Brazil: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Brazil

The Brazilian methacrylic acid esters market soared to $X in 2022, growing by 52% against the previous year. Over the period under review, consumption showed a resilient increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Methacrylic Acid Esters Production in Brazil

In value terms, methacrylic acid esters production expanded to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 29%. Methacrylic acid esters production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methacrylic Acid Esters Exports

Exports from Brazil

In 2022, the amount of esters of methacrylic acid exported from Brazil fell significantly to X tons, with a decrease of -41.3% against 2021. In general, exports showed a deep reduction. The growth pace was the most rapid in 2014 with an increase of 60% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, methacrylic acid esters exports plummeted to $X in 2022. Overall, exports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 110%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Belgium (X tons) and the Netherlands (X tons) were the main destinations of methacrylic acid esters exports from Brazil, with a combined 81% share of total exports. Argentina, Peru, Uruguay, Colombia and Mexico lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +19.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for methacrylic acid esters exported from Brazil were the United States ($X), Belgium ($X) and the Netherlands ($X), with a combined 82% share of total exports. Argentina, Peru, Uruguay, Colombia and Mexico lagged somewhat behind, together accounting for a further 12%.

In terms of the main countries of destination, Uruguay, with a CAGR of +14.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average methacrylic acid esters export price stood at $X per ton in 2022, picking up by 14% against the previous year. Over the period under review, export price indicated a temperate expansion 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 esters export price increased by +65.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 China (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Esters Imports

Imports into Brazil

For the third year in a row, Brazil recorded growth in purchases abroad of esters of methacrylic acid, which increased by 29% to X tons in 2022. In general, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, methacrylic acid esters imports skyrocketed to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +109.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest methacrylic acid esters supplier to Brazil, accounting for a 61% share of total imports. Moreover, methacrylic acid esters imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.9% per year) and Germany (-17.2% per year).

In value terms, China ($X) constituted the largest supplier of esters of methacrylic acid to Brazil, comprising 56% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Germany, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.3% per year) and Germany (-14.2% per year).

Import Prices by Country

In 2022, the average methacrylic acid esters import price amounted to $X per ton, picking up by 10% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid esters import price increased by +57.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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