Canada: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Canada

The Canadian polymethyl methacrylate market dropped to $X in 2022, waning by -9.3% against the previous year. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +12.3% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Polymethyl Methacrylate Production in Canada

In value terms, polymethyl methacrylate production fell to $X in 2022 estimated in export price. Over the period under review, production, however, recorded tangible growth. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Canada

In 2022, shipments abroad of polymethyl methacrylate in primary forms decreased by -20.9% to X tons, falling for the third consecutive year after five years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 72%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports reduced to $X in 2022. Over the period under review, exports recorded a slight setback. The pace of growth appeared the most rapid in 2019 when exports increased by 43%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for polymethyl methacrylate exports from Canada, with a 62% share of total exports. Moreover, polymethyl methacrylate exports to the United States exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was taken by Belgium (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+56.5% per year) and Belgium (+13.2% per year).

In value terms, the United States ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Canada, comprising 81% of total exports. The second position in the ranking was taken by Thailand ($X), with a 6.9% share of total exports. It was followed by Belgium, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+56.4% per year) and Belgium (+9.7% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, growing by 9.5% against the previous year. In general, the export price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Polymethyl Methacrylate Imports

Imports into Canada

In 2022, overseas purchases of polymethyl methacrylate in primary forms decreased by -14.9% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 when imports increased by 35% 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 declined slightly to $X in 2022. Over the period under review, imports showed a slight reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest polymethyl methacrylate supplier to Canada, with a 76% share of total imports. Moreover, polymethyl methacrylate imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. Italy (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.4% per year) and Italy (+6.5% per year).

In value terms, the United States ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Canada, comprising 71% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Japan, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.0% per year) and Japan (-1.3% per year).

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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