Bangladesh: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Bangladesh

The Bangladeshi methacrylic acid esters market reduced sharply to $X in 2022, with a decrease of -32.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a remarkable increase. As a result, consumption attained the peak level of $X, and then shrank remarkably in the following year.

Methacrylic Acid Esters Exports

Exports from Bangladesh

In 2022, methacrylic acid esters exports from Bangladesh was estimated at X tons, approximately reflecting the previous year's figure. In general, exports posted prominent growth. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, methacrylic acid esters exports expanded markedly to $X in 2022. Over the period under review, exports continue to indicate a measured increase. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for methacrylic acid esters exports from Bangladesh, with a 92% share of total exports. Moreover, methacrylic acid esters exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), more than tenfold.

From 2014 to 2022, the average annual growth rate of volume to the Netherlands stood at +385.5%.

In value terms, the Netherlands ($X) and France ($X) were the largest markets for methacrylic acid esters exported from Bangladesh worldwide.

Among the main countries of destination, the Netherlands, with a CAGR of +252.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average methacrylic acid esters export price stood at $X per ton in 2022, increasing by 12% against the previous year. In general, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 60%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Netherlands amounted to $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+78.3%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Esters Imports

Imports into Bangladesh

In 2022, overseas purchases of esters of methacrylic acid decreased by -27.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 120% against the previous year. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, methacrylic acid esters imports shrank markedly to $X in 2022. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 225%. As a result, imports attained the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of methacrylic acid esters to Bangladesh, with a 58% share of total imports. Moreover, methacrylic acid esters imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.7% per year) and Taiwan (Chinese) (+37.1% per year).

In value terms, Singapore ($X) constituted the largest supplier of esters of methacrylic acid to Bangladesh, comprising 59% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 10% share of total imports. It was followed by China, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+39.1% per year) and China (-3.3% per year).

Import Prices by Country

The average methacrylic acid esters import price stood at $X per ton in 2022, with a decrease of -10.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 48%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and Germany ($X per ton), while the price for China ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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