Southern Asia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Southern Asia

In 2022, the South Asian polymethyl methacrylate market increased by 0.6% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Polymethyl Methacrylate Production in Southern Asia

In value terms, polymethyl methacrylate production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 25%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports in Southern Asia

In 2022, polymethyl methacrylate exports in Southern Asia dropped markedly to X tons, declining by -15.5% on 2021. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2013 with an increase of 43%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports dropped sharply to $X in 2022. Over the period under review, exports recorded a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 43%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) represented roughly 99% of total exports in 2022.

India was also the fastest-growing in terms of the polymethyl methacrylate in primary forms exports, with a CAGR of -6.7% from 2012 to 2022. India (+9.4 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) also remains the largest polymethyl methacrylate supplier in Southern Asia.

In India, polymethyl methacrylate exports shrank by an average annual rate of -6.9% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, falling by -14% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 24% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.2% per year.

Polymethyl Methacrylate Imports

Imports in Southern Asia

In 2022, imports of polymethyl methacrylate in primary forms in Southern Asia expanded sharply to X tons, increasing by 8.1% on the year before. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 43%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, polymethyl methacrylate imports skyrocketed to $X in 2022. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 29%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, reaching X tons, which was near 87% of total imports in 2022. It was distantly followed by Bangladesh (X tons), comprising a 4.5% share of total imports. Nepal (X tons) and Pakistan (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polymethyl methacrylate imports into India stood at +8.5%. At the same time, Nepal (+29.6%), Bangladesh (+15.8%) and Pakistan (+10.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +29.6% from 2012-2022. From 2012 to 2022, the share of Nepal and Bangladesh increased by +3.5 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported polymethyl methacrylate in primary forms in Southern Asia, comprising 90% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 3.7% share of total imports. It was followed by Pakistan, with a 3.2% share.

In India, polymethyl methacrylate imports expanded at an average annual rate of +8.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+16.6% per year) and Pakistan (+5.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 6.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Nepal ($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 (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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