Polymethyl Methacrylate Show Mixed Sentiments Across Global Market
- 24-Jun-2022 4:25 PM
- Journalist: Jai Sen
According to the most recent data, Polymethyl Methacrylate prices in the US market continued to rise due to low inventories and high demand. The value of the feedstock Methyl Methacrylate has bolstered the prices trend of Polymethyl Methacrylate.
Besides, high offtakes from the downstream automotive, electronics, and energy sectors have also contributed to the upward rally in Polymethyl Methacrylate prices across the regional market. As a result, the prices of polymethyl methacrylate were hiked by 1.1% during June.
Additionally, in the European market, Polymethyl Methacrylate (PMMA) has showcased a marginal inclination of around 0.7%, due to the limited availability of the product. Simultaneously, the overall market demand remains weak due to the tight supply of natural gas and crude oil. According to ChemAnalyst, prices of Polymethyl Methacrylate hovered around at USD4440/MT in June.
Furthermore, with sufficient supply and a consistent upstream Methyl Methacrylate market, the prices of Polymethyl Methacrylate have witnessed a marginal inclination of 0.2% in mid-June. According to the ChemAnalyst, prices of Polymethyl Methacrylate (PMMA) were assessed at around INR 189000/MT in the Indian market.
Also, the product inventories increased due to firm demand from the downstream packaging and automotive sectors amidst the monsoon season, which has other facets for the stable prices of Polymethyl Methacrylate in the Indian market. Furthermore, abundant inflows of raw material Methyl Methacrylate in the region have added to the pressure on producers, resulting in affected margins and narrowing profit.
On the other hand, in Japan, producers were exerting upward pressure on prices of raw materials Methyl Methacrylate costs coupled with logistic costs have put inflationary pressure on Polymethyl Methacrylate prices in the Japanese market. However, Polymethyl Methacrylate offtakes from the downstream market for the fabrication of cast sheets and emulsion segments have remained weak.
As per the ChemAnalyst estimation, "prices of Polymethyl Methacrylate are expected to surge in the global market due to further rises in demand from downstream packaging as well as from the construction industries. At the same time, raw material Methyl Methacrylate prices are likely to soar in the upcoming months."