Indonesia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Indonesia

The Indonesian polymethyl methacrylate market reached $X in 2022, surging by 9.2% against the previous year. In general, consumption recorded a prominent increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Polymethyl Methacrylate Production in Indonesia

In value terms, polymethyl methacrylate production rose rapidly to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 70%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Indonesia

In 2022, approx. X tons of polymethyl methacrylate in primary forms were exported from Indonesia; falling by -28.3% on the previous year's figure. Over the period under review, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 121% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, polymethyl methacrylate exports fell rapidly to $X in 2022. In general, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2019 with an increase of 97% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined markedly in the following year.

Exports by Country

Nigeria (X tons) was the main destination for polymethyl methacrylate exports from Indonesia, with a 53% share of total exports. Moreover, polymethyl methacrylate exports to Nigeria exceeded the volume sent to the second major destination, China (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Nigeria amounted to +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+58.8% per year) and Malaysia (+8.4% per year).

In value terms, Nigeria ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Indonesia, comprising 50% of total exports. The second position in the ranking was taken by China ($X), with a 14% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria totaled +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+39.7% per year) and Vietnam (+32.6% per year).

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, leveling off at the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15%. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Bangladesh ($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 Vietnam (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Indonesia

Polymethyl methacrylate imports into Indonesia fell to X tons in 2022, which is down by -7% against 2021. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 72% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate imports totaled $X in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +88.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 75%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X tons) constituted the largest polymethyl methacrylate supplier to Indonesia, accounting for a 62% share of total imports. Moreover, polymethyl methacrylate imports from Singapore exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.0% per year) and Japan (-1.0% per year).

In value terms, Singapore ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Indonesia, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.7% per year) and Thailand (-2.4% per year).

Import Prices by Country

In 2022, the average polymethyl methacrylate import price amounted to $X per ton, growing by 16% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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