Saudi Arabia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Saudi Arabia

In 2022, the Saudi polymethyl methacrylate market was finally on the rise to reach $X after four years of decline. Overall, consumption showed a slight increase. Polymethyl methacrylate consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Polymethyl Methacrylate Production in Saudi Arabia

In value terms, polymethyl methacrylate production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 118% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Polymethyl Methacrylate Exports

Exports from Saudi Arabia

In 2022, after six years of growth, there was significant decline in shipments abroad of polymethyl methacrylate in primary forms, when their volume decreased by -24.6% to X tons. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 250%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced markedly in the following year.

In value terms, polymethyl methacrylate exports dropped markedly to $X in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 99% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell sharply in the following year.

Exports by Country

China (X tons) was the main destination for polymethyl methacrylate exports from Saudi Arabia, with a 43% share of total exports. Moreover, polymethyl methacrylate exports to China exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. India (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +74.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+63.7% per year) and India (+36.8% per year).

In value terms, China ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Saudi Arabia, comprising 39% of total exports. The second position in the ranking was held by Turkey ($X), with a 9.7% share of total exports. It was followed by Spain, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +84.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+62.9% per year) and Spain (+270.3% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2017 an increase of 65%. The export price peaked at $X per ton in 2015; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Turkey ($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 the UK (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of polymethyl methacrylate in primary forms decreased by -14% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, posted a modest expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 81%. Over the period under review, imports reached the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, polymethyl methacrylate imports declined remarkably to $X in 2021. In general, imports recorded a slight setback. The growth pace was the most rapid in 2017 when imports increased by 108% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and India (X tons) were the main suppliers of polymethyl methacrylate imports to Saudi Arabia, with a combined 68% share of total imports. France, the United States, South Korea and the UK lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +36.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and France ($X) appeared to be the largest polymethyl methacrylate suppliers to Saudi Arabia, together comprising 59% of total imports.

China, with a CAGR of +25.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2021, declining by -7.3% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2017 an increase of 15% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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 the UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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