HS Code:
Methacrylic acid and its salts (HS Code: 2916.13) are organic compounds primarily used in the production of polymers, resins, and coatings. Methacrylic acid is a key raw material for manufacturing polymethyl methacrylate (PMMA), a transparent thermoplastic often used as a lightweight alternative to glass, and other methacrylate esters used in paints, adhesives, and textiles. This category also includes salts and esters derived from methacrylic acid, which have applications in various industrial processes. The global trade of methacrylic acid and its salts is driven by demand in the construction, automotive, and electronics industries, where these materials are essential for producing durable and high-performance products.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 600 million
24% of total trade of total trade
Increasing
USD 450 million
18% of total trade of total trade
Stable
USD 350 million
14% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 250 million
10% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for lightweight materials in automotive and aerospace industries
Increased production and trade of methacrylic acid-based polymers for fuel-efficient vehicle components
2021-2023
Shift towards sustainable and bio-based methacrylic acid production
Emerging technologies reducing dependency on fossil-based raw materials, influencing trade dynamics
2022-2023
Rising construction activities in Asia-Pacific
Higher demand for coatings and adhesives, boosting imports of methacrylic acid derivatives in the region
2020-2023
The European Union updated its REACH regulations, mandating stricter documentation and safety assessments for imported methacrylic acid and its salts to ensure environmental and human safety.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant suppliers
Several Chinese chemical manufacturers announced new production facilities to meet growing domestic and international demand, positioning China as a leading exporter.
July 2022
Likely to increase global supply, potentially lowering prices and intensifying competition
Ongoing trade disputes have led to fluctuating tariff rates on methacrylic acid products between the US and China, creating uncertainty for exporters and importers.
October 2022
Disrupted supply chains and increased costs for US importers reliant on Chinese supplies