Belgium: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Belgium

The Belgian polymethyl methacrylate market soared to $X in 2022, surging by 54% against the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +99.7% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polymethyl Methacrylate Production in Belgium

In value terms, polymethyl methacrylate production dropped slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 84% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Belgium

In 2022, the amount of polymethyl methacrylate in primary forms exported from Belgium contracted markedly to X tons, shrinking by -30.6% compared with the previous year. In general, exports, however, saw buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 166%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate exports contracted remarkably to $X in 2022. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 88%. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

Germany (X tons) was the main destination for polymethyl methacrylate exports from Belgium, with a 49% share of total exports. Moreover, polymethyl methacrylate exports to Germany exceeded the volume sent to the second major destination, Slovakia (X tons), fourfold. Slovenia (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+58.8% per year) and Slovenia (+71.6% per year).

In value terms, Germany ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Belgium, comprising 45% of total exports. The second position in the ranking was held by Slovakia ($X), with an 11% share of total exports. It was followed by Slovenia, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+43.7% per year) and Slovenia (+56.8% per year).

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, with an increase of 11% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 an increase of 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.4%), while the prices for the other major destinations experienced a decline.

Polymethyl Methacrylate Imports

Imports into Belgium

Polymethyl methacrylate imports into Belgium expanded remarkably to X tons in 2022, growing by 8.7% on 2021 figures. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 158% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, polymethyl methacrylate imports amounted to $X in 2022. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 92%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X tons), Saudi Arabia (X tons) and South Korea (X tons) were the main suppliers of polymethyl methacrylate imports to Belgium, with a combined 62% share of total imports. These countries were followed by Italy, Germany, Malaysia and the Netherlands, which together accounted for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +511.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polymethyl methacrylate suppliers to Belgium were Italy ($X), Singapore ($X) and South Korea ($X), with a combined 53% share of total imports. Germany, Saudi Arabia, the Netherlands and Malaysia lagged somewhat behind, together accounting for a further 42%.

In terms of the main suppliers, Malaysia, with a CAGR of +601.9%, 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 average polymethyl methacrylate import price stood at $X per ton in 2022, surging by 2.2% against the previous year. In general, the import price, however, saw a pronounced descent. The growth pace was the most rapid in 2017 when the average import price increased by 39%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :