Eastern Europe: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Eastern Europe

After two years of growth, the East European methacrylic acid market decreased by -16% to $X in 2022. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +82.5% against 2019 indices. As a result, consumption attained the peak level of $X, and then declined remarkably in the following year.

Methacrylic Acid Production in Eastern Europe

In value terms, methacrylic acid production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Methacrylic Acid Exports

Exports in Eastern Europe

In 2022, exports of methacrylic acid and its salts in Eastern Europe fell dramatically to X tons, shrinking by -82.7% on the previous year. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 22,445% against the previous year. As a result, the exports attained the peak of X tons, and then declined notably in the following year.

In value terms, methacrylic acid exports shrank markedly to $X in 2022. Overall, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 14,564%. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Romania represented the key exporting country with an export of around X tons, which recorded 49% of total exports. Hungary (X tons) held the second position in the ranking, followed by Poland (X tons). All these countries together held approx. 51% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +6.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Romania ($X) emerged as the largest methacrylic acid supplier in Eastern Europe, comprising 73% of total exports. The second position in the ranking was held by Poland ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Romania amounted to +22.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (-21.2% per year) and Hungary (+8.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by 137% against the previous year. Overall, the export price showed a strong expansion. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Romania ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+76.8%), while the other leaders experienced mixed trends in the export price figures.

Methacrylic Acid Imports

Imports in Eastern Europe

In 2022, after two years of growth, there was significant decline in supplies from abroad of methacrylic acid and its salts, when their volume decreased by -17% to X tons. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +97.0% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 82% against the previous year. As a result, imports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, methacrylic acid imports declined remarkably to $X in 2022. In general, imports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 127%. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

Russia was the key importing country with an import of around X tons, which finished at 71% of total imports. Hungary (X tons) ranks second in terms of the total imports with a 14% share, followed by Poland (8.2%). The following importers - the Czech Republic (X tons) and Romania (X tons) - each amounted to a 6.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to methacrylic acid imports into Russia stood at +7.4%. At the same time, Romania (+100.7%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +100.7% from 2012-2022. Hungary experienced a relatively flat trend pattern. By contrast, Poland (-6.2%) and the Czech Republic (-9.2%) illustrated a downward trend over the same period. While the share of Russia (+23 p.p.) and Romania (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hungary (-4.5 p.p.), the Czech Republic (-8.7 p.p.) and Poland (-13 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported methacrylic acid and its salts in Eastern Europe, comprising 49% of total imports. The second position in the ranking was held by Poland ($X), with a 24% share of total imports. It was followed by Hungary, with a 14% share.

In Russia, methacrylic acid imports expanded at an average annual rate of +6.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (-1.0% per year) and Hungary (+3.2% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, almost unchanged from the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 48% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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