MERCOSUR: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in MERCOSUR

The MERCOSUR acrylic acid esters market expanded to $X in 2022, picking up by 2.9% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -2.5% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Acrylic Acid Esters Production in MERCOSUR

In value terms, acrylic acid esters production rose to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -2.3% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 31%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports in MERCOSUR

In 2022, overseas shipments of esters of acrylic acid increased by 42% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 442% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, acrylic acid esters exports surged to $X in 2022. Overall, exports recorded significant growth. The growth pace was the most rapid in 2021 when exports increased by 378% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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 acrylic acid exports, with a CAGR of +25.7% from 2012 to 2022. From 2012 to 2022, the share of Brazil increased by +15 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest acrylic acid esters supplier in MERCOSUR.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +24.1%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, picking up by 46% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 58% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 -1.3% per year.

Acrylic Acid Esters Imports

Imports in MERCOSUR

In 2022, purchases abroad of esters of acrylic acid was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2018 when imports increased by 13%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, acrylic acid esters imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil was the largest importing country with an import of around X tons, which amounted to 40% of total imports. Argentina (X tons) ranks second in terms of the total imports with an 18% share, followed by Colombia (16%), Chile (14%) and Uruguay (6.2%). The following importers - Peru (X tons) and Ecuador (X tons) - each reached a 5.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to acrylic acid esters imports into Brazil stood at -6.0%. At the same time, Ecuador (+2.7%), Chile (+1.6%) and Uruguay (+1.2%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +2.7% from 2012-2022. Argentina, Colombia and Peru experienced a relatively flat trend pattern. While the share of Argentina (+5.2 p.p.), Chile (+4.9 p.p.), Colombia (+4.5 p.p.) and Uruguay (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-15.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported esters of acrylic acid in MERCOSUR, comprising 46% of total imports. The second position in the ranking was held by Argentina ($X), with a 20% share of total imports. It was followed by Chile, with a 14% share.

In Brazil, acrylic acid esters imports plunged by an average annual rate of -4.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+2.5% per year) and Chile (+3.2% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, picking up by 20% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 53%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform