Methacrylic Acid Esters Market

The article discusses the increasing global demand for esters of methacrylic acid, with market projections showing steady growth in consumption and value. It covers trends in production, imports, and exports, as well as key players in the industry. The data reveals fluctuations in consumption and production volumes, with notable growth rates in certain regions. The article provides insights into per capita consumption rates, import and export prices, and the top importing and exporting countries in the market.

Market Forecast

Driven by increasing demand for esters of methacrylic acid worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 1.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $5.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Esters Of Methacrylic Acid

Global methacrylic acid esters consumption fell modestly to 1.5M tons in 2022, reducing by -4.6% on the previous year's figure. The total consumption volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 1.6M tons in 2021, and then contracted in the following year.

The global methacrylic acid esters market size declined to $3.6B in 2022, approximately equating 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). Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +39.1% against 2020 indices. As a result, consumption reached the peak level of $3.6B, leveling off in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (227K tons), the United States (152K tons) and Singapore (126K tons), together comprising 34% of global consumption. Germany, Japan, India, the Netherlands, Malaysia, France, Thailand, South Korea, Indonesia and Mexico lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Germany (with a CAGR of +35.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid esters markets worldwide were the United States ($576M), China ($427M) and Germany ($289M), together comprising 36% of the global market.

Among the main consuming countries, Germany, with a CAGR of +37.4%, recorded 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.

In 2022, the highest levels of methacrylic acid esters per capita consumption was registered in Singapore (22 kg per 1000 persons), followed by the Netherlands (4.4 kg per 1000 persons), Malaysia (2.2 kg per 1000 persons) and Germany (1.1 kg per 1000 persons), while the world average per capita consumption of methacrylic acid esters was estimated at 0.2 kg per 1000 persons.

In Singapore, methacrylic acid esters per capita consumption expanded at an average annual rate of +15.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+2.0% per year) and Malaysia (+1.7% per year).

Production

World Production of Esters Of Methacrylic Acid

In 2022, global production of esters of methacrylic acid shrank modestly to 1.5M tons, remaining relatively unchanged against 2021. The total output volume increased at an average annual rate of +3.0% over the period 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 the production volume increased by 22% against the previous year. As a result, production attained the peak volume of 1.5M tons, leveling off in the following year.

In value terms, methacrylic acid esters production contracted modestly to $2.4B in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22%. Global production peaked at $2.8B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (247K tons), Singapore (244K tons) and Saudi Arabia (199K tons), with a combined 47% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by China (with a CAGR of +756.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Esters Of Methacrylic Acid

In 2022, supplies from abroad of esters of methacrylic acid decreased by -14.5% to 1.2M tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 10%. Over the period under review, global imports attained the maximum at 1.4M tons in 2021, and then fell in the following year.

In value terms, methacrylic acid esters imports dropped to $3.2B in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. Over the period under review, global imports reached the maximum at $3.5B in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports By Country

The purchases of the twelve major importers of esters of methacrylic acid, namely the Netherlands, China, Belgium, India, Malaysia, the United States, Germany, France, Indonesia, South Korea, Mexico and Turkey, represented more than two-thirds of total import. Taiwan (Chinese) (36K tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United States (with a CAGR of +10.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($412M), the United States ($315M) and Belgium ($263M) constituted the countries with the highest levels of imports in 2022, together accounting for 31% of global imports.

The United States, with a CAGR of +11.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average methacrylic acid esters import price amounted to $2,666 per ton, rising by 8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 40%. Global import price peaked at $2,813 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 importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($3,900 per ton), while China ($1,825 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Esters Of Methacrylic Acid

In 2022, after two years of growth, there was significant decline in shipments abroad of esters of methacrylic acid, when their volume decreased by -10.2% to 1.2M tons. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 28%. The global exports peaked at 1.3M tons in 2021, and then dropped in the following year.

In value terms, methacrylic acid esters exports fell to $3B in 2022. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +42.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 50%. As a result, the exports reached the peak of $3.2B, and then reduced in the following year.

Exports By Country

The biggest shipments were from Saudi Arabia (190K tons), China (137K tons), Singapore (125K tons), the United States (122K tons), Thailand (118K tons), Japan (117K tons), Belgium (82K tons), the Netherlands (80K tons), Germany (75K tons), South Korea (52K tons) and Taiwan (Chinese) (50K tons), together resulting at 95% of total export.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest methacrylic acid esters supplying countries worldwide were Saudi Arabia ($421M), the United States ($409M) and China ($318M), together accounting for 38% of global exports. Japan, Germany, the Netherlands, Belgium, Singapore, Thailand, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 57%.

Belgium, with a CAGR of +10.2%, saw the highest growth rate of the value of exports, in terms of 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

The average methacrylic acid esters export price stood at $2,535 per ton in 2022, increasing by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2017 when the average export price increased by 33% against the previous year. The global export price peaked at $2,648 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($3,646 per ton), while Thailand ($1,739 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 (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform