South-Eastern Asia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in South-Eastern Asia

The Southeast Asian acrylic acid esters market rose rapidly to $X in 2022, surging by 6.8% against the previous year. Over the period under review, consumption saw a prominent increase. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Acid Esters Production in South-Eastern Asia

In value terms, acrylic acid esters production rose slightly to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Acid Esters Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of esters of acrylic acid were exported in South-Eastern Asia; which is down by -35.4% against the previous year. Overall, exports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2019 with an increase of 91% against the previous year. The volume of export peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, acrylic acid esters exports fell sharply to $X in 2022. Over the period under review, exports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 152%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia represented the largest exporting country with an export of about X tons, which resulted at 78% of total exports. It was distantly followed by Indonesia (X tons), mixing up a 17% share of total exports. Singapore (X tons) held a minor share of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of esters of acrylic acid. Indonesia (-3.5%) and Singapore (-17.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest acrylic acid esters supplier in South-Eastern Asia, comprising 67% of total exports. The second position in the ranking was held by Indonesia ($X), with a 28% share of total exports.

In Malaysia, acrylic acid esters exports decreased by an average annual rate of -1.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+2.4% per year) and Singapore (-15.8% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, jumping by 26% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 41% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($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 (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Acrylic Acid Esters Imports

Imports in South-Eastern Asia

In 2022, acrylic acid esters imports in South-Eastern Asia declined to X tons, waning by -4.4% against the previous year. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +41.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, acrylic acid esters imports expanded to $X in 2022. In general, imports, however, showed resilient growth. The growth pace was the most rapid in 2021 when imports increased by 112%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the four major importers of esters of acrylic acid, namely Indonesia, Thailand, Vietnam and Malaysia, represented more than two-thirds of total import. Singapore (X tons) held a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (8.1%).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +16.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic acid esters importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined 69% share of total imports. Singapore, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 31%.

Malaysia, with a CAGR of +14.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 6.7% against the previous year. Over the period under review, the import price showed a mild increase. The growth pace was the most rapid in 2021 when the import price increased by 44%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($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 (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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