Latin America and the Caribbean: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Latin America and the Caribbean

For the third consecutive year, the Latin American methacrylic acid esters market recorded growth in sales value, which increased by 20% to $X in 2022. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +20.1% against 2018 indices. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Methacrylic Acid Esters Production in Latin America and the Caribbean

In value terms, methacrylic acid esters production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Methacrylic Acid Esters Exports

Exports in Latin America and the Caribbean

In 2022, methacrylic acid esters exports in Latin America and the Caribbean shrank rapidly to X tons, dropping by -43.7% compared with the previous year. In general, exports continue to indicate a deep setback. The growth pace was the most rapid in 2014 with an increase of 65%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, methacrylic acid esters exports fell sharply to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 118% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons) represented roughly 99% of total exports in 2022.

Brazil was also the fastest-growing in terms of the esters of methacrylic acid exports, with a CAGR of -9.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest methacrylic acid esters supplier in Latin America and the Caribbean.

In Brazil, methacrylic acid esters exports declined by an average annual rate of -6.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 12% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid esters export price increased by +60.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to +3.1% per year.

Methacrylic Acid Esters Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of esters of methacrylic acid increased by 7.3% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, methacrylic acid esters imports expanded rapidly to $X in 2022. Total imports indicated moderate growth 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 +59.0% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 57%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X tons) was the key importer of esters of methacrylic acid, constituting 66% of total imports. Brazil (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (9.3%). Peru (X tons) and Argentina (X tons) took a relatively small share of total imports.

Mexico was also the fastest-growing in terms of the esters of methacrylic acid imports, with a CAGR of +3.8% from 2012 to 2022. Brazil and Colombia experienced a relatively flat trend pattern. Peru (-2.5%) and Argentina (-6.3%) illustrated a downward trend over the same period. While the share of Mexico (+13 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (-1.9 p.p.), Peru (-1.9 p.p.), Brazil (-2.1 p.p.) and Argentina (-4.2 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported esters of methacrylic acid in Latin America and the Caribbean, comprising 60% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports. It was followed by Colombia, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +5.1%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+2.4% per year) and Colombia (-0.8% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 1.8% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Peru ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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