Asia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Asia

In 2022, the Asian polymethyl methacrylate market decreased by -3.6% 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 +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Polymethyl Methacrylate Production in Asia

In value terms, polymethyl methacrylate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of 22%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Polymethyl Methacrylate Exports

Exports in Asia

In 2022, after three years of growth, there was decline in shipments abroad of polymethyl methacrylate in primary forms, when their volume decreased by -2.2% to X tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 10% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, polymethyl methacrylate exports reached $X in 2022. In general, exports continue to indicate a mild decline. The growth pace was the most rapid in 2021 when exports increased by 22%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) and Singapore (X tons) were the major exporters of polymethyl methacrylate in primary forms in 2022, resulting at near 32% and 24% of total exports, respectively. Japan (X tons) ranks next in terms of the total exports with a 9.6% share, followed by Taiwan (Chinese) (7.6%), China (5.5%) and Malaysia (5.1%). Thailand (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +14.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of exports in 2022, together comprising 74% of total exports. These countries were followed by Taiwan (Chinese), China, Malaysia and Thailand, which together accounted for a further 18%.

Malaysia, with a CAGR of +8.0%, 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

The export price in Asia stood at $X per ton in 2022, growing by 3.9% against the previous year. Overall, the export price, however, showed a mild reduction. The pace of growth was the most pronounced in 2017 when the export price increased by 17% 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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

In 2022, approx. X tons of polymethyl methacrylate in primary forms were imported in Asia; dropping by -11.6% compared with the previous year. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, polymethyl methacrylate imports declined to $X in 2022. Over the period under review, imports saw a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 35%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China represented the key importing country with an import of about X tons, which finished at 48% of total imports. Singapore (X tons) held the second position in the ranking, followed by India (X tons). All these countries together took near 17% share of total imports. Japan (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Turkey (X tons), Hong Kong SAR (X tons), Indonesia (X tons), Vietnam (X tons), Thailand (X tons) and Israel (X tons) took a little share of total imports.

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%), Turkey (+7.1%), 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, with a CAGR of +38.3% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Israel (-2.2%) and Hong Kong SAR (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, India, Japan and Turkey increased by +8.4, +4, +3.3 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Asia, comprising 44% of total imports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total imports. It was followed by India, with an 8.8% share.

In China, polymethyl methacrylate imports plunged by an average annual rate of -4.2% over the period from 2012-2022. 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 stood at $X per ton in 2022, increasing by 3.5% against the previous year. Over the period under review, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2021 an increase of 14%. The level of import peaked 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 Israel ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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