Uruguay: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Uruguay

The Uruguayan market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) shrank notably to $X in 2021, dropping by -21.7% against the previous year. In general, consumption showed a abrupt slump. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Uruguay

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) skyrocketed to $X in 2021 estimated in export price. Overall, production showed a pronounced setback. Production of peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Uruguay

In 2021, after three years of decline, there was significant growth in shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), when their volume increased by 36% to X tons. Overall, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) was the main destination for exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Uruguay, accounting for a 86% share of total exports. Moreover, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Argentina exceeded the volume sent to the second major destination, Paraguay (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina amounted to +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+31.6% per year) and Brazil (-16.3% per year).

In value terms, Argentina ($X) remains the key foreign market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports from Uruguay, comprising 85% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Argentina stood at +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+26.0% per year) and Brazil (-18.5% per year).

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, increasing by 25% against the previous year. In general, the export price, however, saw a mild shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (-1.4%), while the prices for the other major destinations experienced a decline.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Uruguay

After two years of growth, overseas purchases of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -9% to X tons in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 13% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) totaled $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Uruguay, together comprising 69% of total imports. Mexico, South Korea, Italy, China and Argentina lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +31.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Brazil ($X) were the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Uruguay, together accounting for 66% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +53.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, picking up by 18% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform