Russian Federation: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in the Russian Federation

In 2022, the Russian methacrylic acid esters market increased by 5.2% to $X, rising for the sixth consecutive year after two years of decline. Overall, consumption continues to indicate significant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Methacrylic Acid Esters Production in the Russian Federation

In value terms, methacrylic acid esters production shrank sharply to $X in 2022 estimated in export price. Over the period under review, production recorded a sharp reduction. The pace of growth appeared the most rapid in 2016 with an increase of 312% against the previous year. Methacrylic acid esters production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Methacrylic Acid Esters Exports

Exports from the Russian Federation

In 2021, shipments abroad of esters of methacrylic acid was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 120%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, methacrylic acid esters exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for methacrylic acid esters exports from Russia, accounting for a 78% share of total exports. Moreover, methacrylic acid esters exports to Belgium exceeded the volume sent to the second major destination, Belarus (X tons), fourfold. Ireland (X tons) ranked third in terms of total exports with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+29.9% per year) and Ireland (+28.6% per year).

In value terms, Belgium ($X) remains the key foreign market for esters of methacrylic acid exports from Russia, comprising 69% of total exports. The second position in the ranking was taken by Belarus ($X), with a 25% share of total exports. It was followed by Ireland, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+42.4% per year) and Ireland (+32.8% per year).

Export Prices by Country

The average methacrylic acid esters export price stood at $X per ton in 2021, growing by 93% against the previous year. Over the period under review, the export price posted a pronounced increase. The pace of growth was the most pronounced in 2014 an increase of 118% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

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 Bulgaria ($X per ton), while the average price for exports to Belgium ($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 Bulgaria (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Esters Imports

Imports into the Russian Federation

In 2022, overseas purchases of esters of methacrylic acid decreased by -5.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 365% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, methacrylic acid esters imports shrank remarkably to $X in 2022. Overall, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 229% against the previous year. Imports peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of methacrylic acid esters to Russia, accounting for a 50% share of total imports. Moreover, methacrylic acid esters imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by France (X tons), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +76.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+30.5% per year) and France (+81.3% per year).

In value terms, China ($X) constituted the largest supplier of esters of methacrylic acid to Russia, comprising 54% of total imports. The second position in the ranking was held by France ($X), with a 20% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+67.4% per year) and Japan (+24.0% per year).

Import Prices by Country

The average methacrylic acid esters import price stood at $X per ton in 2022, reducing by -13.8% against the previous year. Overall, the import price saw a perceptible shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 94%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+73.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :