Acrylic Polymer Market

The article discusses the increasing demand for acrylic polymers (in primary forms) worldwide, with projections indicating a steady upward consumption trend. Market performance is expected to grow at a CAGR of +2.5% in volume and +1.2% in value from 2022 to 2030. Key findings include fluctuations in consumption and production patterns, with notable growth rates in certain countries. The highest volumes of consumption and production are concentrated in China, the United States, and India. The dominance of acrylic polymers (excluding polymethyl methacrylate) in both consumption and production is evident. The article also highlights trends in imports and exports of acrylic polymers, with prices experiencing fluctuations over the analyzed period.

Market Forecast

Driven by increasing demand for acrylic polymers (in primary forms) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 30M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market value to $81.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Acrylic Polymers (In Primary Forms)

After six years of growth, consumption of acrylic polymers (in primary forms) decreased by -3.4% to 25M tons in 2022. The total consumption volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 26M tons in 2021, and then fell in the following year.

The global acrylic polymer market revenue contracted to $73.7B in 2022, dropping by -5.6% against 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 +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $78.1B, and then fell in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.2M tons), the United States (3.7M tons) and India (2M tons), with a combined 44% share of global consumption. Japan, Indonesia, Spain, Brazil, Germany, Mexico, Canada, South Korea, Italy and Turkey lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +18.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymer markets worldwide were the United States ($11.3B), China ($9.5B) and India ($3.1B), together accounting for 32% of the global market. Japan, Germany, Brazil, Canada, Mexico, Indonesia, Italy, Turkey, Spain and South Korea lagged somewhat behind, together accounting for a further 21%.

Among the main consuming countries, Spain, with a CAGR of +14.2%, saw the highest rates of growth with regard to market size 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 polymer per capita consumption in 2022 were Spain (19 kg per person), Canada (15 kg per person) and the United States (11 kg per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +18.3%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) (23M tons) constituted the product with the largest volume of consumption, accounting for 92% of total volume. Moreover, acrylic polymers, in primary forms (excluding polymethyl methacrylate) exceeded the figures recorded for the second-largest type, polymethyl methacrylate in primary forms (2M tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of the volume of acrylic polymers, in primary forms (excluding polymethyl methacrylate) consumption totaled +4.4%.

In value terms, acrylic polymers, in primary forms (excluding polymethyl methacrylate) ($47.1B) led the market, alone. The second position in the ranking was held by polymethyl methacrylate in primary forms ($5.9B).

From 2012 to 2022, the average annual growth rate of the value of acrylic polymers, in primary forms (excluding polymethyl methacrylate) market amounted to +3.5%.

Production

World Production of Acrylic Polymers (In Primary Forms)

After three years of growth, production of acrylic polymers (in primary forms) decreased by -4.3% to 25M tons in 2022. The total output volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, production attained the peak volume of 26M tons, and then dropped in the following year.

In value terms, acrylic polymer production declined to $53.2B in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +15.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. As a result, production reached the peak level of $58.2B, and then dropped in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (5.2M tons), the United States (3.8M tons) and India (1.9M tons), with a combined 44% share of global production. Japan, South Korea, Germany, Indonesia, Spain, Brazil, France, Belgium, Mexico and Turkey lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Spain (with a CAGR of +21.1%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) (23M tons) constituted the product with the largest volume of production, accounting for 93% of total volume. Moreover, acrylic polymers, in primary forms (excluding polymethyl methacrylate) exceeded the figures recorded for the second-largest type, polymethyl methacrylate in primary forms (1.8M tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of acrylic polymers, in primary forms (excluding polymethyl methacrylate) production totaled +4.3%.

In value terms, acrylic polymers, in primary forms (excluding polymethyl methacrylate) ($47.9B) led the market, alone. The second position in the ranking was taken by polymethyl methacrylate in primary forms ($5.3B).

For acrylic polymers, in primary forms (excluding polymethyl methacrylate), production expanded at an average annual rate of +3.7% over the period from 2012-2022.

Imports

World Imports of Acrylic Polymers (In Primary Forms)

In 2022, supplies from abroad of acrylic polymers (in primary forms) decreased by -3.9% to 8.4M tons for the first time since 2011, thus ending a ten-year rising trend. The total import volume increased at an average annual rate of +3.8% 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 9.8%. As a result, imports reached the peak of 8.7M tons, and then dropped slightly in the following year.

In value terms, acrylic polymer imports expanded markedly to $21.3B in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 26%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, China (972K tons), followed by the United States (458K tons) and Germany (455K tons) represented the major importers of acrylic polymers (in primary forms), together committing 22% of total imports. The following importers - Italy (348K tons), Poland (334K tons), India (305K tons), France (294K tons), Canada (288K tons), Turkey (282K tons), Belgium (254K tons), Vietnam (249K tons), the Netherlands (225K tons) and Mexico (209K tons) - together made up 33% of total imports.

Imports into China increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Vietnam (+15.7%), India (+15.0%), the United States (+7.2%), Turkey (+5.9%), Canada (+4.6%), Poland (+4.4%), Italy (+2.9%), Belgium (+2.4%), Mexico (+2.0%), Germany (+1.1%) and the Netherlands (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +15.7% from 2012-2022. France experienced a relatively flat trend pattern. India (+2.3 p.p.), Vietnam (+2 p.p.) and the United States (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest acrylic polymer importing markets worldwide were China ($2.5B), the United States ($1.4B) and Germany ($1.3B), together comprising 25% of global imports. Italy, Canada, India, France, Poland, Turkey, Belgium, Mexico, the Netherlands and Vietnam lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, India, with a CAGR of +12.8%, 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.

Imports By Type

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) dominates imports structure, finishing at 7.8M tons, which was near 93% of total imports in 2022. It was distantly followed by polymethyl methacrylate in primary forms (594K tons), constituting a 7.1% share of total imports.

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) was also the fastest-growing in terms of imports, with a CAGR of +4.0% from 2012 to 2022. At the same time, polymethyl methacrylate in primary forms (+1.1%) displayed positive paces of growth. While the share of acrylic polymers, in primary forms (excluding polymethyl methacrylate) (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of polymethyl methacrylate in primary forms (-2.1 p.p.) displayed negative dynamics.

In value terms, acrylic polymers, in primary forms (excluding polymethyl methacrylate) ($19.6B) constitutes the largest type of acrylic polymers (in primary forms) imported worldwide, comprising 92% of global imports. The second position in the ranking was taken by polymethyl methacrylate in primary forms ($1.7B), with an 8% share of global imports.

For acrylic polymers, in primary forms (excluding polymethyl methacrylate), imports increased at an average annual rate of +3.8% over the period from 2012-2022.

Import Prices By Type

In 2022, the average acrylic polymer import price amounted to $2,530 per ton, growing by 10% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 15%. Over the period under review, average import prices reached the maximum at $2,621 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major imported products. In 2022, the product with the highest price was polymethyl methacrylate in primary forms ($2,853 per ton), while the price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $2,505 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by acrylic polymers, in primary forms (excluding polymethyl methacrylate) (-0.3%).

Import Prices By Country

In 2022, the average acrylic polymer import price amounted to $2,530 per ton, increasing by 10% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15%. Global import price peaked at $2,621 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($3,096 per ton), while Vietnam ($1,815 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Acrylic Polymers (In Primary Forms)

In 2022, overseas shipments of acrylic polymers (in primary forms) decreased by -6.4% to 8.4M tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.8% against 2013 indices. The pace of growth appeared the most rapid in 2020 with an increase of 19% against the previous year. Over the period under review, the global exports reached the maximum at 8.9M tons in 2021, and then shrank in the following year.

In value terms, acrylic polymer exports amounted to $20.1B in 2022. In general, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, South Korea (1,058K tons), Germany (977K tons), China (966K tons), France (680K tons), Belgium (582K tons), the United States (577K tons), Japan (492K tons), the Netherlands (366K tons), Turkey (319K tons), Taiwan (Chinese) (315K tons), Malaysia (256K tons) and Singapore (225K tons) represented the main exporter of acrylic polymers (in primary forms) in the world, comprising 81% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +16.7%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.5B), South Korea ($2.1B) and the United States ($2B) appeared to be the countries with the highest levels of exports in 2022, together accounting for 33% of global exports. China, France, Belgium, Japan, the Netherlands, Taiwan (Chinese), Singapore, Turkey and Malaysia lagged somewhat behind, together comprising a further 48%.

In terms of the main exporting countries, Malaysia, with a CAGR of +13.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) prevails in exports structure, amounting to 8M tons, which was approx. 95% of total exports in 2022. It was distantly followed by polymethyl methacrylate in primary forms (423K tons), comprising a 5% share of total exports.

Acrylic polymers, in primary forms (excluding polymethyl methacrylate) was also the fastest-growing in terms of exports, with a CAGR of +3.9% from 2012 to 2022. Polymethyl methacrylate in primary forms experienced a relatively flat trend pattern. From 2012 to 2022, the share of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by +2.6 percentage points.

In value terms, acrylic polymers, in primary forms (excluding polymethyl methacrylate) ($19.2B) remains the largest type of acrylic polymers (in primary forms) supplied worldwide, comprising 95% of global exports. The second position in the ranking was held by polymethyl methacrylate in primary forms ($999M), with a 5% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports amounted to +3.6%.

Export Prices By Type

In 2022, the average acrylic polymer export price amounted to $2,396 per ton, rising by 8.6% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs at $2,495 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exported products. In 2022, the product with the highest price was acrylic polymers, in primary forms (excluding polymethyl methacrylate) ($2,389 per ton), while the average price for exports of polymethyl methacrylate in primary forms stood at $2,364 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by acrylic polymers, in primary forms (excluding polymethyl methacrylate) (-0.3%).

Export Prices By Country

The average acrylic polymer export price stood at $2,396 per ton in 2022, surging by 8.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 16%. Over the period under review, the average export prices reached the peak figure at $2,495 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,529 per ton), while Turkey ($1,600 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 (+1.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform