For the Quarter Ending June 2023
North America
In the US market, the price of Dimethylacetamide experienced a mixed trend during the second quarter of 2023. The market sentiments fluctuated based on various factors impacting demand and supply dynamics. At the beginning of the quarter, the Dimethylacetamide market witnessed a surge in price trends. This growth can be attributed to the surge in demand for Dimethylacetamide from the Solvent and Adhesive sectors. Additionally, favorable market conditions and stable economic growth played a role in the upward trend. Moving to the month of May, the US market remained stable during this period, and the was due consistent demand for material across the region. However, in June, the Dimethylacetamide market experienced a declining trend. The unbroken declining downstream demand from the Adhesive businesses kept the buyers on edge with high product records. The overall declining price trend amid uncertain economic conditions coupled with the rising inflation rate. Furthermore, the ample practicality of material at a lower price from the overseas market provokes the local mills to reduce their offer prices.
Europe
In the European region, the market of Dimethylacetamide displayed mixed sentiments during the second quarter of 2023. In the month of April, the Dimethylacetamide market witnessed a surge in price trend on account of high demand from the major downstream solvent and adhesive industry. However, in the month of April, increased trading activities and inventory stockpiling helped to mitigate supply shortages and meet the requirement of downstream industries. As a result, during May, market participants adjusted their procurement strategies to align with stabilized demand with normalized market condition, with the market remaining stable during the month. However, in the last month, according to market analysis, due to competitive market conditions and large stock volumes, market players maintained a gloomy price momentum due to weak demand fundamentals and subdued spot activity across the globe. Meanwhile, continuous dipping demand from the downstream Solvent and Adhesive industries preserved traders on side coats to procure heavy orders. Additionally, economic uncertainty and recession fear governed the market sentiments within the region.
APAC
In the Asia-Pacific region, the market of Dimethylacetamide displayed mixed sentiments during the second quarter of 2023. At the beginning of the quarter, the market of Dimethylacetamide witnessed a surge in price trend. This turnaround was prompted by a rise in the consumption rate of Dimethylacetamide material from the major downstream Solvent and Adhesive industries. However, in the past last month of the second quarter, the Dimethylacetamide market continued to follow a declining price trajectory. The spot market continued to observe a slower pace; despite the lower spot price offers, petitions from the enterprises remained low. Additionally, the manufacturers were seen under pressure with a declining demand situation and were found to claim lower consumption rates of Dimethylacetamide from the associated downstream Solvent and Adhesive businesses. A slump in purchasing activities of Dimethylacetamide was observed as the demand recovery fell short of expectations. Overall consumption showed a deep contraction and failed to regain momentum amid Weak demand from downstream Solvent and Adhesive industries. However, in the second quarter of 2023, there was not a major increment in the price of Dimethylacetamide FOB-Nanjing in the Asian region with it, showcasing a minute increment of (0.8%) during the entire second quarter.
For the Quarter Ending March 2023
North America
In the USA, the major Dimethylacetamide refiners reduce their production rate due to weak regional sales and deteriorating market fundamentals. In terms of the upstream market, Acetic Acid was increasingly oversupplied, with high product availability and lackluster spot price discussions. Export prices of Dimethylacetamide faced a Southward trend with lower trading fundamentals. Seasonal low-driving trading activity from the downstream solvent industries also hampered the price trend. Deterred market essentials and restricted exports to South America and Canada make it challenging for the producers to raise the costs further. The supply of Dimethylacetamide exceeds the demand, and the suppliers remained reluctant to increase the prices for the domestic and overseas markets.
Asia Pacific
This quarter, the Dimethylacetamide market showcases a bearish price trend in the wake of lackluster demand and the high declining interest of traders to purchase the cargoes in bulk. The offers and bids of Dimethylacetamide among suppliers from overseas suppliers remain affected by limited market fundamentals and continuous increases in product inventories. The demand for Dimethylacetamide from the downstream solvent industries remains bearish with sparse trading fundamentals. In China, the price of Dimethylacetamide during Feb 2023 slipped to USD 1154/ton FOB Nanjing. Solvent and pharma enterprises stay impacted because of low buying regard from the end user. In Q1 2023, the interest began to fall with frail market essentials in the Asian market.
Europe
In Q1 2023, the Dimethylacetamide prices in the European market showcased a bearish price trend in the wake of low market demand and high product inventories. In the feedstock Acetic Acid market, costs slumped with oversupplies and lower offerings for new stocks. Dimethylacetamide prices slipped due to deteriorating demand and an outflow of cargo from Germany, the Netherlands, and Belgium to the global market. Narrowing profit margins and constraints in demand forced the producers to decrease the prices of Dimethylacetamide for domestic and overseas providers. Cost support was weakened by the seller end with the burden to clear the existing inventories.
In Q4 2022, the Dimethylacetamide market in North America was observed to be bearish amid weak trading activities and weak market fundamentals. Low purchasing esteem and deteriorating demand resulted in declination in the price trend. The downstream solvent market was also affected by low purchases and feeble demand from the consumer's end. Suppliers have sufficient stocks among the enterprises to fulfill the demand from the end-user enterprises. Trade volume among the storage units surged, and high product inventories forced the producers to offer the cargo at discounts. The demand for Dimethylacetamide from the downstream solvent and adhesive industries ended up on a bearish note with cautiously operating ventures.
This quarter, the trading fundamentals of Dimethylacetamide in China slumped compared with the previous one. However, the price increased in Oct with low product inventories. The constricted supply of products coupled with the increment in trading activities affected the region's operating rate of Dimethylacetamide, leading the prices to inflate in the market. However, in Nov, falling demand for Dimethylacetamide from the downstream enterprises and weak trading fundamentals helped the prices to drop. The Dimethylacetamide market was sluggish due to the low market sentiment and limited trading to oversupplies suppliers. In China, the price of Dimethylacetamide in China slipped to USD 1303/ton FOB in Nanjing.
In Q4 2022, with declining trading fundamentals due to weak domestic demand, the significant producer offered discounts on bulk purchases. With cautiously operating manufacturing units, demand for Dimethylacetamide in the downstream solvent industry stays feeble. There was weak price support with low buying activities in the region. Ease in energy values and low production rate among the undertakings bring about oversupplies constraining the makers from clearing their current inventories. Trading of Dimethylacetamide in the European region was weak, and declining freight charges made the import prices bearish. Towards the end of the quarter, the price quotations for the end user industries declined, and the suppliers remained skeptical about declining the price further due to declining profit margin and revenue.
