South Africa: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in South Africa

The South African methacrylic acid esters market fell significantly to $X in 2022, with a decrease of -31.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +33.2% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Methacrylic Acid Esters Exports

Exports from South Africa

After three years of growth, shipments abroad of esters of methacrylic acid decreased by -39.7% to X tons in 2022. Overall, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 869% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, methacrylic acid esters exports declined notably to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,760%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Switzerland (X tons) were the main destinations of methacrylic acid esters exports from South Africa, together comprising 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +152.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Switzerland ($X) and the United States ($X) appeared to be the largest markets for methacrylic acid esters exported from South Africa worldwide, with a combined 82% share of total exports.

The United States, with a CAGR of +106.0%, saw the highest growth rate of the value of exports, among the main countries of destination 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, surging by 19% against the previous year. Over the period under review, the export price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2013 an increase of 92%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+43.9%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Esters Imports

Imports into South Africa

In 2022, imports of esters of methacrylic acid into South Africa contracted remarkably to X tons, waning by -29.8% against the previous year. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +5.2% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 54%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, methacrylic acid esters imports contracted dramatically to $X in 2022. In general, imports, however, showed perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 120% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest methacrylic acid esters supplier to South Africa, with a 85% share of total imports. Moreover, methacrylic acid esters imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. China (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.9% per year) and China (-3.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of esters of methacrylic acid to South Africa, comprising 84% of total imports. The second position in the ranking was held by the United States ($X), with an 8.1% share of total imports. It was followed by China, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.0% per year) and China (-6.1% per year).

Import Prices by Country

In 2022, the average methacrylic acid esters import price amounted to $X per ton, shrinking by -4.1% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 47%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :