Indonesia: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Indonesia

The Indonesian market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Indonesia

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -43.6% against 2015 indices. The pace of growth appeared the most rapid in 2014 with an increase of 30%. Over the period under review, production of hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Indonesia

In 2021, shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 50%. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Over the period under review, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 55% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Australia (X tons) and India (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Indonesia, together accounting for 50% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +69.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Indonesia were Vietnam ($X), India ($X) and Australia ($X), with a combined 50% share of total exports.

Australia, with a CAGR of +63.0%, 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

In 2021, the average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, remaining stable against the previous year. In general, the export price, however, saw a pronounced decrease. The growth pace was the most rapid in 2018 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Indonesia

Imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) into Indonesia surged to X tons in 2021, increasing by 21% against the previous year's figure. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Indonesia, with a 44% share of total imports. Moreover, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. Malaysia (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+8.9% per year) and Malaysia (+12.1% per year).

In value terms, China ($X) constituted the largest supplier of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Indonesia, comprising 35% of total imports. The second position in the ranking was held by Thailand ($X), with a 9.5% share of total imports. It was followed by South Korea, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+3.7% per year) and South Korea (+8.5% per year).

Import Prices by Country

In 2021, the average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, picking up by 10% against the previous year. Overall, the import price, however, saw a perceptible setback. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform