Europe: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Europe

In 2022, the Europe methacrylic acid market increased by 8.2% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +32.7% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Methacrylic Acid Production in Europe

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 throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Methacrylic Acid Exports

Exports in Europe

In 2022, shipments abroad of methacrylic acid and its salts decreased by -28.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank notably in the following year.

In value terms, methacrylic acid exports dropped notably to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 63%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Germany represented the main exporting country with an export of around X tons, which resulted at 70% of total exports. The Netherlands (X tons) took the second position in the ranking, distantly followed by Belgium (X tons). All these countries together held near 29% share of total exports.

Exports from Germany decreased at an average annual rate of -2.7% from 2012 to 2022. At the same time, the Netherlands (+40.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, 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 ($X) remains the largest methacrylic acid supplier in Europe, comprising 69% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Germany amounted to -1.5%. 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 Europe amounted to $X per ton, increasing by 3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the export price increased by 47%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 Europe

After three years of growth, supplies from abroad of methacrylic acid and its salts decreased by -23.4% to X tons in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 18%. The volume of import peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, methacrylic acid imports contracted notably to $X in 2022. Total imports indicated a noticeable 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, imports increased by +43.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 70% against the previous year. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

France represented the key importing country with an import of about X tons, which resulted at 39% of total imports. The Netherlands (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Italy (9.8%), the UK (8%), Germany (6.7%) and Norway (4.7%). Belgium (X tons) and Russia (X tons) took a relatively small share of total imports.

Imports into France increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Norway (+61.7%), the Netherlands (+30.7%), Russia (+7.4%) and Germany (+2.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Europe, with a CAGR of +61.7% from 2012-2022. By contrast, Italy (-1.3%), the UK (-7.8%) and Belgium (-12.5%) illustrated a downward trend over the same period. The Netherlands (+14 p.p.), France (+9.2 p.p.), Norway (+4.7 p.p.) and Russia (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Italy, the UK and Belgium saw its share reduced by -2.4%, -11.5% and -12.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported methacrylic acid and its salts in Europe, comprising 38% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total imports. It was followed by Italy, with a 9.1% share.

In France, methacrylic acid imports increased at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+27.0% per year) and Italy (-0.6% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, picking up by 11% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +61.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 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.

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 Germany ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform