For the Quarter Ending March 2025
North America
In Q1 2025, Butyl Acetate prices in the USA showed mild fluctuations, averaging USD 1762/MT FOB Texas, slightly above the Q4 2024 average but significantly lower than Q1 2024’s average, reflecting a 19.4% year-on-year decline. While January and March prices remained flat, February saw a brief uptick due to tight supply and strong demand from the paints and coatings sector.
Initial supply shortages emerged in January amid reduced availability of feedstocks such as acetic acid and butanol, and logistics bottlenecks, including severe weather and port congestion. However, by February, lower acetic acid prices helped ease production costs, and inventories stabilized. Demand peaked in January, supported by non-residential construction activity across sectors like healthcare, warehousing, and data centres.
Yet in February, rising construction material costs and labour expenses softened demand, which continued into March. U.S. construction and manufacturing slowdowns, compounded by tariff-induced import restrictions and global trade uncertainties, weighed on sentiment. In conclusion, Q1 2025 reflected a balanced market with early strength followed by subdued demand, keeping Butyl Acetate prices largely rangebound.
APAC
In Q1 2025, Butyl Acetate prices in China trended downward overall, averaging USD 989/MT FOB Qingdao, marking a 3.6% decline from Q4 2024’s average and a 13.9% drop year-on-year compared to Q1 2024’s average. Prices showed minimal fluctuations, with a slight increase in February before softening again in March. The quarterly trend reflected a stable supply landscape and largely steady downstream demand from coatings, adhesives, and pharmaceutical sectors. Production levels were largely consistent, though temporary plant shutdowns in January slightly reduced operating rates. Despite some cost support from fluctuating feedstocks like acetic acid and butanol, market pressure from overcapacity and limited raw material cost impact kept prices subdued. Domestic demand remained firm through February and March, particularly in coatings ahead of seasonal restocking, but enthusiasm weakened post-holiday. Export demand continued to offer support, although cautious procurement behaviour persisted. Overall, Q1 2025 was defined by a stable-to-weak pricing environment, with balanced fundamentals but growing concerns over long-term oversupply. Any sustained price recovery will depend on stronger downstream utilization and reduced market capacity pressures.
Europe
Butyl Acetate prices in Belgium declined modestly through Q1 2025, averaging USD 1307/MT FOB Antwerp, comparing Q4 2024 and Q1 2024, reflecting a 8.3% quarterly decrease and a 10.6% year-on-year drop. January and March bookended the quarter with softer levels, while February saw minor upward adjustment amid improved coatings activity. Price pressure stemmed from sluggish demand in the paints and coatings sector, tied to prolonged weakness in Belgium’s construction industry. Although early signs of recovery emerged in February, high material costs, labor shortages, and regulatory uncertainty capped sectoral growth. Feedstock acetic acid and n-butanol prices remained steady, offering limited cost pressure. Manufacturing levels held steady, supported by consistent imports. Freight rates from North America declined further, enhancing import competitiveness, though carriers imposed capacity controls to stabilize rates. Despite short-lived demand support from renovation activity in Flanders, weak industrial sentiment, geopolitical tensions, and new trade tariffs with the U.S. weighed on market confidence. In summary, Q1 2025 remained subdued, with bearish fundamentals limiting Butyl Acetate price recovery in Belgium.
For the Quarter Ending December 2024
North America
In Q4 2024, Butyl Acetate prices in the USA remained range bound, holding around USD 1740-1770 per metric ton FOB Texas, despite sluggish downstream demand from the paints, coatings, and personal care sectors.
Ample supply levels balanced the market, even as end-user purchasing power remained constrained. While attempts to reduce prices had minimal impact, upstream methanol prices showed upward momentum due to anticipated increases in Methanex's monthly contract pricing. However, weak methanol demand and elevated shipping costs limited significant price hikes for the feedstock. Manufacturing activity faced pressure as key downstream industries, including construction and automotive, exhibited subdued performance. Chemical producers, such as Celanese, implemented cost-cutting measures and temporary shutdowns to align with reduced demand.
Despite stable supply conditions, the U.S. construction sector, a major consumer of Butyl Acetate in coatings, remained slow, with residential activity facing ongoing challenges from high interest rates and affordability issues. While builder optimism improved slightly, reflecting regulatory relief expectations post-election, overall construction activity stayed below prior-year levels. Looking ahead, market participants express cautious optimism for a potential recovery in 2025, driven by regulatory shifts and improved sentiment in downstream industries. However, persistent supply-demand imbalances and subdued global economic conditions are likely to keep price growth moderate in the near term.
APAC
In Q4 2024, the Butyl Acetate market in China experienced mixed price trends, with overall declines driven by weak downstream demand, high inventory levels, and reduced production capacity due to shutdowns and lower utilization rates. Prices briefly rebounded in late November, supported by production halts in Shandong and modest improvements in demand, before stabilizing in December at around USD 990-1080 per MT FOB Qingdao. Manufacturing activity remained steady, with stable plant operations and government stimulus measures supporting output, although oversupply and subdued foreign sales limited market recovery. Downstream demand from the paints, coatings, and construction sectors stayed weak, reflecting cautious purchasing behaviour and sluggish real estate activity despite ongoing stimulus measures. While higher upstream acetic acid costs could create some upward price pressure, weak trading activity and a cautious market sentiment are expected to keep the Butyl Acetate market in a state of consolidation, with supply-demand imbalances persisting into 2025. Looking ahead, the market faces potential upward price pressure from higher upstream acetic acid costs, but weak downstream demand and cautious trading sentiment will likely limit significant price growth.
Europe
In Q4 2024, Butyl Acetate prices in Germany showed a consistent declining trend, primarily driven by lower feedstock acetic acid prices, oversupply, and weak demand from the construction sector. Prices were further pressured by subdued downstream activity in applications like paints and coatings, exacerbated by a significant contraction in the construction industry. Residential construction saw persistent weakness, while commercial activity faced its sharpest decline in months, and civil engineering posted moderate reductions. Rising costs, logistical challenges, and high interest rates continued to weigh heavily on market sentiment. Manufacturing activity in Germany and the broader Eurozone remained under pressure, with the economic indexes indicating ongoing contraction. Stable plant operations and steady import flows ensured sufficient supply, but oversupply and weak new orders reflected the broader economic slowdown. Business confidence showed some improvement late in the quarter, though supply-side constraints and reduced purchasing activity limited recovery. Looking ahead, the construction sector's challenges, including high material costs and geopolitical uncertainties, are expected to persist, delaying significant recovery until 2025. Although higher upstream methanol prices may create upward pressure on production costs, weak downstream demand and cautious market activity are likely to keep Butyl Acetate prices subdued in the short term.
For the Quarter Ending September 2024
North America
In Q3 2024, Butyl Acetate pricing in North America witnessed a mixed trends with declining prices in the first month of Q3 2024, the prices of Butyl Acetate decline amid weak prices of Feedstock Acetic Acid, and in the second month, prices of Butyl Acetate has increased amid inadequate supply to meet downstream demand, while in the last month of Q3 2024 the prices of Butyl Acetate declined again amid lower demand from the international market and return of adequate supply.
Factors contributing to this fluctuating trend were increased demand from the construction sector, firm prices of feedstock acetic acid, and a rebound in construction employment, particularly in the paints and coatings industry. Despite a bearish outlook due to weak performance in the construction industry, there were positive shifts expected with rising methanol prices.
The quarter recorded a 17% decrease in the same period last year and a slight dip from the previous quarter, with a 6% decrease. Notably, there was a 1% price increase between the first and second half of the quarter. The quarter ended with a price of USD 1845/MT of Butyl Acetate DEL Chicago in the USA, reflecting an overall positive pricing environment amidst the changing market dynamics.
APAC
In the third quarter of 2024, the Butyl Acetate market in the APAC region experienced a period of declining prices, influenced by several key factors. Weak demand from downstream industries, particularly the construction sector, played a significant role in driving Butyl Acetate prices lower. Additionally, stable feedstock costs and subdued market activity contributed to the bearish sentiment. These factors combined to create a challenging pricing environment for Butyl Acetate in the region. In Japan, the market saw the most significant price changes during this quarter. Overall trends indicated a 9.4% increase from the same quarter last year, with a 1.7% decrease from the previous quarter in 2024. Notably, there was a -1% price change between the first and second half of the quarter. This downward trend culminated in the latest quarter-ending price of USD 1150/MT of Butyl Acetate CFR Osaka basis. The consistent decrease in pricing throughout the quarter underscored the negative sentiment prevalent in the Japanese Butyl Acetate market.
Europe
The European Butyl Acetate market in Q3 2024 exhibited mixed trends, with prices declining in the first half but recovered in the second half, though the overall trend remained bearish. This fluctuation was largely driven by lower feedstock acetic acid prices, which reduced production costs. Key factors influencing this trend included lower upstream methanol prices, decreased import costs from China, and weak demand from downstream sectors like plastics and polyester. An oversupply of PTA due to resumed plant operations, coupled with a drop in crude oil prices, further dampened market sentiment. The Eurozone's manufacturing activity remained low, signalling continued contraction in the sector. The Germanys saw notable price changes, with Butyl Acetate prices increasing by 20% compared to the same quarter last year but decreasing by 0.3% from the previous quarter in 2024. Prices between the first and second halves of the quarter dropped by 1%. The quarter-ending price for Butyl Acetate FD Hamburg in the Germany was USD 1,493 per MT, reflecting the overall downward pricing environment in the region.
For the Quarter Ending June 2024
North America
After an initial rise in Butyl Acetate prices at the start of the second quarter of 2024 due to restocking activity, the quarter saw a pronounced decline in pricing across North America due to improved material availability to meet downstream demand. This decline was driven by a combination of ample inventories, tepid downstream demand, and weak market sentiment, all of which exerted downward pressure on prices. Throughout the quarter, the manufacturing and construction sectors, primary consumers of Butyl Acetate, reported average procurement activity, highlighting a lack of buying enthusiasm. Higher inventory levels led producers to reduce quotations to stimulate market engagement, further weakening the price environment.
In the USA, where price changes were most pronounced, the Butyl Acetate market experienced a consistent downward trend. Despite the seasonal peak in freight costs at the start of the shipping season, which heightened production expenses, prices remained low. A notable 20% year-over-year price decline and a 3% decrease from the previous quarter underscored the persistent bearish sentiment. The first half of the quarter saw a sharp 13% price reduction compared to the second half, reflecting heightened supply pressures and stagnant demand.
Overall, the pricing environment for Butyl Acetate in Q2 2024 has been decidedly negative. This downturn culminated in a quarter-ending price of USD 1960/MT DEL Chicago, capturing the overall sentiment of market instability and sustained downward pressure. Continued weak demand, coupled with significant inventory levels, has created a challenging pricing landscape for Butyl Acetate in North America.
APAC
In Q2 2024, the Butyl Acetate market in the APAC region has experienced a notable price increase, driven by multifaceted factors. Amid moderate terminal market consumption and a consistent downstream purchasing enthusiasm, limited enterprise shipments and persistent inventory constraints have propelled prices upwards. The market has been underpinned by the rising costs of key raw materials, such as n-butanol and acetic acid, coupled with fluctuating methanol prices. These cost pressures, alongside heightened restocking activities and strong demand from sectors like construction, have collectively fostered a bullish pricing environment. Japan has witnessed significant movements in Butyl Acetate prices, marking a 24% increase compared to the same quarter last year. This sharp rise can be attributed to a combination of robust industrial activity, particularly in manufacturing and housing construction, and supply chain dynamics. Despite a 1% decrease from the previous quarter in 2024, the overall sentiment remains positive, reflecting resilience in market fundamentals. Seasonal demand variances have also played a role, with the second half of the quarter showing a 5% price uptick compared to the first half, indicating stronger market activity as the quarter progressed. The latest price recorded at the end of Q2 2024 in Japan stands at USD 1170/MT CFR Osaka, underscoring the sustained upward trend. This quarter's pricing environment for Butyl Acetate in Japan reflects a positive trajectory, driven by consistent demand, strategic restocking, and elevated production costs. The interplay of these factors has established a stable yet incrementally increasing price landscape throughout the quarter."
Europe
The prices of Butyl Acetate in the German market showed an increasing trend at the start of the quarter due to lower inventories, leading traders to negotiate higher prices actively. However, in Q2 2024, the Butyl Acetate market in Europe exhibited a consistent downward trajectory, driven by several intersecting factors. Primarily, stable upstream Methanol prices reported by Methanex, and consistent feedstock Acetic Acid prices set the stage for subdued market activity. Adequate supply levels, combined with diminished procurement activities as the quarter concluded, led to a reduction in prices. This trend was exacerbated by lower demand from the construction sector, compounded by labour strikes and economic uncertainties, further dampening the industrial outlook. Import prices from China also played a critical role, exerting downward pressure due to their declining trend, aligning with broader economic and trade dynamics. Germany witnessed the most significant price fluctuations within the European region, with Butyl Acetate prices falling sharply. This decline can be attributed to an ongoing reduction in construction activities, a sector that traditionally bolsters demand for Butyl Acetate. Despite a positive sentiment generated by the European Central Bank’s interest rate cut, the overall market remained bearish. Seasonality also influenced the pricing trend, as the onset of the holiday season typically leads to restocking, yet this year, it failed to halt the downward spiral. Compared to the same quarter last year, Butyl Acetate prices dropped by 7%, reflecting a broader market correction. From the previous quarter in 2024, which saw an earlier surge in prices by 48%, the contrast was stark, underscoring the volatile nature of the market. The first half of the quarter presented a more severe decline, with prices plummeting by 27%, indicating a steep reduction in market confidence and activity. As the quarter concluded, the price of Butyl Acetate in Germany settled at USD 1520/MT FD Hamburg, marking a negative trend within a predominantly bearish pricing environment. This quarter's analysis underscores a market grappling with oversupply, tepid demand, and economic headwinds, painting a persistently negative outlook for Butyl Acetate pricing.
eclined by 5%, reflecting ongoing market challenges, including weak demand fundamentals and elevated storage levels. This consistent sentiment underscores a stable pricing environment, balancing between moderate demand recovery and persistent supply-side pressures.
