Kenya: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Kenya

The Kenyan polymethyl methacrylate market shrank to $X in 2022, with a decrease of -6% against the previous year. In general, consumption, however, showed a tangible increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Polymethyl Methacrylate Production in Kenya

In value terms, polymethyl methacrylate production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded temperate growth. The pace of growth was the most pronounced in 2015 with an increase of 84%. Polymethyl methacrylate production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Kenya

In 2022, shipments abroad of polymethyl methacrylate in primary forms decreased by -55.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 689% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell remarkably in the following year.

In value terms, polymethyl methacrylate exports declined rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 497% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

Malawi (X tons) was the main destination for polymethyl methacrylate exports from Kenya, with a 62% share of total exports. Moreover, polymethyl methacrylate exports to Malawi exceeded the volume sent to the second major destination, Burundi (X tons), threefold. Rwanda (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malawi stood at +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (+61.7% per year) and Rwanda (+32.0% per year).

In value terms, Malawi ($X) emerged as the key foreign market for polymethyl methacrylate in primary forms exports from Kenya, comprising 57% of total exports. The second position in the ranking was held by Burundi ($X), with a 23% share of total exports. It was followed by Uganda, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malawi amounted to +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (+67.4% per year) and Uganda (+7.0% per year).

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, increasing by 30% against the previous year. In general, the export price, however, showed a mild shrinkage. The growth pace was the most rapid in 2014 an increase of 41% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Malawi ($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 Tanzania (+13.8%), while the prices for the other major destinations experienced mixed trend patterns.

Polymethyl Methacrylate Imports

Imports into Kenya

In 2022, the amount of polymethyl methacrylate in primary forms imported into Kenya soared to X tons, increasing by 19% on 2021. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 182%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, polymethyl methacrylate imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 170% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), India (X tons) and Egypt (X tons) were the main suppliers of polymethyl methacrylate imports to Kenya, with a combined 61% share of total imports. These countries were followed by China, the United Arab Emirates, Turkey and South Africa, which together accounted for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +81.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Kenya, comprising 55% of total imports. The second position in the ranking was held by India ($X), with an 8.9% share of total imports. It was followed by Turkey, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Egypt amounted to +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-19.5% per year) and Turkey (+31.3% per year).

Import Prices by Country

In 2022, the average polymethyl methacrylate import price amounted to $X per ton, with an increase of 35% against the previous year. Over the period under review, the import price continues to indicate temperate growth. The pace of growth appeared the most rapid in 2020 an increase of 97% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat 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 Egypt ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+8.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :