South Africa: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in South Africa

The South African polymethyl methacrylate market stood at $X in 2022, almost unchanged from the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Polymethyl Methacrylate Production in South Africa

In value terms, polymethyl methacrylate production rose significantly to $X in 2022 estimated in export price. In general, production, however, showed a deep reduction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 44% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Polymethyl Methacrylate Exports

Exports from South Africa

In 2022, shipments abroad of polymethyl methacrylate in primary forms increased by 9.6% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a precipitous curtailment. The pace of growth was the most pronounced in 2018 with an increase of 94% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polymethyl methacrylate exports soared to $X in 2022. Over the period under review, exports, however, recorded a significant decrease. The most prominent rate of growth was recorded in 2018 with an increase of 188% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main destinations of polymethyl methacrylate exports from South Africa, with a combined 73% share of total exports. These countries were followed by Nigeria, Mozambique, Saint Helena, Ascension and Tristan da Cunha and Mauritius, which together accounted for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +68.5%), while the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Turkey ($X) and Nigeria ($X) appeared to be the largest markets for polymethyl methacrylate exported from South Africa worldwide, with a combined 63% share of total exports.

Nigeria, with a CAGR of +93.1%, recorded the highest growth rate of the value of exports, in terms of 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

The average polymethyl methacrylate export price stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, the export price, however, showed a noticeable decline. The growth pace was the most rapid in 2018 an increase of 48%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while the average price for exports to Saint Helena, Ascension and Tristan da Cunha ($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 Nigeria (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into South Africa

For the third year in a row, South Africa recorded decline in supplies from abroad of polymethyl methacrylate in primary forms, which decreased by -22% to X tons in 2022. Over the period under review, imports continue to indicate a slight descent. The growth pace was the most rapid in 2014 when imports increased by 52% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, polymethyl methacrylate imports dropped to $X in 2022. In general, imports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of polymethyl methacrylate imports to South Africa, with a combined 75% share of total imports. Italy, Taiwan (Chinese), Thailand, Spain, Japan and China lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +40.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polymethyl methacrylate suppliers to South Africa were Germany ($X), South Korea ($X) and the United States ($X), together accounting for 75% of total imports. Taiwan (Chinese), Italy, Thailand, Japan, Spain and China lagged somewhat behind, together comprising a further 18%.

Spain, with a CAGR of +28.6%, recorded 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 2022, picking up by 10% against the previous year. In general, the import price, however, showed a slight slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by 31%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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