Belgium: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Belgium

The Belgian methacrylic acid market reduced to $X in 2022, falling by -10.5% against the previous year. In general, consumption showed a abrupt descent. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Methacrylic Acid Production in Belgium

In value terms, methacrylic acid production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with a decrease of -4.3%. Methacrylic acid production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Methacrylic Acid Exports

Exports from Belgium

In 2022, overseas shipments of methacrylic acid and its salts decreased by -86.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 463%. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, methacrylic acid exports reduced sharply to $X in 2022. Overall, exports recorded a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 406% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped markedly in the following year.

Exports by Country

France (X tons) was the main destination for methacrylic acid exports from Belgium, with a 47% share of total exports. Moreover, methacrylic acid exports to France exceeded the volume sent to the second major destination, Germany (X tons), threefold. Italy (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.8% per year) and Italy (-12.8% per year).

In value terms, France ($X) remains the key foreign market for methacrylic acid and its salts exports from Belgium, comprising 48% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by Italy, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.6% per year) and Italy (-9.8% per year).

Export Prices by Country

The average methacrylic acid export price stood at $X per ton in 2022, rising by 13% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid export price increased by +63.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 45% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per ton) and Italy ($X per ton), while the average price for exports to Finland ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Imports

Imports into Belgium

In 2022, after five years of growth, there was significant decline in overseas purchases of methacrylic acid and its salts, when their volume decreased by -84.1% to X tons. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 197%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, methacrylic acid imports declined remarkably to $X in 2022. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of 88% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

Germany (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of methacrylic acid imports to Belgium, together accounting for 73% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +40.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid suppliers to Belgium were Germany ($X), the Netherlands ($X) and China ($X), together comprising 77% of total imports. Thailand, the United States, the UK and South Korea lagged somewhat behind, together comprising a further 22%.

Thailand, with a CAGR of +63.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average methacrylic acid import price amounted to $X per ton, rising by 23% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid import price increased by +68.7% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 38% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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