Eastern Asia: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Eastern Asia

In 2022, the East Asian methacrylic acid esters market increased by 0.9% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Methacrylic Acid Esters Production in Eastern Asia

In value terms, methacrylic acid esters production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 22%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Methacrylic Acid Esters Exports

Exports in Eastern Asia

Methacrylic acid esters exports reduced to X tons in 2022, dropping by -13.6% on the previous year's figure. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 36% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, methacrylic acid esters exports fell significantly to $X in 2022. Total exports indicated a slight increase 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 +45.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 76% against the previous year. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

In 2022, China (X tons) and Japan (X tons) represented the main exporters of esters of methacrylic acid in Eastern Asia, together creating 71% of total exports. South Korea (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (14%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +11.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2022, together comprising 89% of total exports.

China, with a CAGR of +9.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by -4.3% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 35% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.1%), while the other leaders experienced a decline in the export price figures.

Methacrylic Acid Esters Imports

Imports in Eastern Asia

Methacrylic acid esters imports dropped to X tons in 2022, declining by -9.5% compared with the year before. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 9.2%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid esters imports shrank to $X in 2022. Overall, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) represented the key importer of esters of methacrylic acid, committing 51% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Japan (X tons), together committing a 49% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to methacrylic acid esters imports into China stood at -6.6%. Japan experienced a relatively flat trend pattern. South Korea (-3.9%) and Taiwan (Chinese) (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and Japan increased by +4 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest methacrylic acid esters importing markets in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 90% share of total imports. Japan lagged somewhat behind, comprising a further 8.3%.

Japan, with a CAGR of +0.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, waning by -1.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 42% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, 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 (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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