Kenya: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Kenya

The Kenyan polymethyl methacrylate market fell to $X in 2023, which is down by X% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Polymethyl Methacrylate Production in Kenya

In value terms, polymethyl methacrylate production declined to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable increase. The growth pace was the most rapid in 2015 when the production volume increased by X%. Polymethyl methacrylate production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

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Polymethyl Methacrylate Exports

Exports from Kenya

In 2023, polymethyl methacrylate exports from Kenya skyrocketed to X tons, with an increase of X% on the year before. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports skyrocketed to $X in 2023. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Malawi (X tons) was the main destination for polymethyl methacrylate exports from Kenya, accounting for a X% share of total exports. Moreover, polymethyl methacrylate exports to Malawi exceeded the volume sent to the second major destination, Burundi (X tons), threefold. The third position in this ranking was held by Rwanda (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Malawi totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (X% per year) and Rwanda (X% per year).

In value terms, Malawi ($X), Rwanda ($X) and Burundi ($X) constituted the largest markets for polymethyl methacrylate exported from Kenya worldwide, with a combined X% share of total exports.

Burundi, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price saw a slight setback. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Uganda ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Kenya

After two years of decline, overseas purchases of polymethyl methacrylate in primary forms increased by X% to X tons in 2023. Overall, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate imports skyrocketed to $X in 2023. In general, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, India (X tons) constituted the largest polymethyl methacrylate supplier to Kenya, with a X% share of total imports. Moreover, polymethyl methacrylate imports from India exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Turkey (X% per year).

In value terms, Egypt ($X), South Korea ($X) and India ($X) were the largest polymethyl methacrylate suppliers to Kenya, together accounting for X% of total imports.

In terms of the main suppliers, Egypt, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2023, the average polymethyl methacrylate import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, showed a measured increase. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform