Japan: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Japan

In 2022, the Japanese methacrylic acid esters market increased by 17% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate tangible growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Methacrylic Acid Esters Production in Japan

In value terms, methacrylic acid esters production fell modestly to $X in 2022 estimated in export price. In general, production saw a mild descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methacrylic Acid Esters Exports

Exports from Japan

In 2022, approx. X tons of esters of methacrylic acid were exported from Japan; dropping by -10.8% against 2021 figures. In general, exports recorded a noticeable reduction. The pace of growth was the most pronounced in 2014 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, methacrylic acid esters exports shrank to $X in 2022. Overall, exports saw a pronounced decline. The growth pace was the most rapid in 2017 when exports increased by 62% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for methacrylic acid esters exports from Japan, accounting for a 36% share of total exports. Moreover, methacrylic acid esters exports to South Korea exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.3% per year) and the Netherlands (+9.6% per year).

In value terms, South Korea ($X) remains the key foreign market for esters of methacrylic acid exports from Japan, comprising 31% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.1% per year) and China (-11.3% per year).

Export Prices by Country

The average methacrylic acid esters export price stood at $X per ton in 2022, shrinking by -4.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 30%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 the United States ($X per ton), while the average price for exports to Indonesia ($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 Taiwan (Chinese) (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Methacrylic Acid Esters Imports

Imports into Japan

In 2022, overseas purchases of esters of methacrylic acid increased by 0.9% to X tons, rising for the second year in a row after four years of decline. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, methacrylic acid esters imports expanded sharply to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 72%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Germany (X tons) were the main suppliers of methacrylic acid esters imports to Japan, with a combined 69% share of total imports. The United States, South Korea and Brazil lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +12.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) constituted the largest methacrylic acid esters suppliers to Japan, with a combined 67% share of total imports.

South Korea, with a CAGR of +5.8%, saw 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 methacrylic acid esters import price stood at $X per ton in 2022, picking up by 9.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum 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 the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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