EU: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in the EU

The EU methacrylic acid market reached $X in 2022, increasing by 6.8% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +27.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Methacrylic Acid Production in the EU

In value terms, methacrylic acid production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Methacrylic Acid Exports

Exports in the EU

After two years of growth, shipments abroad of methacrylic acid and its salts decreased by -28.6% to X tons in 2022. Overall, exports showed a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 42% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted remarkably in the following year.

In value terms, methacrylic acid exports reduced sharply to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 63%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

In 2022, Germany (X tons) represented the main exporter of methacrylic acid and its salts, comprising 70% of total exports. It was distantly followed by the Netherlands (X tons) and Belgium (X tons), together creating a 29% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to methacrylic acid exports from Germany stood at -2.7%. At the same time, the Netherlands (+40.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +40.1% from 2012-2022. By contrast, Belgium (-10.2%) illustrated a downward trend over the same period. The Netherlands (+22 p.p.) significantly strengthened its position in terms of the total exports, while Belgium and Germany saw its share reduced by -9.4% and -13.2% from 2012 to 2022, respectively.

In value terms, Germany ($X) remains the largest methacrylic acid supplier in the European Union, comprising 69% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 23% share of total exports.

In Germany, methacrylic acid exports declined by an average annual rate of -1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+34.9% per year) and Belgium (-6.3% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by 4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 when the export price increased by 46%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Methacrylic Acid Imports

Imports in the EU

In 2022, supplies from abroad of methacrylic acid and its salts decreased by -28.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 31%. The volume of import peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, methacrylic acid imports plummeted to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +33.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 68%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

France represented the key importer of methacrylic acid and its salts in the European Union, with the volume of imports resulting at X tons, which was approx. 47% of total imports in 2022. It was distantly followed by the Netherlands (X tons), Italy (X tons), Germany (X tons) and Belgium (X tons), together comprising a 43% share of total imports. Spain (X tons) and Sweden (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to methacrylic acid imports into France stood at +3.6%. At the same time, the Netherlands (+30.7%) and Germany (+2.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the European Union, with a CAGR of +30.7% from 2012-2022. By contrast, Italy (-1.3%), Spain (-3.9%), Sweden (-6.5%) and Belgium (-12.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+17 p.p.) and France (+8.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sweden (-2.1 p.p.), Spain (-3 p.p.), Italy (-3.8 p.p.) and Belgium (-16.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported methacrylic acid and its salts in the European Union, comprising 45% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by Italy, with an 11% share.

In France, methacrylic acid imports increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+27.0% per year) and Italy (-0.6% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, surging by 11% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid import price increased by +62.3% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 46% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Germany ($X per ton) and Spain ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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