Eastern Asia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Eastern Asia

In 2022, after two years of growth, there was significant decline in the East Asian polymethyl methacrylate market, when its value decreased by -12.9% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Polymethyl Methacrylate Production in Eastern Asia

In value terms, polymethyl methacrylate production rose modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 32%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports in Eastern Asia

After three years of growth, overseas shipments of polymethyl methacrylate in primary forms decreased by -2.9% to X tons in 2022. In general, exports showed a mild decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 6.5% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polymethyl methacrylate exports shrank to $X in 2022. Overall, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 23% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea was the key exporter of polymethyl methacrylate in primary forms in Eastern Asia, with the volume of exports recording X tons, which was approx. 56% of total exports in 2022. Japan (X tons) ranks second in terms of the total exports with a 17% share, followed by Taiwan (Chinese) (13%) and China (9.6%). Hong Kong SAR (X tons) held a minor share of total exports.

Exports from South Korea increased at an average annual rate of +1.3% from 2012 to 2022. At the same time, China (+2.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +2.3% from 2012-2022. By contrast, Taiwan (Chinese) (-3.2%), Japan (-5.6%) and Hong Kong SAR (-7.6%) illustrated a downward trend over the same period. While the share of South Korea (+13 p.p.) and China (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.8 p.p.), Hong Kong SAR (-4.1 p.p.) and Japan (-9.1 p.p.) displayed negative dynamics.

In value terms, South Korea ($X) remains the largest polymethyl methacrylate supplier in Eastern Asia, comprising 50% of total exports. The second position in the ranking was held by Japan ($X), with a 24% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.

In South Korea, polymethyl methacrylate exports shrank by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-6.7% per year) and Taiwan (Chinese) (-4.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, declining by -7.6% against the previous year. In general, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by 21% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Hong Kong SAR ($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 (-0.6%), while the other leaders experienced a decline in the export price figures.

Polymethyl Methacrylate Imports

Imports in Eastern Asia

Polymethyl methacrylate imports reduced markedly to X tons in 2022, declining by -22.3% against 2021 figures. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of X tons, and then declined notably in the following year.

In value terms, polymethyl methacrylate imports dropped sharply to $X in 2022. Overall, imports showed a perceptible decline. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China prevails in imports structure, resulting at X tons, which was near 78% of total imports in 2022. Japan (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 20% share of total imports. South Korea (X tons) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Japan (+16.2%) and Taiwan (Chinese) (+1.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.2% from 2012-2022. By contrast, Hong Kong SAR (-5.2%) and South Korea (-12.3%) illustrated a downward trend over the same period. While the share of Japan (+5.7 p.p.) and Taiwan (Chinese) (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-2.8 p.p.) and South Korea (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Eastern Asia, comprising 78% of total imports. The second position in the ranking was taken by Japan ($X), with a 7.7% share of total imports. It was followed by Taiwan (Chinese), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+11.7% per year) and Taiwan (Chinese) (-1.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, which is down by -3% against the previous year. Over the period under review, the import price showed a pronounced reduction. The growth pace was the most rapid in 2021 when the import price increased by 17%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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