Methacrylic Acid Price Trend and Forecast

Methacrylic Acid Regional Price Overview

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

Methacrylic Acid Price Trend for the Q3 of 2024

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Asia

Q3’24 witnessed significant changes in the methacrylic acid market across Asia. Early quarter operations saw mounting pressure from acetic acid costs, which shaped producer pricing strategies. Several facilities reduced output rates, creating temporary regional supply gaps. Plant maintenance schedules, particularly in China and Japan, further tightened material availability.
 

Methacrylic Acid Price Chart

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By September, market conditions began finding equilibrium as production capabilities improved, though overall sentiment remained optimistic due to steady demands from coating manufacturers. The prices in the Indian domestic market settled at around 2156 USD/MT (CIF) in September’24.

Europe

European methacrylic acid market witnessed a lot of challenges during Q3. Domestic producers faced dual pressures from climbing production costs and logistical hurdles at key ports. German manufacturing centres reported tight inventory positions, driving spot prices higher in adjacent markets. The latter half of the quarter saw demand patterns fluctuate as downstream industries adjusted purchasing volumes. Transportation bottlenecks gradually improved by September, though their earlier impact continued influencing regional pricing outlook for methacrylic acid.

North America

The US domestic market for methacrylic acid witnessed considerable volatility in Q3. Production faced disruptions from adverse weather, while simultaneously managing elevated acetic acid feedstock costs. Material movements saw delays from port congestion, prompting buyers to secure additional safety stock. Despite these challenges, production rates improved by the end of quarter as facilities returned to stable operations. Contract discussions reflected the quarter's supply uncertainties, with most settlements trending upward.

Analyst Insight

According to Procurement Resource, the prices for Methacrylic Acid are expected to maintain its current momentum in the coming quarter. Supply chain reliability and feedstock cost movements will likely remain key factors shaping regional market dynamics.
 

Methacrylic Acid Price Trend for the Q2 of 2024

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Asia

In Q2 2024, methacrylic acid prices in China experienced a significant increase, driven by strong demand and low inventory levels. The acetone market also saw rising prices, further supporting methacrylic acid’s upward trend. Additionally, the supply was tight due to maintenance shutdowns of various production plants, contributing to the low inventory support and supporting an uptrend in the prices of the commodity.

On the other hand, the demand from the downstream market remained in the positive zone throughout the second quarter, particularly driven by automotive applications such as car lights and windows, fueled by the growing popularity of power vehicles. Although some production expansions might pace up the scale of production, traders anticipate that a slow but gradual recovery of the end-user markets will keep on supporting the demand for the commodity.

In India, on the other hand, the price of methacrylic acid settled at an average of 2091 USD/MT in June, registering a slight uptick from 2007 USD/MT in April. This reflected the stabilization of the demand and supply sectors of the market and raised the hopes of traders for the adjacent quarters.

Europe

In Q2 2024, methacrylic acid prices in the European market showed a notable upward trend primarily driven by improvements in demand fundamentals. The German domestic market witnessed a rise in methacrylic acid prices amidst signs of improving operation rates of the downstream industries and an increased inflow of investments. Although demand from downstream sectors like paints and coatings showed some recovery, overall sector performance remained subdued compared to previous years.

Methacrylic acid supply remained stable during this period, with purchases driven by immediate needs rather than speculative stockings. Despite stable supply, concerns over structural issues and trade protection measures resulted in skeptical expectations for export growth despite modest gains in exports to key markets like China.

This increased pace of the market was sustained till May, supported by low availability of finished goods and international demand, while June witnessed a slight decline driven by regional demand softening and increased inventory levels. However, the production sector did not lower their output volumes as they anticipate a significant recovery of the market in adjacent months after the lowering of ECB’S interest rates in June.

North America

In Q2 2024, the methacrylic acid market in the USA experienced a noticeable price increase under the positive influence of rising demand across key industries such as paints, coatings, and automotive. The paints and coatings sector saw a seasonal spike due to favorable weather conditions and increased residential, commercial, and infrastructure painting projects. Similarly, escalating production levels in the automotive sector contributed to higher demand for methacrylic acid in auto parts and coatings.

The export activities to countries like Belgium, India, Canada, and Mexico further tightened domestic supply, exerting upward pressure on prices. Supply constraints intensified as demand approached production capacity limits, exacerbated by rising costs of key raw materials such as acetone, influenced by increasing crude oil prices and supply chain challenges.

Analyst Insight

According to Procurement Resource, the price of Methacrylic Acid is estimated to fluctuate as the potential disruptions in supply chains and continued demand from critical sectors are expected to influence methacrylic acid pricing dynamics, with fluctuations in crude oil prices and energy costs also impacting production costs and market prices in the near term.
 

Methacrylic Acid Price Trend for the Q1 of 2024

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Asia

In the first quarter of 2024, the methacrylic acid market in China witnessed a notable increase, driven by various factors, including shifts in demand dynamics and supply-side operations. Early in the quarter, the prices experienced a temporary decline attributed to sluggish demand and limited downstream transactions. However, rising raw material prices and supply-side maintenance closures subsequently propelled prices upward.

