India: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in India

In 2022, the Indian acrylic acid esters market decreased by -0.1% to $X, falling for the second year in a row after nine years of growth. In general, consumption, however, posted resilient growth. Acrylic acid esters consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Acrylic Acid Esters Production in India

In value terms, acrylic acid esters production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports from India

In 2022, exports of esters of acrylic acid from India soared to X tons, picking up by 22% against 2021. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 192% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, acrylic acid esters exports contracted dramatically to $X in 2022. Overall, exports enjoyed a pronounced increase. The pace of growth was the most pronounced in 2021 when exports increased by 89%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

The United Arab Emirates (X tons), the Netherlands (X tons) and Belgium (X tons) were the main destinations of acrylic acid esters exports from India, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +102.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), the Netherlands ($X) and Belgium ($X) constituted the largest markets for acrylic acid esters exported from India worldwide, together comprising 60% of total exports.

The Netherlands, with a CAGR of +69.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, waning by -31.4% against the previous year. Over the period under review, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2020 an increase of 49% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the Netherlands ($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 Switzerland (+24.2%), while the prices for the other major destinations experienced mixed trend patterns.

Acrylic Acid Esters Imports

Imports into India

Acrylic acid esters imports into India shrank markedly to X tons in 2022, which is down by -30.9% compared with the previous year's figure. Overall, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, imports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, acrylic acid esters imports fell remarkably to $X in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 161%. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

China (X tons), Saudi Arabia (X tons) and Malaysia (X tons) were the main suppliers of acrylic acid esters imports to India, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +81.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Malaysia ($X) appeared to be the largest acrylic acid esters suppliers to India, together comprising 85% of total imports.

Among the main suppliers, Saudi Arabia, with a CAGR of +75.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, declining by -3.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 62% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Malaysia ($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 (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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