Asia
During Q4'24, the 2-Ethylhexyl Acrylate (2-EHA) market in Asia demonstrated notable volatility. The quarter began with strong upward momentum, primarily driven by tight acrylic acid supply due to maintenance shutdowns at major facilities. Chinese manufacturers faced pressure as both key feedstocks - acrylic acid and ethylene - showed significant strength early in the quarter.
The market saw additional support from healthy demand in the coatings and adhesives sectors. However, by December, the pricing trend reversed as feedstock availability improved, particularly with increased ethylene imports from the US and the restart of several acrylic acid facilities in the region. Southeast Asian markets maintained relatively stable demand but experienced similar price fluctuations, albeit less pronounced.
Europe
European 2-EHA markets navigated through a challenging quarter with relatively stable pricing. The initial weeks saw modest upticks as producers attempted to maintain margins amid rising acrylic acid costs. However, these efforts were constrained by logistics challenges in receiving US ethylene shipments and subdued demand from downstream industries. The market faced additional pressure from competitive Asian imports, which limited producers' ability to implement significant price increases. The latter part of the quarter saw prices gradually soften as inventory levels remained comfortable and downstream demand stayed lukewarm, particularly in the construction and automotive sectors.
North America
The North American 2-EHA market showed distinct trends throughout Q4'24. The quarter started with firm pricing supported by stable domestic demand and elevated production costs. However, as the period progressed, the market faced downward pressure from abundant ethylene supply due to record US production levels. While acrylic acid costs remained relatively stable, the overall market dynamics led to margin pressure for producers. The region maintained steady production rates despite increasing competition from imports, but prices gradually declined through the quarter as supply remained ample against moderate demand.