Methyl Methacrylate Prices expected to follow a high price trend in April
- 01-Apr-2022 3:48 PM
- Journalist: Harold Finch
The price of Global Methyl Methacrylate surged during March due to the increase in upstream Crude oil prices, followed by the rise in the feedstocks Acetone and Isobutylene prices. Due to the Russia-Ukraine conflict, Crude oil prices lifted, which supported the price rise of feedstocks. In addition, increasing freight charges and continued container shortage resulted in the price hike of Methyl Methacrylate. The demand for Methyl Methacrylate from the paint industry has continued to be solid and robust. Furthermore, Methyl Methacrylate is used as a raw material to produce PMMA (Polymethyl Methacrylate) and Acrylic Resin.
In China, the prices of Methyl Methacrylate have risen due to the uncertainty regarding the resurgence of Covid cases. This further resulted in the lowered production rate and high demand from the downstream paints sector leading to supply bottlenecks in the domestic market. This price trend is expected to continue in the month of April as well.
Furthermore, the United States and India have been facing supply tailbacks because of the heavy reliance on China. Due to the China-US trade war and the supply chain disruptions, the demand for Methyl Methacrylate in the paints industries was not fulfilled due to the supply shortage in the US market. In the Indian Market, the prices of Methyl Methacrylate have been rising as the price of feedstock Acetone.
Moreover, the production activities during the ongoing war have resulted in a supply shortage globally. Methyl Methacrylate and its derivatives, such as acrylic resin, are utilized as a solvent in various paint industries. The demand from these industries is not fulfilled by the downstream manufacturers as the production is temporarily affected, hence increasing the price of Methyl Methacrylate.
As per ChemAnalyst, “The prices of Methyl Methacrylate are expected to rise due to the strong demand from the end-use industries like Paints and Coatings. In addition, increasing feedstock prices on the back of soaring crude oil are likely to increase the Methyl Methacrylate input cost.”