Australia: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Australia

In 2022, the Australian methacrylic acid market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Methacrylic acid consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Methacrylic Acid Exports

Exports from Australia

In 2018, exports of methacrylic acid and its salts from Australia dropped markedly to X tons, which is down by X% compared with 2017 figures. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2018, the growth of the exports failed to regain momentum.

In value terms, methacrylic acid exports contracted remarkably to $X in 2018. In general, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2018, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for methacrylic acid exports from Australia, accounting for a approx. X% share of total exports.

From 2013 to 2018, the average annual rate of growth in terms of volume to New Zealand amounted to X%.

In value terms, New Zealand ($X) also remains the key foreign market for methacrylic acid and its salts exports from Australia.

From 2013 to 2018, the average annual growth rate of value to New Zealand amounted to X%.

Export Prices by Country

In 2018, the average methacrylic acid export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2018, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for New Zealand.

From 2013 to 2018, the rate of growth in terms of prices for Thailand amounted to X% per year.

Methacrylic Acid Imports

Imports into Australia

In 2022, overseas purchases of methacrylic acid and its salts decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, methacrylic acid imports contracted to $X in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of methacrylic acid to Australia, accounting for a X% share of total imports. Moreover, methacrylic acid imports from South Korea exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of methacrylic acid and its salts to Australia, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average methacrylic acid import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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