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Resilient Butyl Acrylate Market: Steady Performance in North America and Asia Amid Economic Uncertainties
Resilient Butyl Acrylate Market: Steady Performance in North America and Asia Amid Economic Uncertainties

Resilient Butyl Acrylate Market: Steady Performance in North America and Asia Amid Economic Uncertainties

  • 30-Apr-2024 3:28 PM
  • Journalist: Timothy Greene

Jurong, Singapore: During the week ending on April 26th, 2024, the Butyl Acrylate market in the American and Asia-Pacific regions maintained price stability, attributed to a sustained equilibrium between supply and demand. The manageable demand from downstream enterprises in the Paint and Coating sector was adequately supported by existing Butyl Acrylate inventory levels.

In Singapore, the Butyl Acrylate market is witnessed stability with the previous week at USD 1265/MT (CFR-Jurong) on 26th April 2024. However, the Japanese Yen experienced significant fluctuations in trading, dropping to its lowest point against the US dollar in 34 years before rebounding strongly to 155.01, leading to speculation among traders. While the Yen's depreciation has benefitted Japanese exporters and increased spending for tourists in Japan, it has also increased the cost of imported goods, creating financial strain for households. Additionally, during the ongoing Golden’s Week in Japan from 20th April- to 5th May 2024, the trading activities for Butyl Acrylate from the Japanese market to the Singapore market were expected to fluctuate, however, due to the moderate demand from the downstream Paint and Coating sectors for which adequate inventories were present, therefore, the market players decided to continue with their previous quotations to prevent any potential fluctuations in the price trend of Butyl Acrylate.

Similarly, in the North American regions as well, the Butyl Acrylate market showcased a stable trend due to absence of any disruption in supply chain. The buyers also chose to go for on-demand procurement rather than bulk purchasing activities to prevent the stockpiling of the inventories of Butyl Acrylate which might push the market towards bearishness. Since the existing inventories of Butyl Acrylate are fulfilling the stable demand from the downstream Paint and Coating enterprises. In terms of the upstream market, the prices of Crude Oil are declining which is resulting in the lowered energy prices required for the production of Butyl Acrylate.

In the same manner, the Butyl Acrylate market in Brazil has witnessed consistency in its price trend. The moderate demand for Butyl Acrylate from the downstream Paint and Coating industries is getting fulfilled by the inventory levels in the storage units. Therefore, the trade inflows from the Chinese market to the Brazilian market are limited to prevent any potential disruption that may disturb the stable flow of the supply chain of Butyl Acrylate. Considering the market situation, the market players opted for the cautious approach. In the upstream market, the decreasing prices of crude oil are leading to reduced energy costs necessary for producing Butyl Acrylate.

According to ChemAnalyst, the Butyl Acrylate market is anticipated to showcase an increasing price trend in the upcoming weeks due to the expectations of the increase in the demand from the downstream Paint and Coating enterprises. In the Singapore market, due to the ongoing Japanese Golden Week, the trade inflows from the Japanese market to the Singapore market are anticipated to fluctuate which might raise the prices of Butyl Acrylate in Singapore.

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