Methyl Methacrylate Price Trend and Forecast

Methyl Methacrylate Regional Price Overview

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

Methyl Methacrylate Price Trend for the Q3 of 2024

Asia

Manufacturing constraints and reduced facility outputs reshaped regional supply patterns for methyl methacrylic acid in the Asian domestic market. Japanese markets led regional price gains amid operational adjustments and strong domestic pulls. The impact of rising acetone costs pushed producers to implement multiple price revisions.
 

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While demand from PMMA sectors showed occasional softness, overall market fundamentals supported firmer price levels. By the end of third quarter, improved supply helped moderate some earlier gains, though the broader upward trajectory remained intact.

Europe

Limited import availability combined with domestic production hurdles kept material positions tight for MMA in the domestic European market. Market dynamics shifted as automotive sector slowdowns impacted downstream consumption patterns. Despite some demand headwinds, constricted acetone feedstock availability supported producers. Construction sector activity proved mixed, though overall market fundamentals maintained an upward bias. The quarter closed with modest gains as market participants navigated evolving demand signals.

North America

MMA price trends in the US domestic market kept treading upwards during the said quarter. Regional producers leveraged tight supply conditions to drive margin recovery. A notable reduction in import volumes amplified domestic supply pressure. Operating rate reductions further complicated material availability, leading buyers to secure additional coverage. The culmination of these factors supported substantial price appreciation across the region.

Analyst Insight

According to Procurement Resource, the prices for Methyl Methacrylic Acid (MMA) are likely to continue their upward journey in the coming months driven by steady downstream demands and constricted regional supply.
 

Methyl Methacrylate Price Trend for the Q2 of 2024

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Asia

The Asian methyl methacrylate market opted for an optimistic outlook throughout the second quarter of 2024. The market momentum was primarily driven by the rising demand from the downstream industries, both domestic and overseas industries. Despite the surging transportation charges and increasing lead times, the number of inquiries from the international players remained elevated, supporting the northward movement of methyl methacrylate price trend.

The May Day holiday season, however, slightly limited the growth of the market, but after the holidays, the recovery of the market was sharp, and with the expansion of PMMA production facilities, particularly in China, the graph of methyl methacrylate faced upwards throughout Q2'24. The Indian market also shared the same outlook, with prices climbing slightly, approximately from 1716 USD/MT to 1763 USD/MT, primarily driven by the expansion of the PMMA production base in both domestic and overseas markets.

Europe

In Q2 2024, the European market for methyl methacrylate saw a significant price increase, driven by heightened raw material costs and constrained supply. The major producers of the commodity raised their basic price quotations, contributing to this upward trend. The cost of feedstock also rose, further impacting methyl methacrylate production costs and prices. Despite the high prices, demand from the downstream automotive and construction industries remained under pressure due to macroeconomic challenges, including rising interest rates, inflation, and economic stagnation.

Methyl methacrylate manufacturing units operated at reduced rates due to weak demand and economic uncertainties, maintaining limited inventory levels to meet current needs. Additionally, logistical challenges and inflationary pressures were escalated by transport worker strikes at major German ports, causing shipping delays. Despite slow inquiries from downstream industries, methyl methacrylate prices did not decrease, reflecting the overall market tightness.

North America

The methyl methacrylate market in the US saw significant upward movement in Q2 2024. This increase was driven by supply constraints and rising demand from the downstream Polymethyl Methacrylate (PMMA) industry, particularly as the automotive sector's consumption improved. Despite a decline in feedstock acetone prices, which reduced methyl methacrylate production costs, the supply limitations and improving demand dynamics prevented any decrease in methyl methacrylate prices. However, the macroeconomic factors, such as persistent inflation and elevated borrowing costs, slightly limited consumer spending.

On the other hand, a significant expansion in PMMA production capacity by Rohm raised the domestic inflow of the commodity further contributing to keeping an uptrend in the demand for methyl methacrylate. The manufacturing firms were operating below full capacity due to global uncertainties, which, along with potential weather disruptions like the hurricane season, further limited material availability.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Methacrylate is estimated to be driven by the rising production of PMMA globally and improving market dynamics of the automotive and paints and coatings sectors.
 

Methyl Methacrylate Price Trend for the Q1 of 2024

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Asia

In China, methyl methacrylate prices have shown a steady increase after a period of stagnancy during the first quarter of 2024, supported by a strong trend in upstream prices and stable downstream PMMA demand. The feedstock market also exhibited striking stability with a slight uptick in late March, further supporting the pricing trajectory of methyl methacrylate. Additionally, upcoming maintenance in the major manufacturers of the market reduced the domestic market supply, providing positive cost support for methyl methacrylate.

The downstream demand for methyl methacrylate, particularly driven by the increasing popularity of electric vehicles, also remained on the higher end and exceeded the expectations of the traders. However, the onset of the Chinese New Year holiday season and spring festivities slowed the growth of the methyl methacrylate market, resulting in the stagnant stance of the pricing patterns. In India, however, exceeding demand and limited supply raised the price quotations from 1645 USD/MT to 1693 USD/MT (CIF). This incline in the prices was the reflection of robust growth of the downstream industries and increasing demand for the commodity from the overseas players.

Europe

Throughout the first quarter of 2024, the European methyl methacrylate market experienced price stability despite ongoing demand challenges. High energy and feedstock costs, along with constrained supplies, moved the traders to raise their pricing quotations despite economic pressures limiting demand. Additionally, the surging global crude oil prices resulting from geopolitical tensions further accelerated the momentum of the methyl methacrylate market.

The production disruptions, including a rail strike and shipping tensions and contraction of manufacturing activity in Germany amid averaging demand from automotive and construction sectors, eventually resulted in oscillations in the pricing patterns of methyl methacrylate. However, the traders were concerned over limited inventories, high production costs, and swindling profitability of the European manufacturers.

North America

During the first quarter of 2024, methyl methacrylate prices in the USA experienced slight oscillations on a month-on-month basis. The acceleration in the EV and automotive sales after a long period of downturn somehow supported the methyl methacrylate price trend in the initial half of the first quarter. However, the persistent trade disruptions and fluctuations in the cost of raw materials depreciated the market momentum throughout the first quarter.

Additionally, the gloomy outlook of overseas sales amid the disruption of the Red Sea trade route and the decline in the water levels of the Panama Canal further elevated the concerns of the manufacturing and trading sectors, resulting in cautious movements of both sectors and limiting the growth potential of methyl methacrylate prices.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Methacrylate is estimated to improve, albeit at a slower pace in the upcoming quarters, as the current dynamics of supply and demand of the market suggest only slow movements in the pricing patterns of methyl methacrylate.
 

Methyl Methacrylate Price Trend for the October - December of 2023

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Asia

In India, methyl methacrylate prices rose from around 1565 USD/MT (CIF) to 1654 USD/MT in Q4'23. This trend of prices was based on the bullish activities of the downstream industries, resulting in the rise in demand for methyl methacrylate and improving market dynamics of Asian countries.

The market was also favored by the rising cost of feedstock materials and the limited supply of raw materials from the overseas sector. The Indian, as well as Chinese construction and automotive industries, also enjoyed the rigorous initiatives taken by the government in order to boost the output of these industries, which in turn raised the industrial appetite for methyl methacrylate and thus led to a surge in its price graph.

Europe

Due to weak worldwide economies, the European methyl methacrylate market faced several difficulties in the last quarter of 2023, including a decline in domestic demand and a reduction in operating rates in downstream industries. The domestic industry's demand was muted, as evidenced by output operating below capacity. Additionally, the number of new orders from overseas players was also meek, given the rise in geopolitical tensions due to the Isarel-Hamas war.

The last month of the quarter also witnessed a rise in inflation, which further reduced the purchasing power of consumers. To maintain the equilibrium of the market, the traders began destocking activities and discounted inventories that eventually led to a downward movement of the methyl methacrylate price graph.

North America

The persistent challenges for the EV and entire automotive industries led to a decline in their rates of procurement of methyl methacrylate. The North American industries carried forward their pessimistic approach from the previous quarters in the last quarter of 2023. The loss in the feedstock prices and the substantial incline in the inflationary pressure and rates of interest charged by the banks in order to improve the financial outlook of the market proved fatal for the methyl methacrylate price trend.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Methacrylate are estimated to oscillate in the upcoming quarters as the demand is expected to showcase only minimal changes.
 

Methyl Methacrylate Price Trend for the July - September of 2023

Asia

The methyl methacrylate market experienced fluctuations in its price trend during the third quarter of 2023. The initial bloom in the methyl methacrylate price trend was due to support from the domestic demand.

The rise in the cost of feedstock prices during this time also escalated the surge in methyl methacrylate prices along with the increased consumption from the automotive and construction sectors. But soon, the rates of procurement began to fall and the rates of exports from the Asian countries also declined significantly, eventually leading to a downward trend in the methyl methacrylate prices.

Europe

The rise of imports from Asian countries increased the competitiveness of the methyl methacrylate market and thus forced domestic traders to reduce their price quotations. In addition to this, the support from the feedstock industries and the performance of the downstream sector weakened the position of the methyl methacrylate market and, in turn, its price trend. Further, the purchasing potential of the consumers was also altered by the pressure of inflation and underperformance of the overall European industrial sector.

North America

In North America, methyl methacrylate prices slid throughout the third quarter. The most significant contributor to this decline in the methyl methacrylate price trend was the fluctuating cost of feedstock materials. Additionally, due to the hike in inflationary pressure and the ongoing economic crisis, consumers adopted a wait-and-see approach. The muted demand, sufficient availability of stockpiles, and poor consumer sentiments contributed synergistically to keeping the methyl methacrylate price graph in the red zone.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Methacrylate are estimated to follow a declining trajectory as its demand and overall global market sentiments are sliding.
 

Methyl Methacrylate Price Trend For the First Half of 2023

Asia

In the Asia-Pacific region, the price trend of methyl methacrylate inclined in the initial months of the first quarter as the market activities resumed after the holiday season, and increased interest of buyers also supported the rising prices of methyl methacrylate. However, the end phase of the quarter was not as favorable as the initial.

The production rates of methyl methacrylate in China inclined, but the demand from end-user industries did not support the rise in prices, and with a steady supply of imports, the price trend of methyl methacrylate declined at the end of the first quarter.

In the second quarter, the market dynamics again changed direction as the methyl methacrylate prices rose with the inclination in the number of inquiries from both domestic and international buyers. This high demand for methyl methacrylate was catered with a consistent supply of the product, which caused a problem towards the end-phase when downstream activities slid and led to the rise in inventories, hampering the growth of methyl methacrylate price trend.

Europe

The first quarter of 2023 witnessed a positive inclination in the price trend of methyl methacrylate as the European markets were supported by the rise in consumption rates, high cost of production, and spike in demand from the downstream industries. However, the second quarter did not follow this movement of the price trend due to rising rates of inflation and interest.

These drastic market conditions caused cautious buying of consumers, reducing consumption rates. Along with this, the influx of cheap imports from overseas industries and the shutting down of several production units resulted in the decline in the price trend of methyl methacrylate.

North America

In North America, the prices of methyl methacrylate consistently increased with the help of stable demand and support from the downstream industries. In addition to this, the rising cost of production, high prices of energy, and cuts in supply chains due to the shutting down of some manufacturing units helped the price trend of methyl methacrylate to rise.

In the final phase of the first quarter, the demand from the downstream industries and the rise in the level of inventories hampered the growth of methyl methacrylate prices. The initial months of the second quarter were favorable for the prices of methyl methacrylate, but as the quarter followed, the rates of procurement from downstream industries and supplies of methyl methacrylate flooded the region, and thus, the price trend of methyl methacrylate faced southwards.

Analyst Insight

According to Procurement Resource, the price trend of Methyl Methacrylate is estimated to showcase an oscillating trajectory as the demand from downstream industries does not seem suitable for the methyl methacrylate market.

Procurement Resource provides latest prices of Methyl Methacrylate. 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.