Malaysia: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Malaysia

The Malaysian methacrylic acid esters market contracted notably to $X in 2022, reducing by -16.9% 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, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +22.4% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped significantly in the following year.

Methacrylic Acid Esters Exports

Exports from Malaysia

After five years of growth, overseas shipments of esters of methacrylic acid decreased by -0.3% to X tons in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 916% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, methacrylic acid esters exports fell to $X in 2022. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 497% against the previous year. The exports peaked at $X in 2021, and then declined slightly in the following year.

Exports by Country

China (X tons) was the main destination for methacrylic acid esters exports from Malaysia, with a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +51.6%.

In value terms, China ($X) also remains the key foreign market for esters of methacrylic acid exports from Malaysia.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +47.2%.

Export Prices by Country

In 2022, the average methacrylic acid esters export price amounted to $X per ton, with a decrease of -4.7% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -2.9% per year.

Methacrylic Acid Esters Imports

Imports into Malaysia

In 2022, purchases abroad of esters of methacrylic acid decreased by -10.1% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by 26% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, methacrylic acid esters imports reduced dramatically to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +30.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 61%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of methacrylic acid esters to Malaysia, with a 54% share of total imports. Moreover, methacrylic acid esters imports from Thailand exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-2.9% per year) and Saudi Arabia (+80.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of esters of methacrylic acid to Malaysia, comprising 50% of total imports. The second position in the ranking was taken by Singapore ($X), with a 23% share of total imports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-4.9% per year) and Saudi Arabia (+75.7% per year).

Import Prices by Country

The average methacrylic acid esters import price stood at $X per ton in 2022, falling by -9.8% against the previous year. Over the period under review, the import price showed a noticeable setback. The pace of growth was the most pronounced in 2017 an increase of 40% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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