Norway: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Norway

The Norwegian polymethyl methacrylate market totaled $X in 2022, increasing by 2.4% against the previous year. Overall, consumption posted a resilient expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Polymethyl Methacrylate Production in Norway

In value terms, polymethyl methacrylate production stood at $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The growth pace was the most rapid in 2016 with an increase of 55%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Norway

In 2022, approx. X tons of polymethyl methacrylate in primary forms were exported from Norway; growing by 4.9% on the previous year. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 39% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports dropped slightly to $X in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +113.0% against 2013 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 26% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell modestly in the following year.

Exports by Country

Germany (X tons) was the main destination for polymethyl methacrylate exports from Norway, accounting for a 20% share of total exports. Moreover, polymethyl methacrylate exports to Germany exceeded the volume sent to the second major destination, Israel (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+9.4% per year) and Poland (+46.0% per year).

In value terms, Germany ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Norway, comprising 21% of total exports. The second position in the ranking was taken by Israel ($X), with a 9.5% share of total exports. It was followed by Poland, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+8.8% per year) and Poland (+42.2% per year).

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, reducing by -8.3% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average export price increased by 35%. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Indonesia ($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 Sweden (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Polymethyl Methacrylate Imports

Imports into Norway

In 2022, overseas purchases of polymethyl methacrylate in primary forms increased by 66% to X tons, rising for the third consecutive year after four years of decline. In general, imports, however, showed a pronounced reduction. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, polymethyl methacrylate imports soared to $X in 2022. Over the period under review, imports showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of polymethyl methacrylate imports to Norway, with a combined 83% share of total imports. These countries were followed by Germany, the UK, the United States and Japan, which together accounted for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +76.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Norway, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +96.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+52.2% per year) and the Netherlands (+22.8% per year).

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2022, jumping by 67% against the previous year. Overall, the import price continues to indicate a prominent expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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