Mexico: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Mexico

In 2021, the Mexican market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 19% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Mexico

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded notably to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 32%. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Mexico

In 2021, the amount of acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Mexico soared to X tons, with an increase of 49% on 2020 figures. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 64% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. In general, total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +92.0% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Mexico, accounting for a 68% share of total exports. Moreover, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to the United States exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. The third position in this ranking was held by the Dominican Republic (X tons), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-5.1% per year) and the Dominican Republic (+5.8% per year).

In value terms, the United States ($X) remains the key foreign market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports from Mexico, comprising 69% of total exports. The second position in the ranking was held by Colombia ($X), with a 7.3% share of total exports. It was followed by El Salvador, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+3.7% per year) and El Salvador (+12.7% per year).

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Mexico

In 2021, overseas purchases of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 16% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 20%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplier to Mexico, accounting for a 67% share of total imports. Moreover, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+3.3% per year) and Japan (+2.2% per year).

In value terms, the United States ($X) constituted the largest supplier of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Mexico, comprising 68% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.6% per year) and Japan (+0.7% per year).

Import Prices by Country

In 2021, the average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, with an increase of 14% against the previous year. Over the period under review, the import price, however, showed a slight downturn. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform