Malaysia: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Malaysia

The Malaysian methacrylic acid market dropped to $X in 2022, which is down by -11.1% 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). Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +13.9% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Methacrylic Acid Exports

Exports from Malaysia

For the third year in a row, Malaysia recorded growth in overseas shipments of methacrylic acid and its salts, which increased by 27% to X tons in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, methacrylic acid exports expanded rapidly to $X in 2022. In general, exports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 53% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for methacrylic acid exports from Malaysia, with a 48% share of total exports. Moreover, methacrylic acid exports to Indonesia exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by Sri Lanka (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia stood at +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.1% per year) and Sri Lanka (+23.5% per year).

In value terms, Sri Lanka ($X), India ($X) and the United Arab Emirates ($X) were the largest markets for methacrylic acid exported from Malaysia worldwide, with a combined 68% share of total exports.

The United Arab Emirates, with a CAGR of +10.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methacrylic acid export price amounted to $X per ton, which is down by -15.9% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 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 Singapore ($X per ton), while the average price for exports to Indonesia ($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 Vietnam (+0.0%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Imports

Imports into Malaysia

In 2022, approx. X tons of methacrylic acid and its salts were imported into Malaysia; flattening at 2021 figures. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume 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, imports decreased by -1.4% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 35%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid imports dropped sharply to $X in 2022. In general, imports posted notable growth. The pace of growth was the most pronounced in 2017 when imports increased by 50%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), South Korea (X tons) and China (X tons) were the main suppliers of methacrylic acid imports to Malaysia, together comprising 65% of total imports. Japan, Germany, Saudi Arabia, the Netherlands, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +25.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid suppliers to Malaysia were Thailand ($X), South Korea ($X) and China ($X), together accounting for 66% of total imports. Japan, Germany, the Netherlands, Saudi Arabia, Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further 23%.

The Netherlands, with a CAGR of +20.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average methacrylic acid import price amounted to $X per ton, dropping by -17.5% against the previous year. Overall, the import price continues to indicate a noticeable descent. The growth pace was the most rapid in 2021 when the average import price increased by 53%. Over the period under review, average import prices attained the peak figure 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 the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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