Global Ethyl Acrylate Market Wobbles with Collapsing Demand
- 27-Jul-2022 4:21 PM
- Journalist: Rene Swann
The pricing curve of multiple commodities has started facing the base in the global market, as the demand dynamics have plunged effectively. As per the data, Ethyl Acrylate prices have slipped in Europe and the USA during the month of July 2022.
The latest data shows that the price of Ethyl Acrylate has declined marginally in the USA by around 0.5%, owing to stagnated offtakes amidst ample product availability in the country. This price decline has primarily been driven by a significant fall in demand from the domestic market amidst ample product availability in the country.
Similarly, the German market also witnessed similar market sentiments in the meantime, where the Ethyl Acrylate prices remained dull post tumbling by 1.2% during July 2022. Recently, it was observed that, under the influence of high energy value, producers in Germany have started cutting their production. Consequently, demand for several commodities has declined, leading to a consistent fall in their prices in the country.
As per the latest intel, the supply curb of Natural gas imposed by Russia on Germany through Nord Stream has shattered the market activities of the country. Producers in the country are very cautious about the future procurement of raw materials, as the demand outlook of downstream derivatives chemicals is highly skeptical. Meanwhile, US Natural gas prices have again picked up pace in last few weeks.
On the other side, the US market has been slowly moving toward recession for the past couple of months, which injected negative market sentiments in the country. Furthermore, international demand has also been hampered, as the threat of recession is not limited to the country and has become a global concern.
As per ChemAnalyst, “demand fundamentals for the product is not likely to revive in the US and German market soon. Thus, the recent price trend might remain persistent, and prices may keep tracing a downtrend in the near term.”