Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate) Market

The article discusses the global market trends for acrylic polymers in primary forms (excluding polymethyl methacrylate), forecasting an upward consumption trend over the next eight years. Key points include market performance, consumption and production volumes, import and export trends, as well as top consuming and producing countries. Significant fluctuations in consumption, production, and trade patterns are highlighted, with insights into growth rates, market values, and per capita consumption levels.

Market Forecast

Driven by increasing demand for acrylic polymers, in primary forms (excluding polymethyl methacrylate) 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 28M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $66.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

After six years of growth, consumption of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -4.5% to 23M tons in 2022. The total consumption 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. Over the period under review, global consumption of hit record highs at 24M tons in 2021, and then declined modestly in the following year.

The value of the market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) worldwide dropped modestly to $47.1B in 2022, reducing by -4.9% 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 +3.5% 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 $49.6B, and then declined modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (4.8M tons), the United States (3.5M tons) and India (1.9M tons), together comprising 45% of global consumption. Japan, Indonesia, Spain, Brazil, Mexico, Germany, Canada, South Korea, Italy and Turkey lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of methacrylate), amongst the leading consuming countries, was attained by Spain (with a CAGR of +20.1%), while methacrylate) for the other global leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) markets worldwide were the United States ($10.5B), China ($8.7B) and India ($2.8B), together accounting for 47% of the global market. Japan, Germany, Canada, Brazil, Mexico, Indonesia, Italy, Turkey, Spain and South Korea lagged somewhat behind, together accounting for a further 29%.

Spain, with a CAGR of +16.2%, saw the highest growth rate of market size among the main consuming countries over the period under review, while methacrylate) for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of acrylic polymers, in primary forms (excluding polymethyl methacrylate) per capita consumption in 2022 were Spain (19 kg per person), Canada (14 kg per person) and the United States (10 kg per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +20.0%), while methacrylate) for the other global leaders experienced more modest paces of growth.

Production

World Production of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

In 2022, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -4.7% to 23M tons for the first time since 2018, thus ending a three-year rising trend. The total output volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the production volume increased by 13% against the previous year. As a result, production attained the peak volume of 24M tons, and then declined slightly in the following year.

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) reduced to $47.9B in 2022 estimated in export price. In general, the total production indicated a noticeable 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 +16.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $52.7B, and then fell in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (5M tons), the United States (3.6M tons) and India (1.7M tons), together comprising 45% of global production. Japan, South Korea, Germany, Indonesia, Spain, France, Brazil, Mexico, Belgium and Turkey lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of methacrylate), amongst the key producing countries, was attained by Spain (with a CAGR of +22.8%), while methacrylate) for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

After ten years of growth, supplies from abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -3.4% to 7.8M tons in 2022. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 9.7% against the previous year. As a result, imports reached the peak of 8.1M tons, and then contracted slightly in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded rapidly to $19.6B in 2022. The total import value 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 when imports increased by 26%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports By Country

In 2022, China (780K tons), followed by the United States (444K tons) and Germany (441K tons) represented the major importers of acrylic polymers, in primary forms (excluding polymethyl methacrylate), together creating 21% of total imports. The following importers - Italy (331K tons), Poland (319K tons), France (287K tons), Canada (285K tons), India (274K tons), Turkey (266K tons), Belgium (242K tons), Vietnam (240K tons), the Netherlands (215K tons) and Mexico (190K tons) - together made up 34% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +16.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.1B), the United States ($1.4B) and Germany ($1.2B) appeared to be the countries with the highest levels of imports in 2022, with a combined 24% share of global imports. Italy, Canada, France, India, Poland, Turkey, Belgium, the Netherlands, Mexico and Vietnam lagged somewhat behind, together accounting for a further 34%.

In terms of the main importing countries, India, with a CAGR of +13.4%, 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.

Import Prices By Country

The average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $2,505 per ton in 2022, picking up by 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 15% against the previous year. Global import price peaked at $2,582 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 ($3,055 per ton), while Vietnam ($1,782 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 (+2.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

In 2022, after eight years of growth, there was decline in shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), when their volume decreased by -4% to 8M tons. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +64.1% against 2013 indices. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. The global exports peaked at 8.4M tons in 2021, and then dropped in the following year.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $19.2B in 2022. Over the period under review, total exports indicated a measured expansion 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, exports increased by +82.9% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by 28%. Over the period under review, the global exports of reached the maximum in 2022 and are likely to continue growth in the near future.

Exports By Country

The shipments of the twelve major exporters of acrylic polymers, in primary forms (excluding polymethyl methacrylate), namely Germany, China, South Korea, France, Belgium, the United States, Japan, the Netherlands, Turkey, Taiwan (Chinese), Malaysia and the UK, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Malaysia (with a CAGR of +16.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.5B), China ($2B) and the United States ($1.9B) constituted the countries with the highest levels of exports in 2022, with a combined 33% share of global exports.

Among the main exporting countries, China, with a CAGR of +13.6%, 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.

Export Prices By Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $2,389 per ton in 2022, picking up by 8.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16%. The global export price peaked at $2,475 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($3,496 per ton), while Turkey ($1,597 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 (+1.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform