U.S. Methacrylic Acid Esters Imports
In February 2023, overseas purchases of esters of methacrylic acid decreased by -32% to 2.5K tons, falling for the second consecutive month after two months of growth. In general, imports faced a abrupt downturn. The growth pace was the most rapid in August 2022 when imports increased by 67% m-o-m.
In value terms, methacrylic acid esters imports dropped dramatically to $11M (IndexBox estimates) in February 2023. Overall, imports recorded a abrupt decline. The pace of growth was the most pronounced in August 2022 with an increase of 50% against the previous month.
Imports by Country
Germany (518 tons), the UK (443 tons) and Brazil (382 tons) were the main suppliers of methacrylic acid esters imports to the United States, with a combined 53% share of total imports. South Korea, Japan, China, Thailand and India lagged somewhat behind, together comprising a further 46%.
From February 2022 to February 2023, the biggest increases were in South Korea (with a CAGR of +3.6%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, the largest methacrylic acid esters suppliers to the United States were Germany ($2.3M), the UK ($1.6M) and Brazil ($1.4M), together accounting for 50% of total imports. South Korea, Japan, India, China and Thailand lagged somewhat behind, together comprising a further 47%.
South Korea, with a CAGR of +2.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In February 2023, the methacrylic acid esters price amounted to $4,223 per ton (CIF, US), declining by -7.4% against the previous month. Over the period under review, import price indicated notable growth from February 2022 to February 2023: its price increased at an average monthly rate of +4.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, methacrylic acid esters import price increased by +31.8% against December 2022 indices. The pace of growth was the most pronounced in July 2022 an increase of 63% m-o-m. Over the period under review, average import prices hit record highs at $5,399 per ton in September 2022; however, from October 2022 to February 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was India ($5,881 per ton), while the price for Thailand ($2,612 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.