Asia-Pacific, together resulting at approx. 60% of total exports. Japan (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons), China (X tons), Malaysia (X tons) and Thailand (X tons). All these countries together held near 34% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +14.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2022, together comprising 77% of total exports. Taiwan (Chinese), China, Malaysia and Thailand lagged somewhat behind, together comprising a further 19%.

In terms of the main exporting countries, Malaysia, with a CAGR of +8.0%, recorded 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

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 3.9% against the previous year. Over the period under review, the export price, however, saw a mild setback. The growth pace was the most rapid in 2021 an increase of 18% 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 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 ($X per ton), while Thailand ($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 Asia-Pacific

Polymethyl methacrylate imports fell to X tons in 2022, dropping by -11.7% on the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, polymethyl methacrylate imports fell to $X in 2022. Overall, imports saw a mild descent. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China dominates imports structure, finishing at X tons, which was approx. 52% of total imports in 2022. It was distantly followed by Singapore (X tons), India (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together constituting a 27% share of total imports. Malaysia (X tons), Hong Kong SAR (X tons), Indonesia (X tons), Vietnam (X tons) and Thailand (X tons) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Singapore (+38.3%), Japan (+16.2%), Vietnam (+9.5%), India (+8.5%), Thailand (+4.3%), Indonesia (+2.0%) and Taiwan (Chinese) (+1.9%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +38.3% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, India and Japan increased by +9.1, +4.4 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Asia-Pacific, comprising 48% of total imports. The second position in the ranking was held by Singapore ($X), with a 13% share of total imports. It was followed by India, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to -4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+36.2% per year) and India (+8.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 3.5% against the previous year. Overall, the import price, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2021 an increase of 15%. Over the period under review, import prices hit record highs 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 Indonesia ($X per ton), while Hong Kong SAR ($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 (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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