Southern Asia: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Southern Asia

The South Asian methacrylic acid esters market contracted modestly to $X in 2022, falling by -1.5% against the previous year. Over the period under review, consumption saw a remarkable increase. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Methacrylic Acid Esters Production in Southern Asia

In value terms, methacrylic acid esters production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Methacrylic Acid Esters Exports

Exports in Southern Asia

In 2022, the amount of esters of methacrylic acid exported in Southern Asia declined dramatically to X tons, which is down by -67.5% on the year before. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 281% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, methacrylic acid esters exports contracted sharply to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 152%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, recording X tons, which was near 97% of total exports in 2022. Bangladesh (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the esters of methacrylic acid exports, with a CAGR of +16.7% from 2012 to 2022. At the same time, Bangladesh (+12.7%) displayed positive paces of growth. Bangladesh (+2.2 p.p.) and India (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest methacrylic acid esters supplier in Southern Asia, comprising 98% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 1% share of total exports.

In India, methacrylic acid esters exports increased at an average annual rate of +17.2% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by 70% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.4%).

Methacrylic Acid Esters Imports

Imports in Southern Asia

Methacrylic acid esters imports declined to X tons in 2022, waning by -3% compared with the previous year. Over the period under review, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2021 when imports increased by 56% against the previous year. As a result, imports attained the peak of X tons, and then declined modestly in the following year.

In value terms, methacrylic acid esters imports contracted to $X in 2022. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2021 with an increase of 116%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

India dominates imports structure, recording X tons, which was approx. 92% of total imports in 2022. The following importers - Pakistan (X tons) and Bangladesh (X tons) - together made up 7.8% of total imports.

India was also the fastest-growing in terms of the esters of methacrylic acid imports, with a CAGR of +9.1% from 2012 to 2022. At the same time, Bangladesh (+8.1%) and Pakistan (+5.1%) displayed positive paces of growth. While the share of India (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported esters of methacrylic acid in Southern Asia, comprising 92% of total imports. The second position in the ranking was held by Pakistan ($X), with a 4.4% share of total imports.

In India, methacrylic acid esters imports increased at an average annual rate of +7.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+3.4% per year) and Bangladesh (+7.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, reducing by -7.7% against the previous year. In general, the import price saw a mild decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 50% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :