For the Quarter Ending March 2024
North America
During Q1 of 2024, the Butyl Acrylate market in North America faced a mixed market scenario. Initially, it faced a bullish market situation due to the insufficient inventory levels for the rising demand from the downstream Paint and Coating sectors. Considering the market situation, the producers enhanced their production rate to provide a sufficient amount of inventory levels to attain the supply and demand equilibrium.
However, in the second half of Q1, the prices of Butyl Acrylate followed a downward trend due to the weak demand from the downstream Paint and Coating sectors along with the stocked-up inventory levels which resulted in lower trade inflows of Butyl Acrylate to save the market situation to worsen. Therefore, the market participants lowered their ex-quotation to attract buyers and hence the procurement activities.
During the quarter, the Mexican Peso appreciated against the United States Dollar, resulting in a slight incline. The quarter-ending price of Butyl Acrylate CFR Manzanillo in Mexico was USD 1640/MT.
APAC
The APAC region encountered a mixed market situation for Butyl Acrylate in the first quarter of 2024. The Butyl Acrylate market faced bullish conditions at the start of Q1 due to the strong Butyl Acrylate market and the insufficient stocks, the trading activities from the Chinese market to the Japanese market were enhanced so that a sufficient amount of inventory levels could be provided to attain the equilibrium between supply and demand. Due to the upcoming Lunar New Year in February 2024 in China, trading activities were done at a higher rate to stock up the inventories for the anticipated demand. However, in H2 of Q1, the prices of Butyl Acrylate showcased a bearish trend due to ample product supplies. Sales for downstream sectors, including Construction, Paint, and Coating, were concentrated in January 2024 and the first week of February 2024 in anticipation of the Lunar New Year. This frontloading of sales reduced trading activities from Indonesia to Japan during the usual Lunar New Year period. The pre-emptive stocking by market players helped meet demand, mitigating the impact of the holiday on trade. However, as the Lunar New Year festivities concluded, prices stabilized following a period of softening.
MEA
During the first quarter of 2024, the Butyl Acrylate market in the MEA region experienced notable fluctuations and market conditions that impacted prices. In H1 of Q1, the prices of Butyl Acrylate inclined due to insufficient existing inventories because of which the producers raised their production rates to cope with the rising demand from the downstream Paint and Coating enterprises. However, in H2 of Q1, the prices of Butyl Acrylate showcased a declining pattern due to the disturbance in the equilibrium between supply and demand. However, there was an increase in the prices of upstream Propylene and Crude Oil markets, whereas the prices of Acrylic Acid remained the same as the previous month. The demand from downstream Paint and Coating sectors was weak and the existing inventory levels were sufficient to meet the demand. In terms of price trends, there was a moderate decrease in prices compared to the same quarter in the previous year, with a percentage change of around -5%. However, there was no significant change in prices from the previous quarter.
South America
Throughout the initial quarter of 2024, the Butyl Acrylate market in the South American region encountered significant fluctuations and dynamic market conditions. In the H1 of Q1, the prices of Butyl Acrylate inclined due to the Lunar New Year in February, and the trading activities from the Chinese market to the Brazilian market escalated, furthermore, due to the disruption in the Red Sea, the shipments of goods are done from the Cape of Good Hope which resulted in the delayed shipments and increased freight charges.
Additionally, the demand from the downstream Paint and Coating enterprises was raised slightly and was not fulfilled by the existing inventory levels. Therefore, all the above-mentioned factors contributed to the increase in the prices of Butyl Acrylate in the Brazilian market.
However, in H2 of Q1, the Butyl Acrylate market declined due to the disruption in the supply chain of the commodity. The Butyl Acrylate market benefited from sufficient inventories meeting demands from downstream Paint and Coating sectors, ensuring seamless operations across the supply chain without any disruptions. In light of this market stability, traders maintained their quotes unchanged, while buyers favored on-demand procurement strategies over bulk purchases to effectively manage risks. Even with the rise in prices in the upstream Crude Oil market, which typically impacts energy costs for production, the prices of the product remained stable. Therefore, the trading activities from the Chinese market to the Brazilian market were muted to avoid the accumulation of inventories.
Europe
The First quarter of 2024 witnessed several factors that had a significant impact on the Butyl Acrylate market in Europe. One of the major factors was the substantial increase in demand from downstream industries, especially the Paint and Coating sector. This surge in demand put a strain on the supply of Butyl Acrylate as existing inventories were inadequate to meet market needs. Moreover, the market was further affected by the ongoing farmer protests across European countries, resulting in disruptions in the supply chain and delays in product deliveries. These supply chain disruptions exacerbated the already existing supply-demand imbalance, leading to higher prices for Butyl Acrylate. In terms of specific country analysis, Germany experienced the most pronounced price fluctuations during the quarter. The German market was heavily impacted by the supply chain disruptions caused by the farmer protests, causing a shortage of available inventory. This, coupled with the strong demand from the Paint and Coating sector, resulted in a sharp increase in Butyl Acrylate prices in Germany. The quarter-end price of Butyl Acrylate in Germany stood at USD 1515/MT (FD-Hamburg). This represents a significant increase compared to the same quarter of the previous year. However, there was no change in prices compared to the previous quarter of 2023. Overall, the Butyl Acrylate market in Europe faced challenges in terms of supply and demand dynamics, with high demand and supply chain disruptions driving up prices. The German market, in particular, experienced significant price fluctuations due to the impact of the farmer protests and robust demand from the Paint and Coating sector. Additionally, the market experienced multiple shutdowns and disruptions, further contributing to the increase in prices.
For the Quarter Ending December 2023
NORTH AMERICA
The North American Butyl Acrylate market had a moderate to bullish trend in the current quarter of 2023 (Q4). The market witnessed low to moderate supplies, resulting in an incline in prices. The surge in demand from downstream Paints and Coating enterprises led to a price hike for the commodity. The market showcased bullishness in Mexico due to consistent purchasing activities from buyers and inadequate inventory levels.
The increased trading activities among significant manufacturing units from the United States to Mexico were a result of low inventories and heightened demand from downstream enterprises. An increase in the freight charges due to the increase in transporting fuel was another factor that impacted the market.
Additionally, suppliers and traders raised their quotations to enhance their profit margins along with the sales. The quarter witnessed a price trend of USD 1628/MT (CFR-Manzanillo) in Mexico on December 2023, with a 6.07% increase from the previous quarter and a 6% price percentage comparison between the first and second half of the quarter. No plant shutdown was reported during this period.
APAC
The fourth quarter of 2023 proved to be significant for the Butyl Acrylate market in the APAC region. Several factors played a role in shaping the market dynamics and prices during this period. Firstly, in H1 of Q4, there was a drop in demand from downstream industries such as Paints and Coatings, which drove down the prices of Butyl Acrylate. Additionally, the low operating costs in the market contributed to the declining price trend. Whereas in H2 of Q4, the demand from the downstream Paint and Coating sector increased which resulted in the enhanced consumption of the existing inventories. The supplies were not sufficient to fulfill the demand from the downstream sectors, therefore, the production rate was increased to cope with the demand. Furthermore, the price trend in Japan showed a negative correlation with a decrease of 45% compared to the same quarter in the previous year. There was also a decline of 6.25% in prices from the previous quarter, indicating a downward trend. In conclusion, the fourth quarter of 2023 witnessed a decline in Butyl Acrylate price in the APAC region in comparison with the previous quarter of 2023, driven by demand from downstream industries and the overall market conditions. The quarter-ending price for Butyl Acrylate - CIF Tokyo in Japan was USD 1352/MT.
MEA
In the fourth quarter of 2023, the Butyl Acrylate market in the Middle East and Africa region experienced several significant factors that influenced prices. Firstly, the market saw a bearish trend due to low demand from the downstream Paints and Coating sectors, resulting in reduced trading activities and surplus inventories. Additionally, the decline in the prices of the upstream Acrylic Acid, a key raw material for Butyl Acrylate production, contributed to the downward pressure on prices. Moreover, the high availability of existing inventories further impacted the market, leading to decreased consumption rates and lower production costs. One notable country in the region, Saudi Arabia, experienced a decline in Butyl Acrylate prices. The market situation was bearish, with high supply and low demand. Suppliers had to reduce their quotations and offer discounts on bulk purchases, but buyers remained cautious and scaled back their purchasing activities. The decline in prices of the upstream Acrylic Acid also influenced the price trend of Butyl Acrylate in Saudi Arabia. In terms of price performance, there was a 3.7% decrease in prices from the previous quarter. However, there was no significant change in prices compared to the same quarter of the previous year. The price of Butyl Acrylate in Saudi Arabia at the end of the quarter was USD 1070/MT (FOB-Al Jubail). Overall, the Butyl Acrylate market in the MEA region, particularly in Saudi Arabia, faced challenges due to low demand, surplus inventories, and declining prices of raw materials. These factors contributed to a bearish market and downward pressure on prices. The industry will need to closely monitor the demand from downstream sectors and the availability of raw materials to assess future price trends.
SOUTH AMERICA
The fourth quarter of 2023 for Butyl Acrylate in South America was marked by a bullish trend due to low supplies and high demand from downstream sectors such as paints and coatings. The surge in appetite for the commodity led to an increased uptake of the existing inventories and the need to restock storage units to meet domestic market needs. Brazil experienced a slight incline of 1% in the price trend of Butyl Acrylate due to insufficient existing inventories in the storage units and increased demand. The pricing trend of Butyl Acrylate remained stable in October 2023 due to the Golden Week in China, which resulted in trading at a higher rate in the previous week to store stocks for anticipated downstream demand. The shutdown of any plant did not impact the market in this quarter. Butyl Acrylate pricing for Brazil in Q4 2023 had a bullish market situation due to low supplies and high demand. The quarter-ending price of Butyl Acrylate CFR Santos in Brazil was USD 1638/MT.
EUROPE
During the Q4 of 2023, the prices of Butyl Acrylate showcased fluctuations. In November, the price of Butyl Acrylate in the German market saw an incline of 2.17%. The Butyl Acrylate experienced a shortage in supplies since the existing ones were not able to cover the rising demand from the downstream Paints and Coating enterprises. Regarding the upstream market, the prices of Acrylic Acid showcased an inclination in its price trend as well, supporting the prices of the commodity. Considering the market situation, the production rate for the commodity was enhanced by the producers so that the demand could be satisfied. In terms of the buyer, the purchasing activities increased as well despite the incline in the prices of the commodity due to the raised quotations of Butyl Acrylate from the trader's end. Heightened demand from the downstream Paints and Coating enterprises resulted in increased trade so that the demand could be fulfilled. In terms of the spread, the difference between the end product and its feedstock widened showcasing the bullish price trend of the commodity. In the European market, the prices of the commodity were observed to be inclining. However, in H2 of Q4, the market price of Butyl Acrylate declined by 1.57% in the German market supported by the declined prices of its upstream Acrylic Acid market. From the downstream Paint and Coating enterprises, low demand was rising for which the existing inventories were sufficient, however, the rate at which the utilization of the commodity took place was low. Germany's inflation rate was 3.7% in December 2023, according to the provisional data from the Federal Statistical Office. This estimate follows a moderate increase in consumer prices of 0.1% in November 2023. Furthermore, the annual average inflation rate for 2023 is expected to stand at 5.9%. Consumption of the existing inventories was done at a slower rate resulting in the accumulation of the commodity. This made the producers cut their production rate to avoid any further stockpiles.
For the Quarter Ending September 2023
North America
The market price of Butyl Acrylate declined in the 3rd quarter of 2023 and, in September, settled at USD 1469/MT (DEL-Texas). However, in the first half of the third quarter, the price trend slightly dropped due to bearish demand from the downstream paints and coating market, for which sufficient inventories were present in the storage units, due to which the supplier was obligated to hold their prices. In terms of the upstream acrylic acid market, the prices declined, which supported the price trend of the commodity by decreasing the production cost. Towards the end of the third quarter, the surge in the demand for the commodity and the decrease in the inventory levels created the requirement for fresh stock, resulting in the commodity's elevated price trend. Furthermore, the production rate was enhanced, which further provided a boost to the price trend. Therefore, a surge in trading activities was observed, which further led to an increase in the operational cost of the product. Increased prices allowed suppliers to improve their sales and profit margins.
APAC
The price trend of Butyl Acrylate during the third quarter increased in the Asian-Pacific region and reached USD 1395/MT (FOB-Qingdao) in September. The product prices showcased a bullish trend as the product orders improved from the paint and coating sectors, and producers tightened their supplies due to their stressed availability. Recent price developments in the underlying feedstock Acrylic Acid market and imbalances in the supply and demand situation in the Chinese market helped the prices to showcase a bullish price trajectory. Furthermore, in the case of September, the supply of Butyl Acrylate was insufficient due to the continuous consumption of the commodity by the downstream paint and coating market. Along with the arrival of Golden Week in October 2023, the price trend was kept brisk. Furthermore, the price trend of its feedstock was gradually increased as well. Therefore, a surge in trading activities was observed, which further led to an increase in the operational cost of the product. The buyers ' demand for Butyl Acrylate from the downstream paint and coating enterprise remains high. Due to the increase in the demand for the product, manufacturing units were maintaining their sales and profit margins.
Europe
In the European market, the price trend of Butyl Acrylate declined in the third quarter of 2023 and settled at USD 1230/MT (FD-Antwerp) in September. In terms of the feedstock market, that is Acrylic Acid plummets, whereas n-butanol was found to be stable, impacting the price trend of butyl acrylate. Additionally, the demand for the product from the downstream painting and coating market also remains feeble, contributing to the decline in the price trend of the commodity. Butyl acrylate supply was adequately supported by the sluggish price trend from its feedstock market. Furthermore, sufficient inventories in the storage units in the market led to an adequate supply of the commodity. The trade of Butyl Acrylate within the European region also declined as the region was well-supplied with the product availability. As the demand for the product from the downstream paints and coating enterprise was low, enough inventories in the storage unit and sluggish requirements for fresh stocks made the price trend of the product fall, forcing the suppliers to revise their prices.
South America
During the third quarter of 2023, a decline in the price trend of Butyl Acrylate was recorded, and in September, it settled at USD 1529/MT (CFR-Santos). At the start of the third quarter, fluctuations in international commodity prices have caused considerable unease among buyers operating within specific regional markets. Specifically, concerns regarding potential increases in natural gas costs and escalating crude oil values have unsettled market participants, leading some Brazilian producers who rely heavily on Russian natural gas supplies to introduce an energy surcharge when negotiating deals. Towards the end of the quarter, the supply of Butyl Acrylate was observed to be sufficient in the Brazilian market. However, the market situation was weak due to the low demand for the product from the downstream enterprise. Demand for Butyl Acrylate was low from the downstream paint and coating market, due to which the suppliers limited the trading of the product among the manufacturing units. Since the demand for the commodity was less, it was compensated by the consumption of the existing inventories in the storage units.
MEA
In the Middle Eastern market, the price trend of Butyl Acrylate showcased an upward price trajectory throughout the quarter. In September, Butyl Acrylate's price in Saudi Arabia rose to USD 1210/MT (FOB-Al Jubail). The cost support from its feedstock, acrylic acid, was limited, and the price trend of n-butanol declined in the Middle Eastern market, resulting in the commodity's decreased production cost. However, the elevation in demand from the Asian market allowed the traders to elevate the export prices. Nevertheless, in the domestic market, the production rate among the ventures elevated along with enhanced trading activities. Furthermore, the supply of the product was observed to be low, but due to the high demand for the commodity from the downstream paints and coating market and the high consumption of the existing inventories in the storage units, the price trend of the product elevated. Since the market situation was observed to be bullish, it provided cost support to the enterprises along with improvement in sales.
For the Quarter Ending June 2023
North America
The prices of Butyl Acrylate plunged in the North American market during the second quarter of 2023 at USD 1510/ton DEL Texas as per market team data in June. Despite consistent production costs in the region, the market price of Butyl Acrylate exhibited stability, remaining unchanged. The product's inventory level among traders remained constant, as indicated by market quotations. This can be attributed to reduced product consumption within the paints and coatings sector. In the region, the supply chain maintained a moderate status, ensuring that the inventory level remained unaffected among traders and suppliers. Furthermore, the market shipments of Butyl Acrylate proved to be ample, adequately meeting the demand arising from downstream market requirements as per market team data in the region. The market demand for paints and coatings displayed a bearish trend, resulting in a significant reduction in the procurement of the product from the Acrylate market. This decline in consumption subsequently caused the product's inventory level to rise, as reported by traders.
APAC
The prices of Butyl Acrylate plunged in a downward curve as per market team data at USD 1205/ton FOB Qingdao in China during June in the second quarter of 2023. The rate of new orders grew at a milder pace compared to last month, when employment witnessed its fourth consecutive drop. Although exports experienced no change in demand, purchases showed another increase. Production schedules face moderate stress with slight expansion in backlogged work. Raw material costs have fallen the most since January 2016, leading to minimal input prices. Changes in sales prices resulted from intensified market rivalry and sales promotion activities. Buyers expressed apprehension towards heightening market circumstances corresponding to an eight-month record low level of confidence. While the construction industry remains static, no significant alterations or growth surges have occurred in the latest week or the past year. As far as future predictions go, profits are anticipated to ascend annually by eighteen percent. Businesses involved in the construction industry have observed their earnings amplify by 8.9% yearly during the past trio of years. Simultaneously, total revenues garnered by said businesses escalated by 12%, higher than the customary industry commonplace of three percent. Resultantly, general sales augmentation leads to enhanced profitability projections for participating companies.
Europe
In April 2023, the market price of Butyl Acrylate fell significantly in the Belgian region to USD 2006/ton FD Antwerp during the second quarter of 2023. Production of Butyl Acrylate was reduced considerably compared to October of the previous year, while new orders declined sharply, marking an eight-month low. Additionally, prices of downstream finished products decreased rapidly over the past three years, leading to a negative shift in market sentiment. Last week, the construction sector experienced no growth. However, despite this short-term stagnation, the industry has performed relatively well in the long term, posting a notable 13% improvement in the previous 12 months. Analysts predict that the outlook for profit in Europe's building trade will remain stable, highlighting stability in the regional market according to trade data in the upcoming two years. The inventories of Butyl Acrylate elevated due to lower consumption as per trade data in the region and the market analysis, along with fluctuations of procurement in the country.
South America
The prices of Butyl Acrylate plummeted in the Brazilian market to USD 1203/ton FOB Al Jubail as per market team data. New order volumes saw nine consecutive months of contraction due to persistently low local and international demand, as per respondents who cited a challenging operating climate as the cause. Subsequently, total industrial activity shrank further on account of a marked reduction in the output of intermediary items. During the same time frame, employment continued to decline owing to overcapacity within various production streams, as reported by responding establishments. Despite softening price levels and looser raw material supplies working against favorable market scenarios, producer price indices closed marginally below neutral territory, recording modest improvement following last quarter's reading. Survey responses revealed guarded optimism towards medium-term expansion plans, even though the present operating environment presents formidable challenges to manufacturers. According to recent reports, the PMI index for BAM in the Brazilian market dropped to 46.6 figures while the Consumer Price Index (CPI) appeared to be increasing to 6665.28 points. International trade statistics showed automobile demand driving exports from key nations, including China, the US, Germany, and Russia. Downstream markets experienced diminished appetite for the end product leading to a bulging stockpile situation that placed pressure on suppliers.
MEA
The prices of Butyl Acrylate elevated in the Middle Eastern market at USD 1100/ton FOB Al Jubail during the second quarter of 2023. Over the most recent week, the Construction Materials industry did not experience any significant fluctuations. Despite this relatively stable period, when considering the preceding twelve months, the industry underwent a decline of approximately eleven percent during that interval. In terms of projected earnings, analysts anticipate a double-digit contraction of roughly twenty percent within the Saudi Arabian market. Concerning feedstock Propylene, its utilization has noticeably decreased within the Middle Eastern marketplace. Parallel to this, trade sources have indicated that inventory holdings among merchants have risen steadily. The market price of Butyl Acrylate elevated in the Saudi Arabian market, with production costs rising, putting pressure on the Acrylate chain in the region. Saudi Arabia's PMI fell to 58.5 in May, above its long-run average of 56.9, as the rising market demand condition had pushed new order inflows to grow at its quickest pace.
For the Quarter Ending March 2023
North America
The market value of Butyl Acrylate is depleted in the USA market with costs at USD 1976/ton DEL Texas. The country's central bank planned to boost interest rates to lessen the weight of inflationary pressure from local consumers, which had an impact on the region's economic activity at the start of the quarter. Demand dynamics were tipped towards a sharp decline and finally decreased by the middle of the quarter. Due to rising feedstock costs for ethanol and acrylic acid in the US market, the product's operational costs remained high. The downstream adhesives and sealants industry's demand for the product has recently decreased.
Asia
The prices of Butyl Acrylate were depleted in the Asian market during Q1,2023 with prices at USD 1463/ton FOB Qingdao. The fertilizer market in Asia moved in a negative see-saw fashion due to growing market stocks and the involvement of dealers and suppliers. The region's marginal demand for sulfuric acid decreased as local market inventories grew. The revenues from the feedstock, Acrylic Acid, were exhausted as a result of decreasing sales in the Asia market region. The downstream fertilizer industry is in a terrible situation due to a conflict between supply and demand. Consumer interest in Acrylic Acid is average, and the production trend has been declining.
Europe
The market value of Butyl Acrylate was de-escalated in the European market with prices at USD 2624/ton FD Antwerp. The Chinese market's dropping demand for Acrylic Acid and an increase in the shipment of acrylates at the beginning of the month resulted in sufficient stockpiles with the dealers. Despite weakening demand, firms are keeping up production levels to maintain market share, which has led to an increase in completed product inventories. Due to growing competition in the market for ethyl acetate, local retailers tried to maintain their prices of items lower. Ethyl Acrylate was seeking a rebalancing of supply and demand, and the declining trend was being handled prudently.
For the Quarter Ending December 2022
North America
In the last quarter of 2022, the prices of Butyl Acrylate plunged in the North American region, with costs ranging at USD 2141/tonne DEL Texas during December. The inventories were steady due to weakened downstream purchases from the paints and coatings market sector. Imports from the countries like Japan, South Korea, the United Kingdom, and Italy were invariable now in the regional market. The feedstock Acrylic Acid prices fluctuated, further affecting the market sentiments. The demand for Butyl Acrylate from downstream adhesives and acrylic rubbers sectors plummeted, thus tracing a downtrend owing to a rise in inventories amidst a rise in offtakes.
Asia
The prices of Butyl Acrylate decreased in the Asian market during the fourth quarter of 2022, with costs ranging from USD 1423/tonne FOB Qingdao within October month as noted in the Chinese region with a quarterly de-escalation of USD 336/tonne as per noted by the ChemAnalyst Research Team data. The feedstock n-butanol market was expanding because some regions of China saw a decline in n-butanol unit production, the on-site inventory was manageable, and there was no pressure on the supply side. The on-site supply of feedstock n-butanol declined due to maintenance on several n-butanol units during the middle of the quarter. The buying interest was weak, and the market region's demand was plummeting.
Europe
During Q4 of 2022, the prices of Butyl Acrylate plummeted in the European regional market, with costs ranging at USD 3266/tonne FD Hamburg in November within Germany, as per ChemAnalyst. Butyl Acrylate demand in the German market fell along with an increase in inventories and stockpiling of the product in the regional market. The supply conditions in the German market have been impacted by the strike in the UK as a result of ongoing inflation and wage hikes demanded by English workers during October. The downstream adhesive industry was also hampered by low consumption of paper roll labels in comparison to the previous quarter. Furthermore, low freight costs and prevailing logistical issues amidst soft consumer sentiment pulled Butyl Acrylate prices in a downward direction.
For the Quarter Ending September 2022
North America
With the soaring US inflation, the prices of Butyl Acrylate fell in the American region during the third quarter of 2022, with prices ranging at USD 2388/ton DEL Texas in September. As the demand from the downstream paints and coatings industry dropped in the regional US market, the prices of Butyl Acrylate deteriorated. Although, despite the supply chain issues in America, railroads continued to convey enormous amounts of cargo. Changes in consumer spending habits led to a decrease in manufacturing orders, which contributed to a decline in demand that pushed spot prices down. In addition, international inquiries were assessed to be cast down amidst the port congestion and fluctuating container charges.
Asia
The prices of Butyl Acrylate fell in the Asian market during Q3,2022 with prices ranging at USD 1725/ton FOB Qingdao in the Chinese market during August as per ChemAnalyst pricing team data. China's market has observed a downward trend, as reported by traders; the buying sentiment has remained sluggish amid pandemic-related disruption debt-ridden construction industry, which continues to plague the economic activities. During this period, China underwent a severe decline in economic activities, contributing to fuelling concerns over global inflation. However, decrement in demand from the downstream paints and coatings industry plummeted the Butyl Acrylate pricing to trend downwards. Meanwhile, few suppliers quoted higher material availability alongside a dull outlook for the product.
Europe
During the third quarter of 2022, the prices of Butyl Acrylate were see-sawed in the European market, with prices ranging at USD 3297/ton FD Hamburg in Germany during July. The downstream adhesive industry also remained deterred due to low consumption from the electronic and packaging industry. The downtrend in the prices came on the back of snug material availability in the domestic market and a surge in imports from neighboring and overseas markets. However, the growing speculations around the European recession deterred consumer sentiments from the downstream paints and coatings industry even though demand for the product declined by the middle of the quarter while availability remained firm.
For the Quarter Ending June 2022
North America
Rising Inflationary pressure kept pressuring the US Acrylate market throughout the quarter, as the manufacturers had to revise their product prices to protect their profit margins. As per the insights, rising upstream value, owing to the Russo-Ukrainian war, affected the prices of several commodities in the US market, including Butyl Acrylate. After the war escalated, a huge demand shift for natural gas from Europe was observed, shifted from Russia to the USA, and contributed to steep rise in its prices across the domestic market. High natural gas cost builds up the inflationary pressure for downstream users and makes the whole market anxious.
Asia
Asian market showcased mixed sentiments during Q2 2022, as major Asian economies were facing different market sentiments. China, which was tending to reach normalcy after battling the pandemic in the country, seemed like not happening. The threat of another explosion of new cases was hovering around the head of manufacturers in the country, tending to start another round of restrictions in the country, all thanks to the country's zero covid policy. ChemAnalyst data suggests that Butyl Acrylate prices declined during the last month of the quarter after rising for two months. Butyl Acrylate price hovered around USD 2210/MT during China's first week of May. On the other side, the price declined during May and June due to demand dullness from domestic and niche buyers.
Europe
Butyl Acrylate prices kept rising throughout the quarter across the European market on the back of modest to stable demand fundamentals from downstream sectors amidst the ongoing war crisis in the market. Prices for Butyl Acrylate marched higher in the domestic market on the back of rising feedstocks values under the influence of inflationary pressure induced after rising in natural gas prices. On the supply front, the German market witnessed tightened supplies as lowered production rates pressurized manufacturers in the backdrop of soaring upstream values. Furthermore, high freight costs and prevailing logistical challenges pushed Butyl Acrylate prices up in the European market. FD Hamburg prices for Butyl Acrylate averaged during April were assessed at USD 3228/MT.
For the Quarter Ending March 2022
North America
Taking pressure from global uncertainties, Butyl Acrylate price kept on tracing uptrend throughout the quarter across the US market. Demand fundamentals for the product-maintained stability, as improving economies coupled with rising input cost accelerated the pace of price revisions in the North American market. In addition, tension between Russia and Ukraine also remained a major factor behind steep rise in prices of feedstock Acrylic Acid in the US market, as WTI and Brent crude oil value rose drastically during this quarter. As per the assessment, Butyric Acid price hovered around USD 2355/MT during February which was still 8% lower than October prices.
Asia Pacific
Post witnessing consistent decline in price of Butyl Acrylate during Q4 2021, Butyl Acrylate showcased an uptrend during this year. Economic recovery amid stable to firm offtakes supported the overall pricing dynamics for the product across regional market. However, under the influence of Russia and Ukraine war pushed up the price of upstream crude oil, influencing feedstock Acrylic Acid cost in the region. However, in China, lunar holidays coupled with baizing Olympics also remained another reason behind steep rise in prices of several commodities including Butyl Acrylate in the domestic market. As per the ChemAnalyst assessment, Butyl Acrylate price hovered around USD 2234/MT in India during February 2022.
Europe
European market primarily influenced by Russia Ukraine conflict, as numerous disturbances have been observed across the region due to sudden escalation of war situation. Anticipated rise in price of natural gas, coupled with soaring crude oil value induced uncertainties across global market, stirred market fundamentals for regional buyers. Being highly dependent on Russia for Natural gas, some German manufacturers heard opting for energy surcharge, supporting traders to revise their offers frequently. In addition, due to consistent rise in crude oil value amidst disturbed trade activities via black sea, feedstock Acrylic Acid rose significantly across the regional market. Conclusively, Butyl Acrylate price remained buoyant throughout the quarter across European market.
For the Quarter Ending December 2021
North America
Market dynamics for Butyl Acrylate showcased mixed sentiments for North American market, while demand fundamentals remained stable to firm from domestic market. Raw material prices also played differently, while n-Butanol maintained overall stability Acrylic Acid prices followed different momentum in the US market. Acrylic Acid prices heard recovering from the dynamics created by freezing whether during February, which also impacted the price of its downstream derivatives. Furthermore, Crude oil tumbled significantly during November with Asian trading on the back of heightening concern of rising pandemic related uncertainties. Conclusively, taking pressure from dull feedstock prices, Butyl Acrylate prices fluctuated in a narrow range during this quarter across US market.
Asia
During this quarter, whole Acrylic Acid market of China witnessed dullness on the back of low offtakes from the domestic market. Imposed production cuts in order to reduce emission, already reduced offtakes from the downstream buyers, affecting price trend of Acrylic Acid and its derivative chemicals including Butyl Acrylate. Meanwhile, despite fluctuating raw material cost, Butyl Acrylate prices remained low during this quarter across Indian market. Due to low demand post festive season, traders heard revising their offer to sustain offtakes, while raw materials were also running inline with diminishing demand pattern. However, raw material prices have started rising on the back of Omicron threat. Conclusively, post witnessing consistent decline, Butyl Acrylate price hovered around USD 2502/MT during November.
Europe
European market remained firm on the basis of price movement for the product throughout the quarter. Exponential rise in energy prices kept the price of raw material significantly high during October and November, while demand fundamentals fluctuated in modest to stable range. As per the analysis, long term buoyancy was observed for Butyl Acrylate during this period, primarily driven by frequently changing raw material prices across major European countries like Germany, Netherland and Russia. However, despite of the fact that prices kept on declining throughout the quarter, Butyl Acrylate were still hovering at very high note i.e., USD 1825/MT during November in Germany.
For the Quarter Ending September 2021
North America
In the third quarter of 2021, high demand amidst tight supply across North America escalated the pricing trend of Butyl Acrylate. As its feedstock, Acrylic Acid witnessed a constant hike in its prices which fumed the prices of Butyl Acrylate and its downstream products. Moreover, by the end of August, disruptions caused by Hurricane Ida in the United States not only impacted the functioning of several manufacturing plants including Butanol and Acrylic Acid but also disrupted the supply chain across the international market. For instance, Dow, was compelled to shut down its Acrylic Acid plant in August end due to the power outages as an effect of hurricane. Besides, there was substantial rise in the demand for Butyl Acrylate from downstream paints, adhesives, and coatings industries after the resurgence in the industrial and commercial activities which further encouraged this upward price trajectory in North America.
Asia
In Asia, Butyl Acrylate prices faced prominent rise in the Asian market in Q3, owing to the significant climb in the prices of feedstock Acrylic Acid. Moreover, improvement in the demand from downstream sectors and tightened availability of the product led to the increment in the values of Butyl Acrylate in this timeframe. However, a dip in the prices of upstream n-Butanol was witnessed in the Chinese market that attributed to the ease in the quotes offered by the manufacturers. In addition, lower production rates following the new energy policies in China further sent ripples to the Butyl Acrylate prices. Hence, FOB Wuhu-China monthly average in September stood at USD 2868 per MT portraying a growth of USD 852 per MT from the prices noticed in July. Similarly, in India, Butyl Acrylate market experienced an upward rally backed by the lower imports of feedstock Acrylic Acid amidst its sturdy demand. However, a slight dip in Butyl Acrylate values was observed in September owing to the cheaper n-Butanol as well improvement in the imports. Hence, Butyl Acrylate Ex-Hazira prices were accessed at USD 2887.09 per MT in July.
Europe
During the third quarter of 2021, the limited availability of Butyl Acrylate and its upstream Acrylic Acid across the region and a firm demand from the downstream paints and coatings sector led to the exponential rise in its prices in the European market. Several factors such as disruption in the supply chain from the USA and Asia in effect of Ida hurricane and shut down of Ningbo port of China in August contributed to the surge in the pricing trending of Butyl Acrylate in Europe. Moreover, skyrocketing freight cost across Asia-Europe and US-Europe trade routes also aided the rise in the prices of Butyl Acylate and its derivatives in this quarter.
