South-Eastern Asia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in South-Eastern Asia

The Southeast Asian polymethyl methacrylate market surged to $X in 2022, with an increase of 28% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +38.3% against 2019 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Polymethyl Methacrylate Production in South-Eastern Asia

In value terms, polymethyl methacrylate production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports in South-Eastern Asia

For the fifth consecutive year, South-Eastern Asia recorded growth in shipments abroad of polymethyl methacrylate in primary forms, which increased by 2.1% to X tons in 2022. Total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.3% against 2016 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 26%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, polymethyl methacrylate exports surged to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Singapore (X tons) represented the key exporter of polymethyl methacrylate in primary forms, generating 67% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 14% share, followed by Thailand (12%) and Indonesia (5.4%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polymethyl methacrylate exports from Singapore stood at +1.8%. At the same time, Malaysia (+14.4%), Indonesia (+13.0%), Thailand (+9.5%) and Vietnam (+6.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +14.4% from 2012-2022. Malaysia (+8.6 p.p.), Thailand (+4.7 p.p.) and Indonesia (+3 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -16.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest polymethyl methacrylate supplier in South-Eastern Asia, comprising 83% of total exports. The second position in the ranking was held by Malaysia ($X), with an 8.9% share of total exports. It was followed by Thailand, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +3.7%. In the other countries, the average annual rates were as follows: Malaysia (+8.0% per year) and Thailand (-1.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by 31% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 36%. 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 failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+1.9%), while the other leaders experienced a decline in the export price figures.

Polymethyl Methacrylate Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of polymethyl methacrylate in primary forms increased by 29% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 47%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, polymethyl methacrylate imports soared to $X in 2022. Over the period under review, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the main importing country with an import of about X tons, which recorded 41% of total imports. It was distantly followed by Malaysia (X tons), Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), together constituting a 55% share of total imports. The Philippines (X tons) held a little share of total imports.

Singapore was also the fastest-growing in terms of the polymethyl methacrylate in primary forms imports, with a CAGR of +38.3% from 2012 to 2022. At the same time, the Philippines (+18.6%), Vietnam (+9.5%), Thailand (+4.3%) and Indonesia (+2.0%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Singapore (+38 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Indonesia and Malaysia saw its share reduced by -5.3%, -11.6% and -24% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +36.2%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+2.4% per year) and Thailand (+1.3% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 18% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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