U.S.: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in the U.S.

The U.S. methacrylic acid market amounted to $X in 2022, picking up by 11% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Methacrylic Acid Production in the U.S.

In value terms, methacrylic acid production dropped to $X in 2022. Overall, production, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2018 with an increase of 11% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Methacrylic Acid Exports

Exports from the U.S.

Methacrylic acid exports from the United States shrank sharply to X tons in 2022, which is down by -34.6% compared with 2021 figures. Over the period under review, exports recorded a slight decrease. The pace of growth was the most pronounced in 2017 when exports increased by 44%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, methacrylic acid exports dropped remarkably to $X in 2022. In general, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 60% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for methacrylic acid exports from the United States, accounting for a 38% share of total exports. Moreover, methacrylic acid exports to Canada exceeded the volume sent to the second major destination, Belgium (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-8.4% per year) and Mexico (-0.2% per year).

In value terms, the largest markets for methacrylic acid exported from the United States were Canada ($X), Mexico ($X) and Brazil ($X), together accounting for 59% of total exports. Belgium, India, the United Arab Emirates and South Africa lagged somewhat behind, together accounting for a further 34%.

Among the main countries of destination, India, with a CAGR of +69.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average methacrylic acid export price amounted to $X per ton, rising by 11% against the previous year. In general, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2018 an increase of 15% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Canada ($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 Brazil (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Imports

Imports into the U.S.

In 2022, methacrylic acid imports into the United States reduced dramatically to X tons, which is down by -17.8% compared with 2021 figures. In general, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of 352%. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, methacrylic acid imports reduced markedly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 660% against the previous year. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

South Korea (X tons), Thailand (X tons) and China (X tons) were the main suppliers of methacrylic acid imports to the United States, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +23.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of methacrylic acid and its salts to the United States, comprising 52% of total imports. The second position in the ranking was held by Thailand ($X), with a 23% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+19.6% per year) and Japan (-7.0% per year).

Import Prices by Country

In 2022, the average methacrylic acid import price amounted to $X per ton, growing by 2.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 68%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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