South Africa: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in South Africa

The South African methacrylic acid market dropped modestly to $X in 2022, shrinking by -2.2% 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). In general, consumption continues to indicate a perceptible decrease. Methacrylic acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Methacrylic Acid Exports

Exports from South Africa

After two years of growth, shipments abroad of methacrylic acid and its salts decreased by -91.6% to X kg in 2022. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 7,200% against the previous year. The exports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, methacrylic acid exports shrank markedly to $X in 2022. In general, exports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 2,696%. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

Liberia (X kg) was the main destination for methacrylic acid exports from South Africa, with a 74% share of total exports. Moreover, methacrylic acid exports to Liberia exceeded the volume sent to the second major destination, Mauritius (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Liberia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (0.0% per year) and Swaziland (+34.4% per year).

In value terms, Mauritius ($X), Liberia ($X) and Swaziland ($X) constituted the largest markets for methacrylic acid exported from South Africa worldwide.

Among the main countries of destination, Swaziland, with a CAGR of +22.3%, recorded 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 export price amounted to $X per ton, surging by 16% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 an increase of 397% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while the average price for exports to Liberia ($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 Malawi (-2.6%), while the prices for the other major destinations experienced a decline.

Methacrylic Acid Imports

Imports into South Africa

In 2022, the amount of methacrylic acid and its salts imported into South Africa declined to X tons, which is down by -6.7% on 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, methacrylic acid imports fell slightly to $X in 2022. Overall, imports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest methacrylic acid supplier to South Africa, with a 63% share of total imports. Moreover, methacrylic acid imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.8% per year) and the United States (-0.3% per year).

In value terms, China ($X) constituted the largest supplier of methacrylic acid and its salts to South Africa, comprising 58% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by the United States, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.7% per year) and the United States (+0.1% per year).

Import Prices by Country

The average methacrylic acid import price stood at $X per ton in 2022, increasing by 6.2% against the previous year. Overall, the import price, however, recorded a mild descent. The most prominent rate of growth was recorded in 2017 an increase of 41%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 the UK ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Swaziland (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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