Ethyl Acetate Price Trend and Forecast

Ethyl Acetate Regional Price Overview

Get the latest insights on price movement and trend analysis of Ethyl Acetate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Ethyl Acetate Price Trend for the Q2 of 2024

Asia

In the second quarter of 2024, the price trends of ethyl acetate in the Asian markets closely mirrored the fluctuations in methanol prices, its primary feedstock. Initially, ethyl acetate prices in China experienced an upward trajectory, driven by the earlier momentum in methanol prices from the previous quarter. However, towards the latter part of the quarter, prices moved southwards, influenced by a slowdown in crude demand growth, which in turn impacted methanol prices.
 

Ethyl Acetate Price Chart

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Similarly, in India, ethyl acetate prices showed consistent variability, with minor increases in the first half of the quarter, followed by a downward shift later on. This trend was also primarily driven by the oscillating prices of methanol, along with the limited support from the downstream industries and export volumes. Despite these fluctuations, the overall trade volume of ethyl acetate in Asia operated at moderate levels, reflecting a balanced demand and supply scenario overall.

Europe

The European ethyl acetate market exhibited significant fluctuations during the same period, heavily influenced by the methanol and acetic acid price trends. The European markets saw periods of price increases in the middle of the quarter driven by rising demand from downstream pharmaceutical and solvent industries. However, price declines were observed when inventory volumes occasionally rose, leading to a temporary surplus in the market.

These mixed dynamics in methanol prices, coupled with regional supply and demand factors, resulted in a varied price trend for ethyl acetate. However, the limited import of feedstock chemicals from Asian countries supported the stabilization of the market but was not sufficient to support an uptrend in its prices. Overall, the market dynamics in Europe for ethyl acetate remained mixed, with periods of stability interspersed with fluctuations driven by changes in methanol prices and inventory levels.

North America

In the second quarter of 2024, the price trend of ethyl acetate in the US showed a clear decline, primarily influenced by lower feedstock costs and high inventory levels. The reduced prices for acetic acid and stable methanol prices played a significant role in driving down production costs.

Despite an increase in ethyl acetate production due to reduced inventories and stable demand from both domestic and international markets, manufacturers sustained their last quarter discounts. This trend reflects a cautious sentiment within the manufacturing sector. However, the construction industry remained a strong driver of ethyl acetate demand, particularly due to increased government expenditure on infrastructure projects.

Analyst Insight

According to Procurement Resource, the price of Ethyl Acetate is estimated to oscillate in the upcoming months under the influence of limited demand from the downstream industries and escalating cost of production.
 

Ethyl Acetate Price Trend for the Q1 of 2024

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Asia

During the first quarter the decline in ethyl acetate prices in the Asian countries was primarily influenced by methanol's sustained low contract prices, impacting the overall cost of production. Despite stable manufacturing operations and ample inventories, weak demand led traders to offer discounts to boost market activity. The high-interest rates and depreciation in the value of Asian currency against the US dollar further raised the skepticism of the traders. Additionally, rising energy costs and crude oil prices reduced the profitability of the manufacturing and trading sector.

On the export rise, the Red Seas crisis and high inflation limited the export volumes of ethyl acetate, raising the bar of domestic inventories. Further, the advent of the Chinese New Year and Spring festivities season in China reduced the appetite of the entire industrial sector and slowed down the production rates of ethyl acetate derivatives and, in turn, the demand for the product, resulting in the southward movement of its price trend.

Europe

In the German market, ethyl acetate prices remained stagnant due to reduced demand from the end-user sector and consistent import prices from China. The region also seemed to bear the ill consequences of decreased trading activities carried forward from the previous quarter.

The high interest rates and consistent pressure of inflation further limited the consumer purchasing power in downstream industries and exerted a negative influence on the pricing trajectory of ethyl acetate. However, the rise in the cost of base chemicals by the chemical industries due to operational challenges boosted the overall cost of production and stabilized the downward-moving prices of ethyl acetate during the first quarter of 2024.

North America

In the US market, ethyl acetate prices achieved stagnancy due to consistency in the pricing patterns of its primary feedstock, acetic acid. However, subdued international demand, attributed to ample inventories, limited the growth momentum of the market.

The rise in interest rates and the pressure of increasing crude oil prices dampened the purchasing power in downstream industries, resulting in slow market transactions. However, the domestic downstream industries reported a quick rebound in their momentum by the end of the quarter after a long southward phase, indicating the resurgence of the derivatives market of ethyl acetate. In the end phase of the quarter, the restocking activities further elevated ethyl acetate prices in the domestic market, signaling a potential shift towards increased demand and higher pricing dynamics.

Analyst Insight

According to Procurement Resource, the price trend of Ethyl Acetate is expected to improve gradually in the forthcoming quarters as the revamping of downstream activities and the rising cost of feedstock materials along with crude oil will support an uptrend in the prices of ethyl acetate.
 

