Brazil: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Brazil

The Brazilian polymethyl methacrylate market declined modestly to $X in 2022, dropping by -4.4% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.7% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Polymethyl Methacrylate Production in Brazil

In value terms, polymethyl methacrylate production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -22.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 58%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Brazil

In 2022, overseas shipments of polymethyl methacrylate in primary forms decreased by -11.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2020 with an increase of 156% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, polymethyl methacrylate exports dropped rapidly to $X in 2022. Over the period under review, exports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2017 when exports increased by 94% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X tons), Mexico (X tons) and Portugal (X tons) were the main destinations of polymethyl methacrylate exports from Brazil, together comprising 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +106.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Brazil, comprising 44% of total exports. The second position in the ranking was held by Mexico ($X), with a 16% share of total exports. It was followed by Portugal, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+83.5% per year) and Portugal (+36.0% per year).

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, declining by -7.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 80% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Portugal ($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 Colombia (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Brazil

In 2022, imports of polymethyl methacrylate in primary forms into Brazil expanded markedly to X tons, rising by 5.7% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 61% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, polymethyl methacrylate imports surged to $X in 2022. Overall, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +79.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of polymethyl methacrylate to Brazil, accounting for a 44% share of total imports. Moreover, polymethyl methacrylate imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.7% per year) and the United States (-14.2% per year).

In value terms, the largest polymethyl methacrylate suppliers to Brazil were South Korea ($X), Japan ($X) and the United States ($X), with a combined 65% share of total imports. These countries were followed by the UK, Italy, Germany, China and Taiwan (Chinese), which together accounted for a further 30%.

The UK, with a CAGR of +36.4%, saw 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

The average polymethyl methacrylate import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2020 an increase of 19%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :