South-Eastern Asia: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in South-Eastern Asia

The Southeast Asian methacrylic acid esters market declined to $X in 2022, shrinking by -6.8% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +3.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Methacrylic Acid Esters Production in South-Eastern Asia

In value terms, methacrylic acid esters production dropped to $X in 2022 estimated in export price. Overall, production showed a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Methacrylic Acid Esters Exports

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of esters of methacrylic acid, when their volume decreased by -12.3% to X tons. Over the period under review, exports recorded a mild decline. The pace of growth appeared the most rapid in 2020 with an increase of 14%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, methacrylic acid esters exports dropped dramatically to $X in 2022. Overall, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 52%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) and Thailand (X tons) dominates exports structure, together achieving 89% of total exports. It was distantly followed by Indonesia (X tons), mixing up a 5.3% share of total exports. Malaysia (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +157.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +132.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, reducing by -3.2% against the previous year. Overall, the export price recorded a mild curtailment. The most prominent rate of growth was recorded in 2017 an increase of 49%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.4%), while the other leaders experienced a decline in the export price figures.

Methacrylic Acid Esters Imports

Imports in South-Eastern Asia

After two years of growth, purchases abroad of esters of methacrylic acid decreased by -18.6% to X tons in 2022. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 37%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank remarkably in the following year.

In value terms, methacrylic acid esters imports declined sharply to $X in 2022. Total imports indicated moderate growth 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, imports increased by +10.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 45% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) represented the largest importer of esters of methacrylic acid, generating 53% of total imports. Indonesia (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons) and the Philippines (X tons). All these countries together took near 42% share of total imports. Singapore (X tons) and Thailand (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to methacrylic acid esters imports into Malaysia stood at +7.2%. At the same time, the Philippines (+15.0%) and Vietnam (+3.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +15.0% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-1.8%) and Thailand (-10.7%) illustrated a downward trend over the same period. While the share of Malaysia (+15 p.p.) and the Philippines (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-2.4 p.p.), Thailand (-8 p.p.) and Indonesia (-10.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined 81% share of total imports. The Philippines, Singapore and Thailand lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, the Philippines, with a CAGR of +13.9%, saw the highest rates of growth with regard to the value of imports, 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, almost unchanged from the previous year. Overall, the import price saw a mild reduction. The growth pace was the most rapid in 2017 when the import price increased by 37%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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