Latin America and the Caribbean: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Latin America and the Caribbean

The Latin American polymethyl methacrylate market fell slightly to $X in 2022, remaining stable against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Polymethyl Methacrylate Production in Latin America and the Caribbean

In value terms, polymethyl methacrylate production shrank slightly to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -12.4% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Polymethyl Methacrylate Exports

Exports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of polymethyl methacrylate in primary forms, which increased by 1.2% to X tons in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +126.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 100%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, polymethyl methacrylate exports contracted to $X in 2022. Total exports indicated notable 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, exports increased by +39.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 35% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

In 2022, Brazil (X tons) was the largest exporter of polymethyl methacrylate in primary forms, constituting 56% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by Colombia (X tons). All these countries together held approx. 40% share of total exports. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polymethyl methacrylate exports from Brazil stood at +2.9%. At the same time, the Dominican Republic (+51.3%), Colombia (+1.7%) and Mexico (+1.6%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +51.3% from 2012-2022. Brazil (+3.2 p.p.) and the Dominican Republic (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -1.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polymethyl methacrylate supplying countries in Latin America and the Caribbean were Brazil ($X), Colombia ($X) and Mexico ($X), together comprising 96% of total exports. The Dominican Republic lagged somewhat behind, comprising a further 0.9%.

The Dominican Republic, with a CAGR of +32.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, declining by -8.1% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 56% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Polymethyl Methacrylate Imports

Imports in Latin America and the Caribbean

In 2022, polymethyl methacrylate imports in Latin America and the Caribbean contracted to X tons, shrinking by -3.3% compared with the year before. The total import volume increased at an average annual rate of +1.1% 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 30%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, polymethyl methacrylate imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico represented the key importing country with an import of around X tons, which recorded 77% of total imports. It was distantly followed by Brazil (X tons), creating a 15% share of total imports. Argentina (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the polymethyl methacrylate in primary forms imports, with a CAGR of +2.8% from 2012 to 2022. Argentina and Brazil experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Latin America and the Caribbean, comprising 74% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+2.0% per year) and Argentina (+2.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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