Strong Feedstock Market Is Supporting India’s Methyl n-Amyl Ketone Price Trend
- 17-Jun-2022 5:16 PM
- Journalist: Jai Sen
Mumbai, India: By mid-June, the Methyl n-Amyl Ketone (MAK) price trend continued to accelerate in the Indian market. The downstream food additive traders were taking support from the inclining feedstock Butyraldehyde pricing. Also, the demand-side support remained firm from the domestic market with healthy terminal purchasing activity. Conclusively, the CFR JNPT price discussions have showcased a hike of nearly 2 percent towards the end of the third week of June.
On the other hand, feedstock Acetone is observed to be rebounding this week with fluctuating upstream Crude oil value. With strong demand, the OPEC Basket crude oil has traded at more than 123 US Dollars per barrel. Thus, any variation in upstream value will directly impact the market, as most petrochemical industries rely heavily on crude oil. Meanwhile, in a conference, the International Energy Agency (IEA) quoted that world crude demand will mount until 2025, then decline at a CAGR of 1 per cent between 2026 and 2050. According to the International Energy Agency, Crude oil as a petrochemical feedstock is the only domain where demand will rise by approximately 55 percent of world oil consumption, adding to the petrochemical market by 2050.
Methyl n-Amyl Ketone finds its application as an Industrial solvent, fragrance ingredient in creams, lotions, perfumes, soaps & detergents, and flavour ingredient in food products. As per our trusted market sources, the industries mentioned above, in continuation with previous-month market sentiments, have received persistent multi-digit enquiries for their Methyl n-Amyl Ketone product lines. Therefore, the consumption from the downstream food additive sector and the cosmetic sector is summarized to be robust.
As per ChemAnalyst, “the market dynamics of Methyl n-Amyl Ketone in India will remain bullish. In the upcoming weeks, the demand-side and supply-side support are also predicted to be healthy in the domestic market. Both the feedstock Butyraldehyde and Acetone likely to remain buoyant with firm upstream Crude oil prices.”