Indonesia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Indonesia

The Indonesian acrylic acid esters market expanded modestly to $X in 2022, rising by 3.7% against the previous year. In general, consumption posted a strong expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Acrylic Acid Esters Production in Indonesia

In value terms, acrylic acid esters production expanded slightly to $X in 2022 estimated in export price. In general, production enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Acid Esters Exports

Exports from Indonesia

In 2022, the amount of esters of acrylic acid exported from Indonesia contracted notably to X tons, dropping by -15.6% compared with the previous year. Overall, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by 63% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, acrylic acid esters exports surged to $X in 2022. In general, exports, however, continue to indicate a moderate increase. The growth pace was the most rapid in 2021 when exports increased by 197%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons), Thailand (X tons) and Singapore (X tons) were the main destinations of acrylic acid esters exports from Indonesia, with a combined 62% share of total exports. India, the Netherlands, Malaysia and Belgium lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +6.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic acid esters exported from Indonesia were Japan ($X), Thailand ($X) and India ($X), with a combined 65% share of total exports. Singapore, the Netherlands, Malaysia and Belgium lagged somewhat behind, together accounting for a further 29%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +11.7%, recorded the highest growth rate of the value of exports, 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, jumping by 48% against the previous year. In general, the export price recorded buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 82%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to Belgium ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Indonesia

In 2022, purchases abroad of esters of acrylic acid increased by 20% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +109.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 74% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, acrylic acid esters imports soared to $X in 2022. Over the period under review, imports saw prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 129% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Malaysia (X tons), China (X tons) and the United States (X tons) were the main suppliers of acrylic acid esters imports to Indonesia, together comprising 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic acid esters suppliers to Indonesia were Malaysia ($X), China ($X) and the United States ($X), with a combined 87% share of total imports.

China, with a CAGR of +42.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, rising by 44% against the previous year. In general, the import price recorded pronounced growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Malaysia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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