Eastern Asia: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Eastern Asia

The East Asian methacrylic acid market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, saw a perceptible curtailment. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Methacrylic Acid Production in Eastern Asia

In value terms, methacrylic acid production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Methacrylic Acid Exports

Exports in Eastern Asia

In 2022, approx. X tons of methacrylic acid and its salts were exported in Eastern Asia; reducing by -18.9% compared with 2021. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +59.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 97%. As a result, the exports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, methacrylic acid exports dropped notably to $X in 2022. Over the period under review, exports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2021 when exports increased by 216%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

In 2022, South Korea (X tons) was the main exporter of methacrylic acid and its salts, constituting 52% of total exports. It was distantly followed by China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together comprising a 48% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by South Korea (with a CAGR of +11.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest methacrylic acid supplying countries in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), with a combined 93% share of total exports.

South Korea, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The export price in Eastern Asia stood at $X per ton in 2022, waning by -12.4% against the previous year. Over the period under review, the export price recorded a slight contraction. The pace of growth appeared the most rapid in 2017 when the export price increased by 63% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and China ($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 Taiwan (Chinese) (+0.4%), while the other leaders experienced a decline in the export price figures.

Methacrylic Acid Imports

Imports in Eastern Asia

Methacrylic acid imports was estimated at X tons in 2022, picking up by 14% on the year before. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 83%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid imports dropped to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.8% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 62%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons) and Taiwan (Chinese) (X tons) represented the main importers of methacrylic acid and its salts in 2022, amounting to near 42% and 37% of total imports, respectively. It was distantly followed by Japan (X tons), achieving a 19% share of total imports. South Korea (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +22.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid importing markets in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and Japan ($X), together comprising 97% of total imports.

In terms of the main importing countries, Japan, with a CAGR of +20.0%, recorded the highest growth rate of 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

In 2022, the import price in Eastern Asia amounted to $X per ton, reducing by -14.1% against the previous year. Overall, the import price recorded a pronounced decrease. The pace of growth was the most pronounced in 2017 when the import price increased by 59%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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