Methyl Methacrylate Price Trend and Forecast

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 October - December of 2023

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.

Methyl Methacrylate Price Chart

Please Login or Subscribe to Access the Methyl Methacrylate Price Chart Data
 

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.