Methyl Methacrylate (MMA) prices in Belgium saw a significant decline of around 5.2% in October 2024, reflecting a combination of weak demand, oversupply, and seasonal factors. The downward trend in MMA prices was most pronounced during the third week of the month, when prices dropped by 3.7%, and the overall market showed little improvement in the weeks that followed.

One of the key drivers behind the price decline was the persistent weak demand across multiple sectors, particularly the construction and automotive industries. These sectors, which are traditionally significant consumers of MMA, remained sluggish throughout October. In the construction sector, the downturn was exacerbated by reduced consumer spending and a generally bearish outlook for the industry. Meanwhile, the automotive sector, while stable earlier in the month, also showed signs of weakening demand as seasonal variables hit, including reduced fuel consumption. This dip in industrial activity, coupled with the overall slowdown in consumer spending, contributed to a general decrease in the demand for MMA.

The situation was further aggravated by oversupply in the MMA market. Despite weak consumption, production levels remained steady, and global inventory levels for MMA continued to rise. This was particularly evident in European markets, where inflationary pressures had eased, but the Belgian market remained depressed. The producers were able to maintain production volumes, helped by a slight decline in the cost of raw materials like acetone. However, the overhang of inventory continued to weigh on the market, preventing any meaningful upward movement in prices.

Adding to the pressure was the seasonal lull in demand, as festive procurement had already ended, and the market was transitioning into the winter months. This seasonality traditionally leads to reduced industrial activity, further dampening the outlook for MMA prices. At the same time, downstream consumers polymethyl methacrylate (PMMA) were focused on stabilizing their own prices, with little room for price increases due to the bearish behaviour from the consumer side. Global PMMA prices remained largely unchanged throughout the month, signalling the lack of buying momentum and market uncertainty.

In conclusion, the 5.22% decline in MMA prices in Belgium during October was driven by a combination of weak demand across key sectors, oversupply, declining production costs, and the seasonal reduction in industrial activity. As the market faces a continuation of these factors in the coming months, MMA prices are expected to remain under pressure, with little sign of immediate recovery unless there is a significant shift in demand conditions.