Malaysia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Malaysia

The Malaysian acrylic acid esters market skyrocketed to $X in 2022, jumping by 30% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. Acrylic acid esters consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Acrylic Acid Esters Production in Malaysia

In value terms, acrylic acid esters production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% 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 2019 when the production volume increased by 22% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports from Malaysia

In 2022, after three years of growth, there was significant decline in overseas shipments of esters of acrylic acid, when their volume decreased by -39.5% to X tons. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 407%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, acrylic acid esters exports plummeted to $X in 2022. In general, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 321% against the previous year. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

India (X tons) was the main destination for acrylic acid esters exports from Malaysia, with a 40% share of total exports. Moreover, acrylic acid esters exports to India exceeded the volume sent to the second major destination, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+1.9% per year) and Indonesia (-2.7% per year).

In value terms, India ($X) remains the key foreign market for esters of acrylic acid exports from Malaysia, comprising 41% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Indonesia, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to India stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+1.5% per year) and Indonesia (-3.8% per year).

Export Prices by Country

In 2022, the average acrylic acid esters export price amounted to $X per ton, increasing by 16% against the previous year. Over the period under review, the export price, however, showed a slight decline. The pace of growth appeared the most rapid in 2021 an increase of 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and India ($X per ton), while the average price for exports to Thailand ($X per ton) and Indonesia ($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 Taiwan (Chinese) (-0.1%), while the prices for the other major destinations experienced a decline.

Acrylic Acid Esters Imports

Imports into Malaysia

Acrylic acid esters imports into Malaysia shrank dramatically to X tons in 2022, with a decrease of -15.5% compared with the previous year's figure. Over the period under review, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 83% against the previous year. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, acrylic acid esters imports fell dramatically to $X in 2022. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 165%. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest acrylic acid esters supplier to Malaysia, accounting for a 67% share of total imports. Moreover, acrylic acid esters imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. Indonesia (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +49.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+36.5% per year) and Indonesia (-5.8% per year).

In value terms, China ($X) constituted the largest supplier of esters of acrylic acid to Malaysia, comprising 67% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.6% share of total imports. It was followed by Saudi Arabia, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.8% per year) and Saudi Arabia (+18.1% per year).

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, dropping by -18.4% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by 45% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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