Brazil: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Brazil

The Brazilian methacrylic acid market declined markedly to $X in 2022, with a decrease of -18.6% 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). In general, consumption continues to indicate a noticeable decrease. Methacrylic acid consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methacrylic Acid Exports

Exports from Brazil

Methacrylic acid exports from Brazil soared to X tons in 2022, increasing by 71% compared with the previous year. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 595% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, methacrylic acid exports soared to $X in 2022. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 922% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for methacrylic acid exports from Brazil, accounting for a 80% share of total exports. Moreover, methacrylic acid exports to Mexico exceeded the volume sent to the second major destination, the United States (X tons), eightfold. Chile (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico stood at +204.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+94.5% per year) and Chile (+19.3% per year).

In value terms, Mexico ($X), the United States ($X) and Chile ($X) constituted the largest markets for methacrylic acid exported from Brazil worldwide, together accounting for 99% of total exports.

In terms of the main countries of destination, Mexico, with a CAGR of +144.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methacrylic acid export price amounted to $X per ton, surging by 22% against the previous year. In general, the export price continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 84%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Argentina ($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 Chile (+9.0%), while the prices for the other major destinations experienced mixed trend patterns.

Methacrylic Acid Imports

Imports into Brazil

In 2022, methacrylic acid imports into Brazil dropped dramatically to X tons, shrinking by -19.9% compared with the previous year's figure. In general, imports saw a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 12%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid imports contracted to $X in 2022. Overall, imports showed a mild slump. The pace of growth appeared the most rapid in 2017 with an increase of 52% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of methacrylic acid imports to Brazil, with a combined 84% share of total imports. Germany and Thailand lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +25.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) constituted the largest methacrylic acid suppliers to Brazil, with a combined 85% share of total imports. Germany and Thailand lagged somewhat behind, together accounting for a further 14%.

Thailand, with a CAGR of +22.0%, recorded the highest rates of growth with regard to 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

The average methacrylic acid import price stood at $X per ton in 2022, picking up by 7.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2017 an increase of 40%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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