Methyl Ethyl Ketone Price Trend and Forecast

Methyl Ethyl Ketone 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 Q3 of 2024

Asia

The MEK market in Asia reflected the broader challenges in the butanol market. With butanol prices experiencing fluctuating movements and weak demand, the MEK sector faced similar pressures.
 

Methyl Ethyl Ketone Price Chart

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The market was characterized by cautious downstream purchasing and abundant supply. Mid-quarter saw a slight recovery following festival periods, but overall demand remained tepid. The interconnection between butanol and MEK markets created a complex pricing environment, with production constraints and reduced industrial activity dampening market sentiment.

Europe

The European MEK pricing was deeply influenced by oscillations in the feedstock butanol market dynamics. Butanol production faced significant challenges, including reduced propylene availability and maintenance turnarounds of olefin crackers. These supply constraints paradoxically created upward pricing pressure for related chemicals like MEK. The construction sector's downturn in key markets like Germany, France, and Italy further complicated the demand landscape. Despite initial price increases driven by supply tightness, the market experienced moderate price fluctuations toward the quarter's end.

North America

The North American MEK market showed resilience partially attributable to strategic management of butanol production. Despite challenges like Hurricane Beryl and limited propylene feedstock, producers managed to stabilize pricing. The market was characterized by proactive measures from major chemical producers, including strategic pricing announcements. However, subdued demand from key downstream sectors, particularly paints and coatings, and a weakening housing market tempered overall market enthusiasm.

Analyst Insight

According to Procurement Resource, the price trend for Methyl Ethyl Ketone is likely to show continued volatility. A narrow price range, with excessive supply potentially being balanced by moderately positive demand is anticipated in the coming months.
 

Methyl Ethyl Ketone Price Trend for the Q2 of 2024

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Asia

In Q2 2024, methyl ethyl ketone prices in China experienced a significant uptrend driven by several key factors. Increased downstream demand, particularly from the paint and coating sectors in the construction and automotive industries, supported prices amid a backdrop of rising crude oil prices and supply chain disruptions within China. The country's economic expansion, supported by growth in exports and manufacturing activities, further stimulated demand for petrochemicals like methyl ethyl ketone. Concurrently, ongoing geopolitical tensions in the Middle East and positive demand signals from the US contributed to the upward trajectory of crude oil prices, influencing methyl ethyl ketone price trends.

Despite stable feedstock butanol prices in exporting nations, methyl ethyl ketone prices were positively influenced by increasing inquiries from downstream sectors and disruptions in southern China's supply chain due to severe weather conditions and production facility closures. Similarly, in India, the price of methyl ethyl ketone climbed from an average of 1341 USD/MT to 1609 USD/MT during the second quarter, majorly on the back of positive overseas demand and rising industrial activities.

Europe

Similar to the Asian countries, the pricing trajectory of methyl ethyl ketone in the European countries was primarily supported by a surge in downstream activities and limited production volumes. However, initially, the subdued market momentum was the result of limited domestic and overseas inquiries and weak cost support from the crude oil sector.

As the quarter progressed, the announcement of OPEC+ to reduce their crude oil output led to a surge in its prices and was then evenly translated to the price trend of methyl ethyl ketone. The geopolitical tensions further severed the supply chains of the European countries and reduced the profit margins of the traders amid escalating costs of transportation, hampering the growth potential of the methyl ethyl ketone market in the second quarter of 2024.

North America

The North American market of methyl ethyl ketone remained under the pressure of surging inventories and moderate to low demand for the commodity. Likewise, to the Asian and European countries, the major setback for the market came from the declining prices of crude oil in the initial phase of the quarter. However, from the middle phase of the quarter, the automotive and paint and coatings sectors increased the number of offtakes. This rise in procurement rates was, however, limited to the domestic market as the rise in global container prices and freight charges forced the overseas players to opt for a cautious stance, resulting in oscillations in the pricing patterns of methyl ethyl ketone throughout Q2'24.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Ethyl Ketone is estimated to be subdued under the influence of excessive production as global operations are expected to work most efficiently in the next quarters as well while the procurement rates are not likely to grow parallel with it.
 

Methyl Ethyl Ketone Price Trend for the Q1 of 2024

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Asia

Methyl Ethyl Ketone prices were observed to be inclining during the said period of the first quarter of 2024. The regional price trajectory was highly supportive and played in favour of the domestic suppliers. Various factors played their role in the positive growth of the methyl ethyl ketone price trend in the Asian market. The biggest anchor was the escalation that the feedstock butadiene and the whole petrochemical industry witnessed during this time. As the OPEC+ announced a reduction in output volumes, the crude oil prices started soaring in the global markets.

This directly impacted the whole petrochemical industry. Because of this, the monthly average prices of methyl ethyl ketone in the Indian market went from about 1167 USD/MT (CIF) in January’24 to around 1215 USD/MT (CIF) in March’24. This surged the prices by an approximate 4% in the Indian market. Similarly, the Chinese methyl ethyl ketone market also witnessed similar kind of upward wavering patterns during the given span of time.

Europe

In Europe, the downstream sectors have been humble for methyl ethyl ketone for some time now. The construction and adhesive industries saw some downfall in end consumer demand as the industrial activities were a little muted in the last quarter because of the long holiday season. So, the price trajectory was a little modest at the beginning. However, the scenario shifted completely in the second half as the price graph started inclining then onwards.

Ukraine launched a missile attack at Russian refineries deep inside the country. This dwindled the country’s oil output by approximately 7%, which affected the region’s energy security since Iraq also declared a cutdown on output during this time. So, with a rise in upstream manufacturing costs the methyl ethyl ketone prices inclined in the latter half despite regular demands.

North America

The American methyl ethyl ketone market mirrored the trends of the European market during the given span. Raw materials became costlier for American manufacturers as well. The shipping hindrances in the Red Sea pushed the freight charges high as the threat kept rising for the merchant ships. So, after some early tumbles, the methyl ethyl ketone prices acquired a rising trajectory in the North American markets as well. The escalation of the Israel and Hamas conflict in the Middle Eastern region also complicated the global trade situation. Conclusively an anchored price trajectory was seen.

Analyst Insight

According to Procurement Resource, the Methyl Ethyl Ketone price trends are likely to remain on the rising foot in the coming months as well. The macroeconomic factors suggest a continuation of the current price incline.
 

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.

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.