Ethyl Acetate Price Trend for the October - December of 2023

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Asia

The instantaneous decline in the ethyl acetate price trend during the initial phase of the fourth quarter was based on the fall in the production costs and the prices of raw materials. The economic conditions of India and China improved at a slower pace, and the upstream industries also withdrew their support in the months of October and November’23. However, as the year and the quarter approached its end, the demand dynamics from the paint and construction industries moved upwards, leading to a rise in the ethyl acetate prices and helping it to rise from approximately 987 USD/MT (CIF, India) in November’23 to 1023 USD/MT at the end of December’23.

Europe

After the rough trajectories of the past quarter, the ethyl acetate price trend were somewhat afloat in the last quarter of 2023. The consumers tried to step into the tepid waters of the ethyl acetate market but were only met with rising inflation and interest rates. However, increasing costs of raw materials and slow but sustained momentum of the construction industries worked in favor of the ethyl acetate price graph.

North America

The ethyl acetate market in the US only showed minimal movement during the entire fourth quarter of 2023 and was able to maintain its stability despite the opposing factors. This stagnancy in the ethyl acetate price graph was due to a decline in the cost of methanol while a rise in demand from the downstream construction and paints and coatings industries.

The purchasing index of the consumers also improved during the quarter, while the manufacturing sector registered some contraction due to uncertainty in the cost of crude oil. The traders anticipated that the positives of the market might outweigh the negatives, but the lowered rates of procurement from the overseas industries and diminished number of their queries eventually played out to be the winning factor.

Analyst Insight

According to Procurement Resource, the price trend of Ethyl Acetate might experience oscillating future trend given the current uncertainties in the global market.
 

Ethyl Acetate Price Trend for the July - September of 2023

Asia

The ethyl acetate prices were able to maintain a smooth inclining trajectory in the third quarter of 2023 with the help of surging prices of its feedstock materials. The high demand for ethyl acetate and its derivatives and the expanding spending appetite of the consumer sector proved beneficial for the ethyl acetate price trend.

This scenario was followed in the majority of the Asian countries, but on the other hand, some nations also experienced a totally opposite trend. Thus, in total, the surge in the ethyl acetate prices during the third quarter of 2023 was moderate, as evident in the price quotation of ethyl acetate in India, where the prices grew from around 1064 USD/MT (CIF) in July to 1075 USD/MT (CIF) in September.

Europe

The bearish trajectory of the ethyl acetate price graph in the third quarter of 2023 was a consequence of the weak movement of the downstream industries and the excess availability of the product in the market. In addition to this, the declining cost of feedstock materials also degraded the market sentiments of ethyl acetate. Further, the influx of cheap imports from the overseas industries forced the domestic traders to reduce their price quotations leading to a decline in the ethyl acetate prices.

North America

The trend of ethyl acetate prices was stable during the initial weeks of the third quarter, but soon, with oscillating market sentiments, the ethyl acetate price trend slumped. The decline in the prices of raw materials was the major factor dictating the downward movement of ethyl acetate prices. Further, due to excess of inventories amid weak procurement from the downstream industries, the price trend of ethyl acetate experienced a downfall.

Analyst Insight

According to Procurement Resource, the price trend of Ethyl Acetate are expected to experience a declining trajectory as the demand and cost of feedstock materials seem to be sliding.
 

Ethyl Acetate Price Trend for the First Half of 2023

Asia

Mixed price trend were observed for Ethyl Acetate in the Asian market. Prices rose initially in the first quarter as the downstream demands from aroma and flavour industries inclined owing to the Chinese New Year holidays. But as the holidays got over a steady decline in demand was noticed in the second quarter. As the inventory levels rose and could cater to declining demands, ethyl acetate prices started falling in the Asian market.

Europe

The European Ethyl Acetate market had a good start in early Q1, but by the mid of Q1, prices started plummeting and continued to plunge till the end of Q2. The decline in the market offtakes primarily caused the prices to fall, but the decline in upstream costs also contributed to the falling prices. As crude oil and energy prices declined, manufacturing costs were cut down, while the reduction in transportation charges with freight normalization also brought the upstream costs down. Overall, low swinging price trend were observed.

North America

Contrary to the global pattern, the price trend of Ethyl Acetate performed fairly well in the American market during H1’23. Prices continued to grow during both quarters. The rise in demands from the downstream coating and adhesive industries remained the major driving factor. Continuous movement in inventory stocks also supported the inclining prices. As the industrial maintenance season constricted the supplies, prices got boosted. Overall, the market showed bullish behaviour.

Analyst Insight

According to the Procurement Resource, the Ethyl Acetate market is expected to continue fluctuating in the coming months, given the regional imbalances in downstream demands.

Procurement Resource provides latest prices of Ethyl Acetate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customization of price currencies and unit; extraction of price data as excel files to be used offline.