China: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in China

In 2022, after two years of growth, there was significant decline in the Chinese polymethyl methacrylate market, when its value decreased by -18% to $X. In general, consumption, however, saw a relatively flat trend pattern. Polymethyl methacrylate consumption peaked at $X in 2021, and then declined remarkably in the following year.

Polymethyl Methacrylate Production in China

In value terms, polymethyl methacrylate production expanded notably to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 232%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from China

Polymethyl methacrylate exports from China skyrocketed to X tons in 2022, surging by 31% on the previous year. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume 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, exports increased by +71.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 61%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, polymethyl methacrylate exports expanded sharply to $X in 2022. Over the period under review, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 60% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for polymethyl methacrylate exports from China, with a 28% share of total exports. Moreover, polymethyl methacrylate exports to Russia exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+26.8% per year) and South Korea (+24.8% per year).

In value terms, Russia ($X) emerged as the key foreign market for polymethyl methacrylate in primary forms exports from China, comprising 25% of total exports. The second position in the ranking was held by Indonesia ($X), with a 6.5% share of total exports. It was followed by South Korea, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+21.0% per year) and South Korea (+20.9% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, declining by -13.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 32%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Spain ($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 Thailand (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into China

In 2022, the amount of polymethyl methacrylate in primary forms imported into China plummeted to X tons, waning by -24.5% on 2021 figures. In general, imports recorded a slight decline. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced notably in the following year.

In value terms, polymethyl methacrylate imports contracted rapidly to $X in 2022. Overall, imports recorded a noticeable decline. The pace of growth appeared the most rapid in 2021 when imports increased by 42% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X tons), Saudi Arabia (X tons) and Japan (X tons) were the main suppliers of polymethyl methacrylate imports to China, with a combined 60% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +111.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polymethyl methacrylate suppliers to China were South Korea ($X), Japan ($X) and Singapore ($X), together comprising 64% of total imports. These countries were followed by Saudi Arabia, Thailand and Malaysia, which together accounted for a further 21%.

Saudi Arabia, with a CAGR of +114.4%, recorded the highest growth rate of the value of imports, among 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, which is down by -1.9% against the previous year. Overall, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2021 when the average import price increased by 20%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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