Soaring Methyl Methacrylate leads to a hike in Global Polymethyl Methacrylate prices
- 05-Apr-2022 4:34 PM
- Journalist: Xiang Hong
Polymethyl Methacrylate (PMMA) prices increased in the global market due to robust demand from the construction industries. The price for feedstock Methyl Methacrylate (MMA) was shown to be on an upward trend during April. The production activities were impacted due to the limited availability of the feedstock MMA.
The ongoing invasion of Russia over Ukraine has markedly affected the production rate and operational cost of various commodities, including feedstock Methyl Methacrylate manufacturing. Due to soaring upstream crude oil, many downstream manufacturers faced difficulties in their production activities. Furthermore, the persistent supply chain disruptions have affected the availability in the markets.
In China, the prices of Polymethyl Methacrylate increased in the first week of April as China is majorly dependent on South Korea for the import of PMMA i.e., around 40%. Uncertainty in South Korea, due to covid outbreak in the country has been interrupting the trade activities. Moreover, the persistent container shortage and high freight charge resulted in soaring prices. In the USA, the price of PMMA showed an upward trend due to low production rates of feedstock MMA along with production outages and logistic issues that affected the supply chains across the region, causing a supply shortfall in the downstream sector.
Polymethyl Methacrylate is also known as acrylic glass utilized in automotive lighting, visual communication, construction, electronics and energy, and others.
As per ChemAnalyst, “The prices of PMMA in the global market are likely to keep the similar trend in the short term as the downstream demand in the construction industries is forecasted to be strong. Rising freight charges on key routes might keep adding to the supply chain concerns. Hence, the price of PMMA is likely to increase in the upcoming weeks. However, any revision in the feedstock MMA prices might bring the prices of PMMA in a stable to firm range”.