Singapore: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Singapore

In 2022, after three years of decline, there was significant growth in the Singaporean methacrylic acid esters market, when its value increased by 5.7% to $X. In general, consumption enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Methacrylic Acid Esters Production in Singapore

In value terms, methacrylic acid esters production contracted to $X in 2022 estimated in export price. Overall, production showed a slight slump. The pace of growth was the most pronounced in 2017 with an increase of 35% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Methacrylic Acid Esters Exports

Exports from Singapore

In 2022, the amount of esters of methacrylic acid exported from Singapore reduced sharply to X tons, waning by -15% on 2021. Overall, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by 33% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, methacrylic acid esters exports dropped dramatically to $X in 2022. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by 43%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), the United States (X tons) and India (X tons) were the main destinations of methacrylic acid esters exports from Singapore, with a combined 61% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +32.9%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United States ($X) and India ($X) were the largest markets for methacrylic acid esters exported from Singapore worldwide, together accounting for 61% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +33.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methacrylic acid esters export price amounted to $X per ton, which is down by -2.4% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 53% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and the United States ($X per ton), while the average price for exports to China ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Methacrylic Acid Esters Imports

Imports into Singapore

In 2022, overseas purchases of esters of methacrylic acid decreased by -60.3% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports recorded a slight slump. The growth pace was the most rapid in 2014 when imports increased by 292%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid esters imports shrank markedly to $X in 2022. In general, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 192%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of methacrylic acid esters imports to Singapore, together comprising 80% of total imports. The United States, Indonesia, Thailand and the Netherlands lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid esters suppliers to Singapore were China ($X), the United States ($X) and Germany ($X), with a combined 55% share of total imports. Japan, Indonesia, Thailand and the Netherlands lagged somewhat behind, together accounting for a further 17%.

Indonesia, with a CAGR of +33.1%, saw the highest growth rate of the value of imports, in terms of 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 methacrylic acid esters import price stood at $X per ton in 2022, picking up by 37% against the previous year. Overall, the import price recorded pronounced growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 59% against the previous year. Over the period under review, average import prices reached the maximum in 2022 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 the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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