Greece: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Greece

The Greek methacrylic acid esters market shrank to $X in 2022, with a decrease of -12.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw resilient growth. As a result, consumption reached the peak level of $X, and then fell in the following year.

Methacrylic Acid Esters Exports

Exports from Greece

Methacrylic acid esters exports from Greece reduced sharply to X tons in 2022, waning by -42.3% against 2021. Over the period under review, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 950% against the previous year. The exports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, methacrylic acid esters exports contracted remarkably to $X in 2022. In general, exports, however, continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 406% against the previous year. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

Cyprus (X tons) was the main destination for methacrylic acid esters exports from Greece, accounting for a 97% share of total exports. It was followed by Bulgaria (X kg), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Cyprus stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+68.2% per year) and Italy (+14.0% per year).

In value terms, Cyprus ($X) emerged as the key foreign market for esters of methacrylic acid exports from Greece, comprising 92% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 6.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cyprus amounted to +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+22.2% per year) and Italy (-10.0% per year).

Export Prices by Country

In 2022, the average methacrylic acid esters export price amounted to $X per ton, with an increase of 2.4% against the previous year. In general, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2017 an increase of 116% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+54.1%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Esters Imports

Imports into Greece

In 2022, the amount of esters of methacrylic acid imported into Greece fell modestly to X tons, with a decrease of -3.1% compared with the previous year's figure. Overall, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 159% against the previous year. As a result, imports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, methacrylic acid esters imports dropped sharply to $X in 2022. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2021 when imports increased by 143% against the previous year. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest methacrylic acid esters supplier to Greece, with a 84% share of total imports. Moreover, methacrylic acid esters imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. The third position in this ranking was taken by South Korea (X tons), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+316.2% per year) and South Korea (+0.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of esters of methacrylic acid to Greece, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports. It was followed by Germany, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+60.7% per year) and Germany (-18.8% per year).

Import Prices by Country

In 2022, the average methacrylic acid esters import price amounted to $X per ton, shrinking by -13.8% against the previous year. Overall, the import price recorded a mild decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 57%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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