Methyl Ethyl Ketone Price Trend and Forecast

Regional Price Overview

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

Methyl Ethyl Ketone Price Trend for the October - December of 2023

Asia

In India, the Methyl Ethyl Ketone price trend showed little movement and went from approximately 1236 USD/MT in October to 1235 USD/MT in December’23. However, on the other hand, the Chinese Methyl Ethyl Ketone market registered a series of month-on-month variations. These fluctuations in the region were based on weak demand from the industrial sector.

Methyl Ethyl Ketone Price Chart

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Initially, the production rates were far beyond the demand, but in the later stages of the quarter, some of the manufacturing units underwent maintenance shutdown, which opened up a window for the traders to increase their price quotations. However, the Methyl Ethyl Ketone prices could not incline by a noticeable margin as the downstream industries were still lukewarm in terms of demand.

Europe

The fourth quarter of 2023 had a mild start, but as the quarter progressed, the Methyl Ethyl Ketone market picked up its pace, and the prices went northwards. The major cause of this abrupt incline was the fall in exports from the US due to drought like conditions in the Panama Canal. This export struggle resulted in the loss of material for the construction and agrochemical industries as they presented appreciable demand for Methyl Ethyl Ketone. This imbalance of supply and demand, at last, worked in favor of Methyl Ethyl Ketone price trend.

North America

The US is one of the major exporters of Methyl Ethyl Ketone, and thus, the disruption in the trade routes due to the disruption of the Panama Canal route and port congestion at the Suez Canal negatively affected the overall outlook of the Methyl Ethyl Ketone market. This suppressed export rates led to an inevitable rise in the inventory levels as the existing demand was not sufficient to equalize the manufacturing rate. The trajectory of Methyl Ethyl Ketone price trend was further hindered by the consistent decline in the cost of crude oil and raw materials, which in turn lowered the entire cost of production.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Ethyl Ketone are likely to be dictated by the poor dynamics of downstream industries and limited support from global trading activities.

Methyl Ethyl Ketone Price Trend for the July-September of 2023

Asia

The methyl ethyl ketone market continued to follow a southwards trajectory in the third quarter of 2023. The downstream paint and coating industries showcased a significant decline in demand, and in addition to this, the feedstock butanol prices were unable to provide the required support to the methyl ethyl ketone market. Further, the weak recovery of Asia’s economy and muted market dynamics, along with the surge in production activities, eventually caused the downfall of the methyl ethyl ketone price trend.

Europe

The market for methyl ethyl ketone in Europe followed a similar trajectory as was seen in the Asian countries. The trading sentiments were hampered by the influx of cheap imports from Asian countries and limited support from the downstream industries.

The steep fall of the methyl ethyl ketone price graph was also supported by the weak demand and rise in the competition in the market. The abundant inventories and stable functioning of the supply chains further escalated the downfall of methyl ethyl ketone prices. However, the upstream industries remained stable, but the downstream solvent sector and construction industries failed to provide the required support.

North America

The number of offtakes of methyl ethyl ketone in North America fell consistently in the third quarter of 2023. The downstream industries struggled to maintain their pace which in turn affected the methyl ethyl ketone market negatively. Further, the influx of imports from the Asian countries increased the competitiveness of the market, and due to this, the traders lowered their price quotations led to the decline in the overall market sentiments of methyl ethyl ketone.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Ethyl Ketone are expected to struggle with poor demand and sliding market dynamics.

Methyl Ethyl Ketone Price Trend for the First Half of 2023

Asia

Methyl Ethyl Ketone prices started slow in the Asian region in the first half of 2023. As the demands from downstream paint and coating industries tumbled, the feedstock butanol prices failed to provide any substantial cost support.

The revival of manufacturing activities after the easing of lockdown restrictions was still in a slump as consumer behaviour shifted to being necessity-centric. The global economic slowdown played its part as well. Overall, the market exhibited bearish sentiments throughout the said period.

Europe

The European Methyl Ethyl Ketone market could behave no differently than the Asian market, as the European market is heavily import-dependent. Secondly, the rising crude oil and feedstock costs increased the upstream costs multifold, creating a situation of demand destruction for the region.

A worsened economic situation was also responsible for such bearish market sentiments. Germany even underwent a recession; the Russia – Ukraine conflict was the major reason behind this economic meltdown. Supply chains also got curtailed, hindering the market further. Overall, bearish market sentiments were observed.

North America

The price trend for Methyl Ethyl Ketone remained fluctuating throughout the said period of the first half of 2023. Price trend were driven by the downstream demands, which remained bearish throughout. Reduced upstream costs coupled with lackluster demands determined the dull market sentiments.

Analyst insight

According to Procurement Resource, the Methyl Ethyl Ketone price trend are expected to follow similar dampened price trend as the dull demands continue to drive the market sentiments.

Procurement Resource provides latest prices of Methyl Ethyl Ketone. 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; customisation of price currencies and unit; extraction of price data as excel files to be used offline.