Acrylic Acid Esters Market

The article discusses the growth trends in the global market for esters of acrylic acid, projecting a steady increase in consumption volume and market value over the next eight years. It provides insights into consumption patterns, production levels, imports, and exports, highlighting key countries and their roles in the market. The data indicates steady growth in the acrylic acid esters market, with fluctuations observed in certain years.

Market Forecast

Driven by increasing demand for esters of acrylic acid worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market volume to 2.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $6.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Esters Of Acrylic Acid

After two years of growth, consumption of esters of acrylic acid decreased by -2.4% to 2.2M tons in 2022. The total consumption volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, global consumption hit record highs at 2.3M tons in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

The global acrylic acid esters market size dropped slightly to $4.9B in 2022, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $4.9B, leveling off in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (247K tons), the United States (200K tons) and China (182K tons), with a combined 29% share of global consumption. South Africa, Turkey, Germany, Italy, Belgium, Malaysia, Mexico, South Korea, Singapore and the Netherlands lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Malaysia (with a CAGR of +23.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest acrylic acid esters markets worldwide were the United States ($584M), India ($468M) and China ($467M), with a combined 31% share of the global market. Germany, Turkey, Italy, South Africa, the Netherlands, South Korea, Belgium, Mexico, Malaysia and Singapore lagged somewhat behind, together accounting for a further 40%.

Malaysia, with a CAGR of +23.0%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of acrylic acid esters per capita consumption in 2022 were Singapore (12 kg per person), Belgium (7.2 kg per person) and the Netherlands (3.8 kg per person).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +21.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Esters Of Acrylic Acid

Global acrylic acid esters production declined to 2M tons in 2022, which is down by -2.4% against the previous year's figure. The total output volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by 8.7%. As a result, production attained the peak volume of 2.1M tons, and then declined slightly in the following year.

In value terms, acrylic acid esters production dropped to $3.6B in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 49%. As a result, production attained the peak level of $4.3B, and then fell in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (505K tons), the United States (329K tons) and Germany (231K tons), together comprising 53% of global production. South Africa, Malaysia, Russia, South Korea, Belgium, France, the Czech Republic, Singapore, Taiwan (Chinese) and Saudi Arabia lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +1,225.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Esters Of Acrylic Acid

After three years of growth, supplies from abroad of esters of acrylic acid decreased by -9.8% to 2.2M tons in 2022. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. As a result, imports reached the peak of 2.4M tons, and then declined in the following year.

In value terms, acrylic acid esters imports contracted to $5.3B in 2022. Over the period under review, imports, however, showed measured growth. The pace of growth appeared the most rapid in 2021 when imports increased by 110% against the previous year. As a result, imports reached the peak of $5.7B, and then declined in the following year.

Imports By Country

Belgium (312K tons) and India (257K tons) represented roughly 26% of total imports in 2022. It was followed by Turkey (165K tons), the United States (133K tons) and Germany (131K tons), together creating a 20% share of total imports. The Netherlands (90K tons), Italy (89K tons), Mexico (81K tons), France (64K tons), China (63K tons), South Korea (57K tons), Spain (54K tons) and Switzerland (49K tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +7.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest acrylic acid esters importing markets worldwide were Belgium ($671M), India ($519M) and the United States ($424M), together accounting for 30% of global imports. Germany, Turkey, the Netherlands, Italy, Mexico, China, France, Spain, South Korea and Switzerland lagged somewhat behind, together comprising a further 41%.

Among the main importing countries, the Netherlands, with a CAGR of +10.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average acrylic acid esters import price stood at $2,470 per ton in 2022, surging by 2.7% against the previous year. Overall, the import price saw slight growth. The pace of growth was the most pronounced in 2021 when the average import price increased by 73% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($3,177 per ton), while Turkey ($1,999 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Esters Of Acrylic Acid

In 2022, after four years of growth, there was significant decline in shipments abroad of esters of acrylic acid, when their volume decreased by -10.4% to 2M tons. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of 2.2M tons, and then dropped in the following year.

In value terms, acrylic acid esters exports declined to $4.6B in 2022. In general, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2021 when exports increased by 133%. As a result, the exports attained the peak of $5.2B, and then shrank in the following year.

Exports By Country

The shipments of the four major exporters of esters of acrylic acid, namely China, Belgium, the United States and Germany, represented more than half of total export. France (132K tons) held the next position in the ranking, followed by Malaysia (115K tons) and Taiwan (Chinese) (90K tons). All these countries together held near 17% share of total exports. Russia (76K tons), South Korea (71K tons), Saudi Arabia (45K tons), the Czech Republic (42K tons), Japan (37K tons) and South Africa (35K tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +46.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest acrylic acid esters supplying countries worldwide were China ($804M), Belgium ($787M) and Germany ($563M), together accounting for 46% of global exports. The United States, France, Taiwan (Chinese), South Korea, Malaysia, Japan, Russia, the Czech Republic, South Africa and Saudi Arabia lagged somewhat behind, together accounting for a further 46%.

Saudi Arabia, with a CAGR of +38.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average acrylic acid esters export price amounted to $2,345 per ton, standing approx. at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 75% against the previous year. As a result, the export price attained the peak level of $2,346 per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($4,114 per ton), while Saudi Arabia ($1,312 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+22.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform