For the Quarter Ending March 2025
North America
Throughout Q1 2025, the Methyl ethyl Ketone (MEK) market in North America displayed a mixed trend. January witnessed price declines due to weak downstream demand, high inventories, and weather-related disruptions in construction, which reduced consumption of coatings and adhesives. Competitive import prices from Asia and minimal feedstock cost support further weakened the market, keeping sentiment bearish.
In February, prices began to recover marginally as cold weather abated and new construction inquiries improved slightly. While overall demand remained subdued, lower freight costs and gradually depleting inventories supported a moderate price uptick. High interest rates and supply chain constraints continued to challenge broader procurement sentiment.
March saw further improvement in MEK pricing, bolstered by stable domestic supply, slightly stronger construction data, and increased housing starts. However, weaker forward indicators like falling building permits and completions, alongside global oversupply and intensified export competition, limited the extent of gains. Buyers remained cautious, prioritizing short-term procurement amid ongoing tariff uncertainties and balanced supply. MEK prices in the U.S. ended the quarter at USD 1,400/MT CFR Texas.
APAC
Throughout Q1 2025, the MEK market in China exhibited a mixed trend. In January, prices rose on the back of strong export demand, high operating rates, and tight domestic supply. Robust activity in the automotive and industrial coatings sectors, coupled with pre-Lunar New Year stocking, supported this upward momentum. However, by February, the market turned bearish. Weak demand from downstream coatings and adhesives, combined with the return of previously paused production post-holiday, increased supply pressures. Oversupply from new capacities and reduced procurement led to a sharp 4.5% price drop by month-end. In March, the downtrend persisted as construction sector slowdown and increased export competition from Japan pushed prices lower. Capacity expansions, including Huizhou Yuxin and Anhui Zhonghuifa’s facilities, deepened oversupply. Ramadan-related slowdowns in Asian markets and weaker export performance further hindered recovery. With weak demand and mounting inventory levels, Chinese MEK prices faced consistent downward pressure following January’s high. MEK prices in China ended the quarter at USD 1,035/MT FOB Qingdao.
Europe
Throughout Q1 2025, the MEK market in Europe exhibited a mixed trend. January began with price declines, driven by weak downstream demand from coatings and adhesives, low feedstock butanol prices, and seasonally reduced industrial activity. Amid heightened competition from Asian imports and persistent energy cost pressures, domestic producers cut production and focused on exports. However, market dynamics shifted in February as prices rose steadily, supported by higher energy expenses, stronger cost support from butanol, and gradual recovery in sectors like office real estate. Rising new orders in coatings and adhesives offered moderate support, although trade uncertainties—particularly a proposed 25% U.S. tariff on European chemicals—kept sentiment cautious. In March, prices rose slightly again, supported by tight domestic supply and firmer cost conditions, but broader eurozone construction and manufacturing weakness capped gains. While the Dutch office sector recorded strong growth, weak automotive sales, civil construction decline, and tariff threats kept bulk procurement low. MEK prices in the Netherlands closed the quarter at USD 1,480/MT FD Rotterdam.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American MEK market experienced a consistent decline. October saw prices continue downward due to weak demand and increased Asian competition. Improving supply and decreasing import prices, influenced by lower freight costs, further pressured prices. Reduced new orders contributed to subdued market conditions.
September's U.S. manufacturing downturn, with falling production, exacerbated the situation. Weak MEK demand persisted due to reduced consumption in downstream sectors, including paints, coatings, adhesives, and construction. By late October, prices had declined due to reduced import costs. In November, prices continued to fall, influenced by weak cost support, import pressure, and lackluster downstream demand. Increased global MEK supply following Golden Week in China furthered the supply-demand imbalance.
In December, prices continued to decline due to import pressure and weak domestic demand. While seasonal shipping activity increased, high inventories and cautious procurement suppressed market sentiment. Economic challenges, including high mortgage rates and housing market disruptions, hindered recovery. In Q4 2024, the North American MEK market witnessed a significant declining trend, culminating in a quarter-ending price of USD 1370/MT CFR Texas, reflecting weak demand, ample supply, and decreasing production costs.
APAC
Throughout Q4 2024, the Methyl Ethyl Ketone (MEK) market in the Asia-Pacific (APAC) region experienced mixed price trends. Prices stabilized in October as the market attempted to recover from months of declines, but weak demand and oversupply persisted. In November, prices declined further due to subdued downstream activity in paints, coatings, and adhesives, as well as sluggish construction activities. However, in December, prices rebounded, driven by strong export demand, and tightening supply. By November, the market saw a price drop, as post-Golden Week restocking faded, and supply increased while demand stayed weak. High inventory levels and conservative purchasing strategies among end-users further contributed to the decline.
December marked a significant improvement in MEK prices. Strong export activity to key trading partners such as South Korea, India and Indonesia bolstered market sentiment. Increased pre-Lunar New Year stocking and competitive pricing in China attracted international buyers, absorbing domestic output and tightening local supply. By the end of the quarter, MEK prices in China settled at USD 1,073/MT FOB Qingdao, reflecting a bullish sentiment driven by robust exports and gradual downstream recovery.
Europe
In Q4 2024, the European Methyl Ethyl Ketone (MEK) market experienced a pronounced downward price trend. This decline stemmed from a combination of weakening demand, increased supply, and falling feedstock costs, further compounded by a slowdown in the construction sector. October began with some price stability due to demand from the Dutch paint and coatings industry, but prices soon began to fall as supply improved and demand softened. This downward momentum continued into November, exacerbated by high inventory levels and reduced demand from key importing regions. Feedstock price drops further lowered MEK production costs, adding to the downward pressure. December saw a brief price stabilization before further declines, driven by persistent weak demand, limited feedstock support, and competition from Asian imports. The eurozone’s economic contraction and reduced construction output further dampened MEK demand. As the year concluded, producers offered discounts to manage excess inventories. In Q4 2024, MEK pricing landscape in Europe witnessed a significant downward trend, culminating in a quarter-ending price of USD 1415/MT FD Rotterdam, reflecting weak demand, ample supply, and decreasing production costs.
For the Quarter Ending September 2024
North America
In Q3 2024, the Methyl Ethyl Ketone (MEK) market in North America witnessed a substantial increase in prices, with notable factors driving this upward trend. Various elements contributed to this surge, including robust demand from downstream industries, limited supply availability, and escalating production costs. The heightened procurement activities ahead of the upcoming holiday season bolstered market dynamics, while lower inventory levels exerted upward pressure on prices.
Additionally, high feedstock prices and energy costs further pushed MEK prices upwards. In the USA specifically, the market experienced the most significant price changes, with a 26% increase from the same quarter last year. The quarter-on-quarter increase of 5.8% underscored the consistent upward trajectory of prices. Moreover, the price comparison between the first and second half of the quarter also saw a significant rise, reflecting the strengthening pricing environment.
Ending the quarter, the price for MEK in the USA was recorded at USD 1569/MT CFR Texas, exhibited a consistent positive sentiment characterized by robust demand, supply constraints, and production challenges.
APAC
In Q3 2024, the methyl ethyl ketone (MEK) market displayed a mixed trend. Compared to the same quarter in 2023, prices saw a 9.7% decline, reflecting weak demand and reduced cost support from feedstock butanol, which lowered production costs. However, compared to Q2 2024, there was a modest recovery, with prices increasing by 3.9%, indicating some stabilization in the market. Despite this, overall demand remained sluggish, particularly from the paints and coatings sectors, which impacted MEK consumption. Factors influencing these price declines included weak demand from downstream sectors, such as paint and coating, and high inventory levels, exerting downward pressure on prices. Seasonal factors, like heavy rainfall impacting construction activities, further dampened demand, contributing to the negative sentiment in the market. Japan, experiencing the most significant price changes, saw a significant shift between the first and second half of the quarter, emphasizing the deteriorating pricing environment. Ending the quarter, the price for MEK in the Japan was recorded at USD 1068/MT FOB Osaka.
Europe
In Q3 2024, the Methyl Ethyl Ketone (MEK) pricing landscape in Europe witnessed a notable uptrend, driven by a confluence of factors that shaped market dynamics. Tightening supply conditions across the region, compounded by logistical challenges and recent flooding in central and eastern Europe, exerted upward pressure on prices. As the market transitioned from the holiday season, procurement activities surged, fueling anticipation for heightened market activity post-summer. Low stock levels added to the price momentum, while disruptions in the distribution network due to flooding kept energy firms on alert, further impacting supply chains. Netherlands, experiencing the most significant price changes, reflected the overall trend in Europe. The quarter showcased a 31.8% increase from the same period last year, underlining the substantial price escalation. Moreover, the 1% increase from the previous quarter. Culminating in the latest quarter-ending price of USD 1693/MT of MEK FD Rotterdam, the pricing environment in the region exhibited a consistent positive sentiment characterized by robust demand, supply constraints, and production challenges.
For the Quarter Ending June 2024
North America
In Q2 2024, the Methyl Ethyl Ketone (MEK) market in North America experienced a pronounced upward trajectory in prices, primarily driven by several converging factors. A notable surge in upstream crude oil prices, influenced by geopolitical tensions and supply disruptions, significantly elevated MEK production costs. Concurrently, a robust demand from the downstream paint and coating industries, particularly within the construction and automotive sectors, compounded the upward pressure on prices.
Seasonal procurement behaviors also played a critical role, with heightened activity observed as industries ramped up for summer operations. Inventory management strategies further contributed to the rising prices, as market participants anticipated continued demand growth, opting to secure supplies in advance.
Focusing on the USA, which witnessed the most substantial price shifts, the MEK market mirrored global trends but with amplified effects. A striking 5.1% increase from the same quarter last year underscored a persistent bullish sentiment, driven by steady economic recovery and infrastructural investments. However, contrasted against the previous quarter in 2024, there was a 7% decrease, indicative of periodic market corrections amidst the broader upward trend. Ultimately, the quarter concluded with MEK prices at USD 1451/MT CFR Texas, reflecting the complex interplay of driving forces.
APAC
In Q2 2024, the Methyl Ethyl Ketone (MEK) market in the APAC region faced a tumultuous period marked by notable price fluctuations. This quarter was heavily influenced by several key factors, including supply-demand imbalances, feedstock cost dynamics, and geopolitical tensions. The supply chain disruptions, driven by maintenance shutdowns and adverse weather conditions, significantly tightened the market. Concurrently, heightened procurement activities, coupled with escalating crude oil prices, further exacerbated production costs, applying additional upward pressure on MEK prices. Despite these adversities, downstream demand from sectors such as construction and automotive industries remained consistent, providing a semblance of stability to the market. Focusing on Japan, the region experienced the most pronounced price volatility due to these aggregated factors. The overall trend in Japan exhibited a bearish sentiment, exacerbated by subdued demand and reduced manufacturing output. Seasonality played a pivotal role, with lower-than-anticipated activity in the construction sector during the hotter months. The pricing environment for MEK in Japan reflected a stark 12.3% decline compared to the same quarter last year. Additionally, prices witnessed a 17.3% drop from the previous quarter of 2024, reflecting ongoing market softness. Overall, the pricing environment for MEK in the APAC region during Q2 2024 has been predominantly negative, driven by a confluence of supply chain disruptions and subdued demand, despite consistent downstream consumption. Finally, the quarter-ending price for methyl ethyl ketone in Japan was recorded at USD 1003/MT FOB Osaka.
Europe
In Q2 2024, the Methyl Ethyl Ketone (MEK) market in Europe experienced a distinctly negative pricing environment, with numerous factors contributing to a notable decrease in market prices. The primary influencers of this downturn included reduced costs of feedstock butanol and energy prices, which exerted substantial downward pressure on MEK prices. Normalization of supply conditions, post the lifting of force majeure by a major manufacturer on oxo-alcohols, led to a stability in supply in the market, further depressing prices. Weak demand from the downstream paint, coating and plasticizer industry coupled with sluggish procurement activities, as buyers anticipated further declines, exacerbated the bearish sentiment. The Netherlands observed significant price fluctuations within this quarter. The overall trend revealed a pronounced correlation between market supply dynamics and seasonal demand patterns, which typically improve in summer but remained suppressed this year. Comparing trends, the price of MEK in this quarter decreased by 6.1% from the previous quarter. Concluding the quarter, the price of MEK in the Netherlands stood at USD 1536/MT FD Rotterdam. This persistent decline throughout Q2 2024 indicates a predominantly negative pricing environment, influenced by oversupply, reduced feedstock costs, and weakened downstream demand.
