U.S. benchmark and international crude benchmarks both fell as investors took profits following prior gains on the announcement of sweeping new U.S. sanctions targeting Iran. The 'Operation Economic Outcast' campaign imposes global sanctions with no exemption for China, creating uncertainty around Iranian oil flows. Prices remain volatile as markets assess whether the sanctions will successfully isolate Iran's energy sector or be circumvented.
Crude oil futures firmed amid firm spot demand, with both major global benchmarks edging higher in trade. Increased positioning by market participants reflected continued underlying demand support.
Asia
Throughout H2 of 2023, the methyl acrylate market endured oscillations as the market sentiments failed to support consistency in the market. The downstream industries faced the adverse consequences of rising inflation and interest rates. Additionally, the cost of feedstock materials such as acetone dipped with the fluctuations in the manufacturing sectors as the number of inquiries and new orders declined significantly. Thus, as a result, the manufacturers had to induce production cuts to keep the market activities afloat. Further, the rise in gas prices and lending rates also made the sustenance of the market difficult and depreciating the prices of methyl acrylate.
Europe
The decline in methyl acrylate prices during the third quarter was majorly based on the excessive rise in inventories and tepid demand for the commodities. The purchasing potential of buyers fell due to the increasing pressure of inflation and reduced consumer budgets. Additionally, the downstream polymer industries and their subsidiary also incurred a slowdown, hampering the overall outlook of the methyl acrylate market. However, in the last quarter, the dynamics shifted in a positive direction, but only a little. This incline in the later months came with support from the rising prices of crude oil due to production cuts by Russia and Saudi Arabia, which increased the cost of production and, in turn, the price trend of methyl acrylate.
North America
In the third quarter of 2023, the price trend of methyl acrylate fluctuated due to several factors. The foremost cause of this limited growth was the fall in the cost of feedstock materials and a hike in the prices of energy production. The demand for the product became only need-to-basis as the spending budget of the customers declined in view of rising inflation. But the fourth quarter proved to be fruitful for the methyl acrylate market and prices soon began their inclining journey. This was based on the closure of some manufacturing giants and the return of favorable consumer demand.
Analyst Insight
According to Procurement Resource, the price trend of Methyl Acrylate is estimated to face certain challenges due to the dipping cost of feedstock materials and uncertainty in demand.
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Asia
The revival of Asian markets after the holiday season led to a boost in the methyl acrylate market activities and also caused an incline in the buyer's interest in the first quarter. However, as the quarter approached its end, the surge in production activities in China surpassed the demand from the downstream industries, which initiated a decline in methyl acrylate prices.
A similar trend was seen in the second quarter too. In the initial phase, the rise in downstream consumption supported the inclining trajectory of methyl acrylate prices, but soon, this demand started to decline, and the level of inventories began to rise, causing a fall in the price trend of methyl acrylate.
Europe
In European countries, in the first quarter, methyl acrylate prices witnessed a positive incline. During this phase, the market activities were supported by the increased rates of consumption from the downstream industries and the high cost of production. However, this trend failed to continue in the second quarter as the weak performance of the economy showed its ill effects on the methyl acrylate price trend. In addition to this, the influx of cheaper imports from international markets challenged the growth of methyl acrylate prices.
North America
In North America, methyl acrylate prices experienced consistent growth during the initial phase due to steady demand and support from downstream industries. This upward trend was further propelled by increasing production costs, hikes in energy prices, and disruptions in supply chains caused by the shutting down of certain manufacturing facilities. However, towards the end of the first quarter, the lowering of downstream industry demand and a rise in inventory levels acted as obstacles, hindering the continued incline of methyl methacrylate prices.
The early months of the second quarter remained positive for methyl methacrylate prices, but as the quarter progressed, the declined rates of procurement from downstream industries and an influx of methyl methacrylate supplies in the region led to a downturn in the price trend of methyl acrylate.
Methyl Acrylate, more commonly the methyl ester of acrylic acid, is a highly volatile liquid with an unpleasant odour. It is a common irritant of the eyes and skin. Methyl Acrylate is a common monomer which is used in the production of acrylate fibres. It is produced via the esterification of methanol in the presence of an acid catalyst.
C4H6O2
Methyl propenoate, Methoxycarbonyl ethylene, Methyl prop-2-enoate
Evonik Industries AG, BASF SE, Nippon Shokubai Co., Ltd., Arkema Group, Millipore Sigma
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Methyl Acrylate is produced from methyl lactate via pyrolysis. Methyl lactate is contacted with a ZSM-5 catalyst in the presence of methanol. Higher yields of methyl acrylate are obtained when methanol is a solvent instead of water.
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