China: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in China

After two years of decline, the Chinese market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 15% to $X in 2021. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in China

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from China

For the fifth year in a row, China recorded growth in overseas shipments of acrylic polymers, in primary forms (excluding polymethyl methacrylate), which increased by 15% to X tons in 2021. Overall, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 40% against the previous year. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Over the period under review, exports enjoyed a strong increase. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, the exports of reached the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

India (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from China, with a combined 34% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +35.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from China were India ($X), Vietnam ($X) and Canada ($X), together comprising 30% of total exports.

In terms of the main countries of destination, India, with a CAGR of +30.4%, 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 more modest paces of growth.

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, surging by 14% against the previous year. In general, the export price, however, continues to indicate a noticeable contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into China

In 2021, approx. X tons of acrylic polymers, in primary forms (excluding polymethyl methacrylate) were imported into China; increasing by 8.8% on 2020. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 32% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to China, with a 35% share of total imports. Moreover, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.9% per year) and Japan (+1.1% per year).

In value terms, South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X) were the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to China, together accounting for 59% of total imports. Malaysia, the United States, Singapore, Germany and the UK lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, Malaysia, with a CAGR of +19.5%, saw 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 import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, jumping by 19% against the previous year. Overall, the import price, however, continues to indicate a slight reduction. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform