Thailand: Methacrylic Acid Esters Market 2024

Methacrylic Acid Esters Market Size in Thailand

In 2022, the Thai methacrylic acid esters market increased by 48% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a noticeable shrinkage. Methacrylic acid esters consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Methacrylic Acid Esters Production in Thailand

In value terms, methacrylic acid esters production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild setback. The growth pace was the most rapid in 2017 when the production volume increased by 30% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Methacrylic Acid Esters Exports

Exports from Thailand

In 2022, methacrylic acid esters exports from Thailand contracted remarkably to X tons, which is down by -15.3% against the previous year's figure. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, methacrylic acid esters exports contracted markedly to $X in 2022. Overall, exports continue to indicate a slight slump. The pace of growth was the most pronounced in 2021 when exports increased by 67% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main destinations of methacrylic acid esters exports from Thailand, together accounting for 73% of total exports. Vietnam, China, India, the United States, Japan, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +242.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for methacrylic acid esters exported from Thailand were Indonesia ($X), Malaysia ($X) and the Netherlands ($X), with a combined 72% share of total exports. Vietnam, the United States, India, China, Japan, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 22%.

The United States, with a CAGR of +246.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average methacrylic acid esters export price stood at $X per ton in 2022, with a decrease of -1.5% against the previous year. In general, the export price continues to indicate a mild slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 46%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Esters Imports

Imports into Thailand

In 2022, overseas purchases of esters of methacrylic acid decreased by -9.6% to X tons, falling for the second year in a row after two years of growth. Overall, imports showed a abrupt downturn. The growth pace was the most rapid in 2019 when imports increased by 65%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid esters imports shrank to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2015 with an increase of 3.4% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of methacrylic acid esters imports to Thailand, together accounting for 91% of total imports. Taiwan (Chinese), Malaysia, Germany and the United States lagged somewhat behind, together comprising a further 8.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +214.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid esters suppliers to Thailand were Japan ($X), China ($X) and South Korea ($X), together accounting for 88% of total imports. Taiwan (Chinese), Germany, Malaysia and the United States lagged somewhat behind, together accounting for a further 7.7%.

Malaysia, with a CAGR of +180.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average methacrylic acid esters import price stood at $X per ton in 2022, with an increase of 3.7% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, methacrylic acid esters import price increased by +69.1% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 63% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($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 United States (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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