The market outlook remains positive in the short term, with supply-side support temporarily in place and downstream demand following suit. There is cautious optimism about the market's strength among the traders as the overall outlook of the market remained relatively stable in the first quarter, but after the post-holiday season, the dynamics of methacrylic acid are expected to overturn.

On the other hand, in India, the market remained stagnant throughout the first quarter, with the January prices of methacrylic acid (CIF) averaging around 2025 USD/MT and March prices nearing 2023 USD/MT. This stagnancy could be attributed to the sustained balance of the supply and demand sectors of the region.

Europe

The European methacrylic acid market mirrored challenges seen in the US, as the market struggled with excess supply amid weakened demand from the construction and automotive sectors. Stable production levels have led to an abundance of methacrylic acid, compounded by declining crude oil prices affecting production costs. Economic growth concerns and geopolitical tensions further dampen demand from sectors like paint, coatings, adhesives, and textiles.

Despite uncertainties, the European market maintains cautious optimism, anticipating stable energy and feedstock prices but limited demand improvement in early 2024. The Lunar New Year additionally caused a frailer demand in China, impacting prices, while strengthening energy prices influenced production costs.

North America

In the US market, methacrylic acid prices maintained a steady trajectory, with demand not significantly surging from various industries like bisphenol A, methyl methacrylate, cosmetics, and pharmaceuticals. Although the start of 2024 showcased some restrained positive developments globally, including new capacity expansions in the US, the demand for methacrylic acid remained stagnant, leading to a disbalance of the supply and demand sectors.

In contrast, the phenol market faces ongoing weak demand and low production levels, particularly in the US, where pessimism persists regarding the impact of additional phenol capacities in China. Overall, the methacrylic acid market outlook remains cautiously neutral, with potential shifts in sentiment contingent on global supply disruptions and demand dynamics.

Analyst Insight

According to Procurement Resource, the price trend of Methacrylic Acid is estimated to be driven by the rising demand from the downstream industries and revamped production of the industrial sector, sustaining the supply-demand equilibria.
 

Methacrylic Acid Price Trend for the October - December of 2023

Asia

The revival of the methacrylic acid prices in the third quarter was not carried forward to the fourth quarter of 2023. In India, the October prices stood at around 2034 USD/MT (CIF, India), but the December prices of methacrylic acid fell to approximately 1975 USD/MT.

A number of factors were involved in this downward journey of methacrylic acid price trend. The foremost cause of concern which persisted throughout the fourth quarter was the feeble rate of economic recovery of the Asian countries. Due to this, the downstream industries had no scope for expansion, and the same was visible in the trajectory of the methacrylic acid price graph.

Europe

The cost of raw materials inched lower with each month of the last quarter as the methacrylic acid price trend continued on their southwards journey. In European countries, the overall dynamics of the region also did not look in favor of the methacrylic acid market as the downstream demand and consumer preferences shifted opposite to the methacrylic acid market momentum. Furthermore, the prices of upstream materials such as acetone and sulphuric acid also showed only minimal movement, and as a result, the methacrylic acid price remained on the lower end.

North America

A gradual fall in the cost of raw materials of methacrylic acid was observed in the last quarter of 2023. Along with this, the paints and coatings sector also failed to showcase any appreciation in its demand for methacrylic acid. The market further bore bearish sentiments on account of a significant decline in the export rates due to lower water levels in the Panama Canal, excessive rise in inventories, and high uncertainties in crude oil prices.

Analyst Insight

According to Procurement Resource, the price trend of Methacrylic Acid are expected to oscillate in the upcoming quarters as the outlook of raw materials cost and demand from the downstream industries does not look in favor of methacrylic acid price trend.
 

Methacrylic Acid Price Trend for the July - September of 2023

Asia

In Asian countries, the number of overseas purchases declined by a significant number along with the domestic demand for methacrylic acid led, to the southward movement of its price trend. The majority of Asian countries suffered from a lower number of inquiries of methacrylic acid during the third quarter of 2023.

The adverse weather conditions disrupted the supply chains and thus negatively affected the overall market sentiments of methacrylic acid. In addition to this, the growing concerns about the Asian economy proved to be a challenge for the methacrylic acid traders in the third quarter of 2023.

Europe

The European countries mimicked the methacrylic acid price trend observed in the Asian countries. In this region too, the contraction in demand from the chemicals industries and slower growth of the economy resulted in the downfall of the methacrylic acid market. The number of imports from Asian countries, however inclined, only resulted in the rise of inventories. Due to muted demand and the economic crisis faced by the region, the methacrylic acid price trend took a downward turn.

North America

The supply of methacrylic acid remained stable throughout the third quarter of 2023, while the rates of procurement from the downstream paints and coatings sector fell by a significant margin. The bearish trajectory of the methacrylic acid price graph was also a consequence of the negative outlook of overseas industries and the falling US currency. The upstream products also failed to provide the methacrylic acid market with its required momentum, and as a result of the synergistic effect of the above-mentioned causes, the methacrylic acid price trend faced southwards.

Analyst Insight

According to Procurement Resource, the price trend of Methacrylic Acid are estimated to decline on account of the weak appetite of consumers and growing concerns about falling global economic conditions.

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