Scandinavia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Scandinavia

In 2022, the Scandinavia polymethyl methacrylate market increased by 4.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw buoyant growth. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Polymethyl Methacrylate Production in Scandinavia

In value terms, polymethyl methacrylate production reached $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 48%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports in Scandinavia

In 2022, exports of polymethyl methacrylate in primary forms in Scandinavia dropped to X tons, declining by -6.2% on the previous year's figure. Over the period under review, exports saw a noticeable setback. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports contracted modestly to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +23.1% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 27%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Sweden was the major exporting country with an export of about X tons, which accounted for 73% of total exports. It was distantly followed by Norway (X tons), committing a 26% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to polymethyl methacrylate exports from Sweden stood at -2.6%. At the same time, Norway (+1.2%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +1.2% from 2012-2022. From 2012 to 2022, the share of Norway increased by +8.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polymethyl methacrylate supplying countries in Scandinavia were Norway ($X) and Sweden ($X).

In terms of the main exporting countries, Norway, with a CAGR of +7.6%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, increasing by 3.3% against the previous year. In general, the export price posted a prominent increase. The growth pace was the most rapid in 2013 an increase of 30%. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+7.3%).

Polymethyl Methacrylate Imports

Imports in Scandinavia

In 2022, overseas purchases of polymethyl methacrylate in primary forms increased by 0.5% to X tons, rising for the second year in a row after three years of decline. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 72%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, polymethyl methacrylate imports rose significantly to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 63% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Sweden was the largest importer of polymethyl methacrylate in primary forms in Scandinavia, with the volume of imports amounting to X tons, which was approx. 73% of total imports in 2022. It was distantly followed by Finland (X tons), making up a 24% share of total imports. Norway (X tons) held a relatively small share of total imports.

Sweden was also the fastest-growing in terms of the polymethyl methacrylate in primary forms imports, with a CAGR of +5.3% from 2012 to 2022. At the same time, Finland (+4.1%) displayed positive paces of growth. By contrast, Norway (-4.5%) illustrated a downward trend over the same period. While the share of Sweden (+5.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Norway (-4.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Scandinavia, comprising 71% of total imports. The second position in the ranking was taken by Finland ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +6.2%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (-0.6% per year) and Norway (+11.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 18%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+17.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform