For the Quarter Ending March 2024
North America
In Q1 2024, the pricing environment for Meth Acrylic Acid in North America was negative, with prices experiencing a decline. Several factors influenced market prices during this quarter. Firstly, there was sluggish demand from downstream industries, particularly in the paints and coatings sector, which led to a decrease in prices. The off-season lull and broader economic slowdown in regional markets also contributed to the weak demand. Additionally, demand from China remained subdued due to maintenance closures during the Spring Festival Holidays and a sluggish construction sector.
The USA saw significant price changes for Meth Acrylic Acid. Prices declined in February due to low season demand and reduced production at manufacturing facilities in Pennsylvania and Virginia. The market sentiment was bearish, with moderate to high supply and low to moderate demand. The construction industry, a major consumer of Meth Acrylic Acid, experienced an off-season lull, further dampening demand. Despite the initial decline in prices, there was an incline towards the end of the quarter, driven by expectations of improved market activities and increased demand.
Looking at the price trends, there was a notable decline in prices from the previous quarter. The first half of Q1 2024 saw limited market activities and low consumption rates. However, there is some optimism for the second half of the quarter, with expectations of improved market activities and increased demand.
Overall, the pricing environment for Meth Acrylic Acid in North America during Q1 2024 was negative, driven by weak demand, surplus inventories, and low feedstock costs. The market conditions were bearish, with moderate to high supply and low to moderate demand. The latest quarter-ending price for Meth Acrylic Acid in the USA was USD 2197/MT DEL Louisiana.
Europe
In Q1 2024, the Meth Acrylic Acid market in Europe experienced a bearish pricing environment. Prices for Meth Acrylic Acid decreased in the German domestic market after a period of stability, with a weekly change of USD -26/MT (-1.3%). This decline can be attributed to steady production activities and a stable flow of imports, which have resulted in a moderate supply of Meth Acrylic Acid. Additionally, the persistently low demand from the downstream construction sector has led manufacturers to maintain lower prices to stimulate transactions.
The availability of Meth Acrylic Acid was reported to be relatively steady to meet the demand from the downstream paints and coatings industries. However, the overall demand for Meth Acrylic Acid remains low to moderate, with most market transactions being based on a need-on-demand basis. The market players are cautious about a major turnaround in demand from the construction sector, as buying sentiment remains bearish.
However, Meth Acrylic Acid market in Germany saw slight improvement in market transactions in late Q1, as procurement ahead of peak Q2 and Q3 is likely to increase demand and subsequently impact prices. The market is also expected to benefit from an improvement in demand sentiment from the international market, as well as increased demand from regional markets.
Overall, the pricing environment for Meth Acrylic Acid in Europe, and specifically in Germany, has been negative in Q1 2024, with prices decreasing on a weekly basis. The market is characterized by moderate supply and low to moderate demand, with manufacturers keeping prices lower to stimulate transactions. The latest quarter-ending price for Meth Acrylic Acid in Germany was USD 2049/MT FOB Hamburg.
APAC
Meth Acrylic Acid prices in the APAC region for Q1 2024 have experienced a mixed trend. Overall, market sentiment has been stable, with moderate to low demand from downstream industries. The supply of Meth Acrylic Acid has been moderate, with manufacturing firms operating at reduced rates. However, there have been some supply-side pressures due to shipping disruptions in the Red Sea and restricted traffic in the Panama Canal.
In Japan, Meth Acrylic Acid prices have seen a slight decline during Q1 2024. The demand from the downstream industries has remained moderate, with limited market transactions. The construction industry has shown signs of weakness, leading to lower consumption rates. The availability of Meth Acrylic Acid in the domestic market has been steady, resulting in stable inventories.
In terms of price changes, there has been a decrease in Meth Acrylic Acid prices compared to the same quarter last year. The prices have also declined compared to the previous quarter in 2024. However, there was a slight increase in prices towards the end of the quarter as
An uptick in demand, particularly in China, where manufacturing activities surged, was observed, but rising Acetone and crude oil prices increased manufacturing costs, positively impacting Meth Acrylic Acid prices.
The latest quarter-ending price for Meth Acrylic Acid in Japan is USD 1887/MT FOB Tokyo. Overall, the pricing environment for Meth Acrylic Acid in Japan has been bearish, with weak demand and ample supply. The market is expected to remain stable in the coming months, with limited improvements in demand from the downstream industries.
For the Quarter Ending December 2023
North America
The Meth Acrylic Acid (MAA) market in North America during the fourth quarter of 2023 has been influenced by several key factors. Firstly, the presence of sufficient inventory in the domestic market has led to a decrease in prices. Producers have been stocking up their storage before undergoing maintenance, contributing to the supply chain. Additionally, the lower energy prices in September have supported the production cost, preventing it from exceeding the upper limit. The naturally occurring El Nino climate pattern has also contributed to Panama's drought, creating concerns about reduced shipments through this waterway.
Looking specifically at the United States, the country has experienced a moderate to low demand for MAA. However, the joint development of PMMA compounds for automotive body components by Mitsubishi Chemical and Honda Motor indicates a growing demand for acrylic resin material and, consequently, MAA in the downstream automotive industry.
In terms of pricing trends, the latest price of Meth Acrylic Acid in the USA for the fourth quarter of 2023 is USD 2284/MT, DEL Louisiana.
APAC
The Meth Acrylic Acid (MAA) market in the APAC region experienced a bullish trend in the fourth quarter of 2023 (Oct to Dec). The market was influenced by several factors throughout the quarter. Firstly, the demand for MAA in the automotive industry remained moderate, driven by increasing consumer preference for advanced and lightweight passenger cars. This resulted in the development of PMMA compounds for automotive body components, indicating a growing demand for MAA in downstream applications. Secondly, supply was moderately affected by plant shutdowns in the upstream propylene industry, which dented the supply chain. However, trade relations with India improved, contributing to a steady supply of MAA in the region. In Japan, the prices of MAA witnessed a slight improvement in the fourth quarter. The country experienced an increase in vehicle sales, which drove demand for MAA in the automotive sector. Mitsubishi Chemical and Honda Motor collaborated to develop PMMA compounds for automotive body parts, further boosting the demand for MAA. Additionally, plant shutdowns in the upstream propylene industry, such as ENEOS Corp's FCC unit in Sendai, impacted the supply of MAA in Japan. The price of MAA in Japan for the fourth quarter of 2023 is USD 1884/MT FOB Tokyo. This reflects a 7% increase from the previous quarter and a significant decrease of 34% compared to the same quarter of the previous year. Overall, the APAC MAA market in the fourth quarter of 2023 was influenced by demand from the automotive industry, plant shutdowns, and improved trade relations. The market in Japan experienced price fluctuations due to increased demand and supply disruptions from plant shutdowns. The current price of MAA in Japan is USD 1884/MT FOB Tokyo.
Europe
The fourth quarter of 2023 for Meth Acrylic Acid (MAA) in Europe witnessed a bearish market with moderate supply and low demand. The market was affected by several factors. Firstly, the Eurozone faced a broad-based economic downturn, with the fastest pace of decrease in nearly three years. This was due to increased borrowing costs, higher goods prices, and cautious consumer spending among indebted households. Secondly, the sluggish economy in Germany, the largest economy in Europe, contributed to the overall decrease in demand for MAA. Lastly, the ongoing OPEC crude oil production cut and uncertainty surrounding the Israel-Hamas war put pressure on the energy and manufacturing industries. In terms of plant shutdowns, there were no reported issues during this quarter. Germany experienced a significant drop in MAA prices, with a decrease of 11.9%. This can be attributed to the sluggish economy, reduced demand, and the overall bearish market sentiment. The price of Meth Acrylic Acid in Germany at the end of the quarter was USD 2034/MT, FOB Hamburg. Overall, the market for MAA in Europe during the fourth quarter of 2023 was influenced by economic downturns, energy concerns, and geopolitical uncertainties. The decrease in prices reflected the challenging market conditions and the impact on demand.
MEA
The Meth Acrylic Acid (MAA) market in the Middle East and Africa region during the fourth quarter of 2023 (Oct to Dec) experienced various factors that influenced prices. Firstly, the market saw a bullish trend due to increased energy prices, which supported the production costs of upstream materials. Additionally, the announcement of further production cuts by major producers like Saudi Arabia and Russia raised concerns about future shortages. Focusing on Saudi Arabia, the country experienced a price hike of 2.7% in September, driven by increased energy prices and potential shortages caused by production cuts. Saudi Arabia experienced a price hike and a decrease compared to the previous year, with slight fluctuations within the quarter. The current price of Meth Acrylic Acid in Saudi Arabia is USD 2012/MT, FOB Jizan.
For the Quarter Ending September 2023
North Americ
Meth Acrylic Acid (MAA) prices in the North American market have registered a drop in the quarter starting July due to steady supply throughout the US market and moderate demand from the downstream paints and coating industry. In August, MAA prices have continued the bearish tail. Despite a hike in the upstream petrochemicals market, ample domestic supply has been weighed on MAA prices. Moreover, the US dollar has been running stronger than other currencies, which has affected the demand side negatively in the overseas market. September month prices have shown improvement in MAA prices. Though upstream material cost have been on lower side, still overseas automotive sector demand have driven the prices up. Moreover, markets have been watching on upcoming Federal Reserve meeting amidst oil market volatility. Mixed demand sentiments have been observed from Asian continents. India’s automotive sales has been increased in September, resulting increase demand of MAA in auto parts manufacturing. Thus, MAA prices as of Sept. 29 has been closed at USD 2802 per metric tonnes, FOB USGC.
APAC
Quarter three front month Meth Acrylic Acid (MAA) prices have shown a decrement in all over the Asian market. This is due to the drop in domestic demand from the downstream industries despite an increase in raw material Acetone prices. As per data, overseas purchases of MMA have decreased by 30% in the month of July. The demand of MMA and PMMA from the international market like USA have been decreased, indicated by a lower number of enquiries. In August, exports from major supplying countries such as Japan and South Korea has been steady month to cater the domestic demand. This month except China, the rest of Asian continents have shown improvements in MAA prices. China’s total cargo throughput have increased by 8% y-o-y in 2023 compared to previous year while exports decreased by 6% y-o-y. Extreme weather and natural disaster like typhoon have affected the logistics flow in China and increased the port congestion. However, domestic stocks have been reported enough to cater the regional demand. A growing crisis in Chinese banking sector have been also threatening the economy. Downstream paints and coating industry growth have been also steady. While in Indian market increasing upstream prices and growing downstream plastic engineering market and automotive market have supported a price hike of MAA. Japan Merchandize exports have been resilient indicating a strong demand in electronics and machineries manufacturing sectors. In September, China’s MAA market have bounced back with a significant hike. Lower petrochemical capacity have supported a hike in upstream production costs amid upcoming National Holiday season. With increasing consumer spending downstream poly packaging market in India have also seen growth amid upcoming festive sales. Meanwhile Vietnam’s exports to India has been increased in September by around 4%. Thus, MAA price as of Sept. 29 has been closed at USD 1988 per metric tonnes, CFR Shanghai.
Europe
Meth Acrylic Acid (MAA) prices at the start of third quarter have demonstrated a significant drop in Eurozone. This has been due to decreased upstream Acetone and Sulphuric acid prices which again have supported the steady supply of feedstock in the domestic market. However, the disparity between contract and spot prices has been a major concern in that month for chemicals manufacturer in Europe. Demand from downstream electronics industries have followed a slight downtrend this month. A declined production activity has been reported, indicated slower growth of demand. Again a significant drop has been noticed in August month in MAA prices due to sluggish economy. Exports of Germany to other Eurozone has registered a decline of about 12% from previous month. On the other hand, EU imports from one of the major supplier Japan have been resilient in August. September prices have witnessed a sharp drop. Data have witnessed a significant decrease in demand of overall Eurozone which have marked the fastest pace of decrease in nearly three years. Increased borrowing cost, higher goods prices and cautious consumer spending among indebted households have been contributing to the economic downturn. Thus, MAA prices as of Sept. 29 has been closed at USD 2178 per metric tonnes, FOB Hamburg.
Middle East
Meth Acrylic Acid (MAA) prices at the start of third quarter has demonstrated a significant drop in the market of Saudi Arabia. This is due to steady supply throughout Middle East market and moderate demand from downstream paints, adhesive and construction industries for sustainable packaging industry. Moreover, the slight drop in prices of feedstock sulphuric acid due to decline demand from fertilizer industry support the price drop of MAA. Abundant inventory both in the domestic market and ports, due to firm production activities have maintained the stability of the supply chain. Prices in the market of Saudi Arabia has witnessed a decline again in August due to subdued demand from the downstream MMA industry such as paints and solvents sectors. Ample domestic inventory to cater subdued poor demand from downstream MMA and PMMA (Poly Meth Methacrylate) industry has been weighed on the MAA prices. However, in September prices of MAA have shown little improvement Since increased energy prices have supported the production cost of upstream materials, meanwhile further production cut announcement from Saudi and Russia have raised the future shortages concerns. Thus as of Sept. 29 MAA prices has been closed at 2024 per metric tonnes, FOB Jizan.
For the Quarter Ending June 2023
North America
The overall market situation was observed to be strictly increasing throughout the entire Q2 in the American markets, in the presence of a 31% increase in the downstream construction industry observed in the past month. Further, the consumption of Meth Acrylic Acid increased in the market in the sight of improving product purchasing activities from downstream paints and coatings as well as the adhesives sectors. The supply was observed to be on the moderate side. However, in mid-May, the demand for MAA diminished in the US market due to rising inventories of finished products and a decline in consumption rates. Moving on towards May 2023 of Q2, the prices of meth acrylic acid started improving on the back of stable cost support and a sharp increase in demand from the international market. Market participants have reported frequent queries from Asian and European buyers. Upstream Propylene prices have been steady, resulting in steady cost support, while inventory remained under pressure due to promising demand incoming from the international market. Meanwhile, the demand from the downstream Polymethyl Methacrylate industry and queries from the international market had witnessed optimism towards the last weeks of June 2023.
APAC
The overall market situation was observed to be strictly increasing throughout the entire Q2. The Chinese region experienced an increase in the market value of MAA, primarily due to a rise in the production cost of the product. Further, the price hike was justified due to the increase in the trust of investors in the Chinese Construction Industry in the industry's long-term growth rates. According to market participants, the supply of MAA in the Chinese market remained moderate, and inventory levels were reported to be stable among regional traders. The consumption of Meth Acrylic Acid soared in the market with the increase in product purchasing activities from downstream paints, coatings, and adhesives sectors. Further, the increase in MAA prices can be linked to an increase in packaging prices of High-Density Polyethylene (HDPE) and Mild Steel (MS) containers for Meth Acrylic Acid, increasing the overall cost pressure for the Meth acrylic acid. Further, the increase in the cost of the upstream stabilizer Hydroquinone Monomethyl Ether (MeHQ) which is used for polymerizing Meth Acrylic Acid, subsequently put the regional market pricing sentiments on the uptrend.
Europe
The prices of Meth Acrylic Acid in the European market observed a persistent increase in the first half of Q2 from April to May, which later decreased in the last weeks of June. In the first half, it increased the presence of elevated consumption of Meth Acrylic Acid in the market along with the increase in product purchase activities from downstream paints, coatings, and adhesives sectors. Additionally, an increase in the feedstock Meth Acrylamide Sulphate prices and an increase in operating rates had also been a supporting factor behind the surging price trend of methacrylic acid in the European market. In fact, some strikes of German rail unions tumbled the smooth flow of goods and materials in the market, the inventory levels were low, but it had limited bearing over the positive demand incoming. In the second half of Q2, from mid-May to June, the prices surged in May again on the back of stable cost support as upstream Propylene prices were steady and sharp demand from the international market was observed. Differing from, in late June, the prices again took on the downtrend in direct relation to the decreasing enthusiasm of consumers from downstream paints and coatings industries and the decrease in the procurement of Meth Acrylic Acid in the German markets.
For the Quarter Ending March 2023
North America
The market value of Methacrylic Acid escalated in the North American market, with prices ranging at USD 2723/ton FOB USGC in February. The procurement of MAA for the manufacturing of adhesives and sealants increased in the USA region with lowering inventories of products with the traders. The demand for MAA has been strong in the construction and automotive industries, which are the key end-use market for the product, and has driven up the market value of the product. The sales generated by the MAA manufacturing companies were high, and subsequently, their profits increased, too, as per sourced by the traders and the merchants.
Asia
The costs of Methacrylic Acid escalated in the Asian market, with prices at USD 1937/ton CFR Shanghai in China during January. The costs of feedstock Acetone Cyanohydrin, Sulphuric Acid, and other inputs, like operating rates involved in the production, remained high, and suppliers were able to maintain their prices without the need to adjust. The procurement of MAA seemed to be high for the manufacturing of leather and adhesives, which declined the stocks of feedstock Acetone Cyanohydrin and Sulphuric Acid as well as inventories of the product. The procurement of MAA seemed to be high for the manufacturing of leather and adhesives, which declined the stocks of feedstock Acetone Cyanohydrin and Sulphuric Acid as well as inventories of the product.
Europe
The costs of Meth Acrylic Acid (MAA) elevated in the European market with prices at USD 2687/ton FOB Hamburg during the first quarter in 2023 in March. The purchase of MAA elevated the manufacturing of adhesives and sealants from the construction industry, which is up by 4.5% in the past week, and an increase in earnings is expected in the regional market. The consumption of Meth Acrylic Acid decreased in the German market with the declining purchase of products from downstream paints and coatings as well as the adhesives sector. There was a high stockpile of the product in the region as sourced by the traders and suppliers.
For the Quarter Ending December 2022
North America
During Q4 of 2022, the manufacturing cost in the USA market decreased, although the prices of MAA increased due to lower consumption from the downstream paints and coatings sector. The consumption of leather, adhesives, and paints industry was observed to decrease in the regional market due to off-season dullness. The demand for the Meth Acrylic Acid industry fell in the USA market during the period. Due to the abundance of shipments that were seen in the market during the quarter, the supply chain condition in the region was moderate, resulting in good product availability. US manufacturing orders to China were down because of weakening demand in the regional market.
Asia
US manufacturing orders in China are down because of unrelenting demand collapse in the regional market. The prices of Meth Acrylic Acid plummeted in the Asian market during Q4 of 2022, with a market value of USD 1948/ton Meth Acrylic Acid CFR Shanghai in December with a quarterly de-escalation of 2.3% as recorded by ChemAnalyst research team data. The supply of MAA in the Chinese market was largely high, with the availability of shipments with declining freight charges in the regional market. The inventories of Meth Acrylic Acid strengthened with lower consumption from the downstream paints and coatings market. Prices decreased due to fluctuating feedstocks (Acetone Cyanohydrin) and minimal use. The supply chain from China tends to be moving out along with the lockdown in the Chinese market due to Covid.
Europe
The prices of Meth Acrylic Acid plunged in the European market during the fourth quarter of 2022, with a market value of USD 2110/ton Meth Acrylic Acid FOB Hamburg in November, as per ChemAnalyst research team data. The consumption of Meth Acrylic Acid decreased in the German market with the declining purchase of products from downstream paints and coatings as well as the adhesives sector. There was a high stockpile of the product in the region as sourced by the traders and suppliers. The demand from the downstream paints and coatings industry de-escalated in the German market during the period. Large vessels were in the market, improving the trade and the supply in the region owing to improved logistics amid sluggish demand fundamentals.
For the Quarter Ending September 2022
North America
During the third quarter of 2022, the prices of Meth Acrylic Acid were observed to be falling in the North American market, with prices ranging at USD 2520/tonne FOB USGC. The supply chain situation was good in the region, with higher product availability due to the abundance of shipments observed in the market during the period. As demand from the downstream market decreased, traders and suppliers witnessed an increase in their inventory. Prices decreased mainly due to fluctuating feedstocks (Acetone Cyanohydrin) and minimal use.
Asia
Meth Acrylic Acid prices have been facing a consistent decline since the start of the third quarter of 2022, owing to demand dullness from the domestic market and stockpiled inventories in the country. As per the sources, availability for the product remained high in the Chinese market during this quarter, while pandemic-related uncertainties did not let the demand rebound enough to support prices. The prices were hovering at USD 1978/ton Ex-Mumbai in September, as per recorded by ChemAnalyst pricing team data. Imports have also fallen in the last few months vindicating the demand decline.
Europe
The price of Meth Acrylic Acid was observed to fall in the European region during the third quarter of 2022, with prices ranging around USD 2480/tonne FOB Hamburg in August. German manufacturing firms anticipate that the supply-chain problems that have hampered output in Europe's largest economy will continue for at least ten more months. The demand from the downstream polymers industry fell with a fall in consumption in the region and weakening market sentiments. The supply chain situation was poor in the region, with lower product availability as shortages of shipments were observed in the market during the period with a fall in freight charges. The demand from the downstream paints and coatings industry elevated in the European market.
For the Quarter Ending June 2022
North America
North American Meth Acrylic Acid market stagnated throughout the quarter, while prices rose effectively and were primarily driven by the regional market's inflation. As per the data, the Acrylic Acid derivative market has been fluctuating since the start of the quarter, as the demand fundamentals remained stagnated or partially dull, but the inflationary pressure kept on affecting pricing dynamics. Furthermore, prices rose consistently for the initial two months and later declined by the end of the quarter. The prime factor behind this fall was a steep fall in demand from the international market, under the threat of rising stagflation conditions in the country.
Asia
During Q2 2022, the Asian market witnessed a mixed market sentiment for Meth Acrylic Acid, where the prices rose during the first half of the quarter and declined effectively in the other half. Furthermore, demand dynamics for the product remained dull throughout this timeframe, while raw material costs plunged effectively across Asia, especially in China during June 2022. Thus, as a consecutive effect, the price remained dull for downstream derivate Meth Acrylic Acid in the Asian market. In addition, the threat of global recession has also affected the market sentiments for the product in the regional market of Asia.
Europe
As per the market insights, the price of Meth Acrylic Acid remained buoyant during the first two months of Q2 2022, owing to high input costs amidst stagnated offtakes from the downstream niche buyers. The data shows the price of Meth Acrylic Acid tumbled in June 2022, after prolonged firmness since the start of this year. Market participants were concerned about the rising wavering demand dynamics from the regional market, as the threat of global recession was hovering around the head of major players in the market. However, high energy costs remained a concern, affecting the overall production costs of all the commodities.
For the Quarter Ending March 2022
North America
Taking pressure from upstream acrylic acid consistent increment in price of Meth Acrylic Acid has been observed during the first quarter in North America region. Due to constant escalation in upstream value, major companies have been heard facing escalating inflationary pressure. The sudden escalation of the Ukraine-Russia crisis in the last week of February drove up global crude oil prices, resulting in a sharp jump in raw material prices across the board. Meanwhile, during Q1 2022, the overall upswing in upstream Acrylic Acid prices in the United States was backed by global economic recovery and seasonal demand. Despite all these scenarios, Meth Acrylic Acid prices maintained overall stability throughout the quarter and was assessed around USD 2600/Mt during February 2022.
Asia Pacific
Meth Acrylic Acid market showcased overall stability throughout the quarter on the back of ample availability amidst modest offtakes from the downstream sectors. Despite huge climb in prices of upstream crude, Meth Acrylic Acid demonstrated marginal increment during the first quarter. Furthermore, different Asian market showcased different market sentiments in the meantime, as China was battling with sudden surge in pandemic cases in the country, that compelled government to impose strict lockdown restrictions in the country. Meanwhile, Indian economy remained optimistic throughout the quarter, where product prices reached USD 2987/MT during February. However, Russia-Ukraine conflict has shaken the global market dynamics, affecting demand fundamentals for several acrylates and its derivatives in Asian market.
Europe
Russia-Ukraine conflict has impacted the overall market dynamics of Europe during the first quarter of 2022. The European market has been battling yet another regional disruption, namely, rising natural gas costs in the region. Being so reliant on Russia for natural gas, the escalating conflict between Russia and Ukraine, as well as the imposition of waves of sanctions on the country, has led in a sharp increase in natural gas prices in key European countries such as Germany. Due to increased raw material prices backed by skyrocketing natural gas prices, major acrylate manufacturers such as Röhm GmbH have announced price revisions of their acrylates. In the meantime, the administration has promised to lessen its reliance on Russian natural gas in the coming years. Conclusively, Meth Acrylic Acid price was assessed around USD 2430/MT during February in Germany.
For the Quarter Ending December 2021
North America
MAA kept on fluctuating throughout the quarter across USA as the demand supply fundamentals performed differently for different month. Despite sluggish offtakes from the downstream derivative segment, price remained buoyant during October on the back of rising input cost, which later declined during November after witnessing stringent demand dullness. However, for the month of December, taking pressure from resurgence in input cost, which induced overall inflationary pressure across North American market, MAA price also rose effectively. However, marginalising profitability remained a major concern for North American convertors. MAA price heard hovering around USD 2340/MT FOB during October.
Asia
Pandemic related uncertainties induced after sudden surge in Omicron variant in Asian market affected the overall market dynamics of the region. However, different nations worked differently throughout the quarter. In India, demand for the product showcased significant bounce back during November on the back of festivities in the country, which later declined by the end of December in the country. While China and Japan performed differently, dual energy policy in China compelled manufacturers to practice production cuts in the country, that reduced the demand from the downstream sector which later balanced out with low availability of product. Thus, marginal fluctuation in price of MAA was observed in China, which assessed around USD 2520/MT during November in China.
Europe
Consistent hike raw material cost on the back of exorbitant surge in natural gas prices shook the market dynamics of Europe during this quarter. several downstream consumers had to transfer the price burden on consumers in order to sustain their profit margin. a major European downstream user, Röhm announced price revision on its derivative product MMA (Methyl Methacrylic Acid) due to consistent surge in raw material cost amid stable to firm offtakes from the domestic end use segment. In addition, Röhm has also announced maintenance turnaround during final week of March 2022 (23rd March to 31st March), which will reduce offtakes for MMA in the meantime.
