Japan: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Japan

In 2022, the Japanese methacrylic acid market increased by 18% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Methacrylic Acid Production in Japan

In value terms, methacrylic acid production dropped to $X in 2022 estimated in export price. In general, production saw a noticeable slump. The growth pace was the most rapid in 2017 with an increase of 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Methacrylic Acid Exports

Exports from Japan

In 2022, exports of methacrylic acid and its salts from Japan reduced to X tons, which is down by -13.8% on the previous year's figure. Over the period under review, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 26%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, methacrylic acid exports dropped to $X in 2022. In general, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 64%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) were the main destinations of methacrylic acid exports from Japan, with a combined 68% 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 Malaysia (with a CAGR of +9.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for methacrylic acid exported from Japan were the United States ($X), Taiwan (Chinese) ($X) and Malaysia ($X), together accounting for 70% of total exports.

In terms of the main countries of destination, Malaysia, with a CAGR of +6.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average methacrylic acid export price stood at $X per ton in 2022, rising by 6.5% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 45%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to the Netherlands ($X per ton) and India ($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 the Netherlands (-1.7%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Imports

Imports into Japan

Methacrylic acid imports into Japan surged to X tons in 2022, with an increase of 81% compared with 2021. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 266% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, methacrylic acid imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 237%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of methacrylic acid to Japan, with a 76% share of total imports. Moreover, methacrylic acid imports from Thailand exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to +32.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.0% per year) and China (+15.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of methacrylic acid and its salts to Japan, comprising 75% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.3% per year) and China (+13.8% per year).

Import Prices by Country

The average methacrylic acid import price stood at $X per ton in 2022, falling by -6.5% against the previous year. In general, the import price saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 60%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and China ($X per ton), while the price for Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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