Eastern Asia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Eastern Asia

The East Asian acrylic acid esters market rose rapidly to $X in 2022, with an increase of 8% against the previous year. Overall, consumption posted a remarkable increase. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Acrylic Acid Esters Production in Eastern Asia

In value terms, acrylic acid esters production reached $X in 2022 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 33%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Acrylic Acid Esters Exports

Exports in Eastern Asia

In 2022, exports of esters of acrylic acid in Eastern Asia declined remarkably to X tons, reducing by -24.6% on the year before. In general, exports, however, saw resilient growth. The growth pace was the most rapid in 2021 when exports increased by 130%. As a result, the exports attained the peak of X tons, and then declined notably in the following year.

In value terms, acrylic acid esters exports fell remarkably to $X in 2022. Overall, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by 204% against the previous year. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

China was the largest exporter of esters of acrylic acid in Eastern Asia, with the volume of exports amounting to X tons, which was near 66% of total exports in 2022. Taiwan (Chinese) (X tons) held the second position in the ranking, followed by South Korea (X tons) and Japan (X tons). All these countries together took approx. 34% share of total exports.

China was also the fastest-growing in terms of the esters of acrylic acid exports, with a CAGR of +16.1% from 2012 to 2022. At the same time, Japan (+3.7%) and Taiwan (Chinese) (+2.8%) displayed positive paces of growth. By contrast, South Korea (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +36 percentage points.

In value terms, China ($X) remains the largest acrylic acid esters supplier in Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total exports. It was followed by South Korea, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +13.2%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+2.9% per year) and South Korea (-2.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, waning by -6.2% against the previous year. In general, the export price continues to indicate a mild slump. The growth pace was the most rapid in 2021 an increase of 32%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Acrylic Acid Esters Imports

Imports in Eastern Asia

Acrylic acid esters imports dropped to X tons in 2022, declining by -5.8% on the previous year. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 24%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, acrylic acid esters imports fell to $X in 2022. Overall, imports 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. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of esters of acrylic acid, namely China, South Korea, Taiwan (Chinese) and Japan, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +2.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest acrylic acid esters importing markets in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 80% share of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +2.2%, 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 import price in Eastern Asia stood at $X per ton in 2022, waning by -6.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($X per ton) and Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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