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

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

The Kenyan market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021, growing by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a buoyant increase. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

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

Exports from Kenya

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. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 112% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2021. Overall, exports posted a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 133% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2015; afterwards, it flattened through to 2021.

Exports by Country

Uganda (X tons), Tanzania (X tons) and Rwanda (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Kenya, together accounting for 85% of total exports. Malawi, New Zealand, India and Burundi lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Burundi (with a CAGR of +31.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Uganda ($X), Tanzania ($X) and Rwanda ($X) appeared to be the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Kenya worldwide, together accounting for 85% of total exports. Malawi, New Zealand, India and Burundi lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Burundi, with a CAGR of +41.2%, 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 more modest paces of growth.

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, rising by 20% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malawi ($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 Rwanda (+9.1%), 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 Kenya

In 2021, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) into Kenya surged to X tons, rising by 23% compared with 2020. In general, imports posted prominent growth. The growth pace was the most rapid in 2013 with an increase of 36% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 44%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Egypt (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Kenya, together accounting for 61% of total imports. These countries were followed by South Africa, South Korea, India, Tunisia, Saudi Arabia, Turkey, France, Taiwan (Chinese) and the Netherlands, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Tunisia (with a CAGR of +3,000.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Kenya were China ($X), the United Arab Emirates ($X) and Egypt ($X), with a combined 55% share of total imports. South Africa, South Korea, India, Tunisia, Saudi Arabia, Taiwan (Chinese), Turkey, France and the Netherlands lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Tunisia, with a CAGR of +4,195.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, with an increase of 15% against the previous year. In general, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2017 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+38.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform