Downstream Demand Remains Weak for the Asian Acrylamide Market
- 23-Aug-2022 5:12 PM
- Journalist: Jai Sen
In August, weak market sentiments caused downward pressure on Acrylamide prices in the APAC region. The Indian chemical sectors witnessed slow market activities due to low global demand and crippled production activities. Moreover, squeezed downstream offers from the water treatment and textile segment amid a reduction in water effluent plant production affected the prices of Acrylamide in the APAC region.
In India, Acrylamide prices have been declining as primary Acrylamide producers faced difficulty due to the implementation of a ban on manufacturing, sales, and use of plastic by the Government in the first week of July. The ban on plastic packaging and wrapping influenced the Acrylamide market in India. Enterprises occupied maintaining steady offtakes to improve their profit margins in the domestic market. Thus, the price of Acrylamide showed a month-on-month decline of nearly 3% in the Indian market, coupled with wait and see attitude amongst the buyers in the region.
Chinese Acrylamide price was stable during August, backed by the steady downstream demand from the water treatment and textile segment. According to the trader, Acrylamide prices felt inventory pressure, which made them stabilize the price trend of Acrylamide in China. As per the latest insights, COVID 19 lockdown curbs disrupted production activities and decreased overseas offtakes.
As per the ChemAnalyst anticipation, "Acrylamide price is predicted to show a decline in India as the downstream demand from the water treatment segment expected to remain steady in September 2022 coupled with sufficient availability of inventories to cater to the market. Chinese Acrylamide prices are estimated to surge with the rise in demand and relaxation of the lockdown restriction in September in China. Moreover, overseas offers may show an increment in Chinese Acrylamide prices.