Belgium: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Belgium

In 2022, the Belgian methacrylic acid market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a noticeable curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Methacrylic Acid Production in Belgium

In value terms, methacrylic acid production stood at $X in 2022 estimated in export price. Overall, production recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2015 when the production volume increased by X,100%. Methacrylic acid production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Methacrylic Acid Exports

Exports from Belgium

In 2022, after two years of growth, there was significant decline in shipments abroad of methacrylic acid and its salts, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, methacrylic acid exports expanded slightly to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X tons) was the main destination for methacrylic acid exports from Belgium, with a X% share of total exports. Moreover, methacrylic acid exports to France exceeded the volume sent to the second major destination, Germany (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Spain (X% per year).

In value terms, France ($X) remains the key foreign market for methacrylic acid and its salts exports from Belgium, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual growth rate of value to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Spain (X% per year).

Export Prices by Country

In 2022, the average methacrylic acid export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price 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, methacrylic acid export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and the UK ($X per ton), while the average price for exports to Finland ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Methacrylic Acid Imports

Imports into Belgium

In 2022, after five years of growth, there was decline in overseas purchases of methacrylic acid and its salts, when their volume decreased by X% to X tons. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, methacrylic acid imports expanded sharply to $X in 2022. Overall, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and the United States (X tons) were the main suppliers of methacrylic acid imports to Belgium, together accounting for X% of total imports. Thailand, the Netherlands, South Korea and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) constituted the largest methacrylic acid suppliers to Belgium, with a combined X% share of total imports. The Netherlands, Thailand, South Korea and the UK lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average methacrylic acid import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price 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, methacrylic acid import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the United States ($X per ton), while the price for Thailand ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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