For the Quarter Ending June 2022
North America
The Methyl Methacrylate market has been termed firm in the North American region owing to intense cost pressure from upstream feedstocks and stable demand from downstream industries. On the supply side, the Methyl Methacrylate market in the US remains constrained. As a result, the supply remains disrupted. Also, low operating rates, maintenance shutdowns, and the tight supply of raw material hydrogen cyanide (HCN) have impacted the prices of Methyl Methacrylate. Furthermore, high energy costs and Natural gas prices further put inflationary pressure on the Methyl Methacrylate market. On-demand side, consumption from the construction and automotive sectors remained stable.
Asia- Pacific
In China, the Methyl Methacrylate market showed an upward trajectory during the second quarter of 2022 due to the limited availability of the product in the domestic market. In addition, escalating crude oil prices supported by geopolitical tensions between Russia and Ukraine impacted raw material prices, especially Methanol and Methacrylic acid, which put pressure on MMA prices. In addition, end-user demand for PMMA production has increased, resulting in high MMA prices in the domestic market. On the supply side, the war has created a severe problem in the supply chain. China's strict measures to control the Covid-19 epidemic caused logistical disruptions, resulting in supply shortages for the Chinese market. However, the market sentiment of Methyl Methacrylate showed stagnancy in May, backed by the demand stable due to ample supply. Additionally, customers were hesitant to stock up in late April ahead of Labour Day. Although, prices recovered in June amid rising costs of raw materials and improved demand from downstream industries. In June, the price of CFR Methyl Methacrylate settled at USD1980/ MT.
Europe
During the second quarter of 2022, Methyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Methyl Methacrylate prices in the European market climbed during April. In addition, production and operating rates were restricted as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Methyl Methacrylate costs across the regional market. Furthermore, rising demand and favorable buying sentiments in the downstream construction and for the fabrication of Polymethyl Methacrylate have maintained the upward trend. Although, in the last month of the quarter, Methyl Methacrylate prices have declined, backed by ample availability combined with fragile demand from the downstream automotive sectors. Furthermore, the rising raw material cost, energy prices, and supply disruption have resulted in the weak demand for the product, curtailing the manufacturing output growth in Europe. As a ripple effect, prices of Methyl Methacrylate dropped by 2.0% throughout June.
For the Quarter Ending June 2022
North America
The Methyl Methacrylate market has been termed firm in the North American region owing to intense cost pressure from upstream feedstocks and stable demand from downstream industries. On the supply side, the Methyl Methacrylate (MMA) market in the United States remains limited. As a result, the supply remains disrupted. Also, low operating rates, maintenance shutdowns, and the tight supply of raw material Hydrogen Cyanide (HCN) have impacted the prices of Methyl Methacrylate. Furthermore, high energy costs and Natural gas prices further put inflationary pressure on the Methyl Methacrylate market. On-demand side, consumption from the construction and automotive sectors remained stable. As a ripple effect, costs of Methyl Methacrylate FOB UGSC were assessed at around USD 2456/MT during June.
Asia- Pacific
In China, the Methyl Methacrylate market showed an upward trajectory during the second quarter of 2022 due to the limited availability of the product in the domestic market. In addition, escalating crude oil prices supported by geopolitical tensions between Russia and Ukraine impacted raw material prices, especially Methanol and Methacrylic acid, which put pressure on MMA prices. In addition, end-user demand for PMMA production has increased, resulting in high MMA prices in the domestic market. On the supply side, the war has created a severe problem in the supply chain. China's strict measures to control the Covid-19 epidemic caused logistical disruptions, resulting in supply shortages for the Chinese market. However, the market sentiment of Methyl Methacrylate showed stagnancy in May, backed by the demand stable due to ample supply. Additionally, customers were hesitant to stock up in late April ahead of Labour Day. Although, prices recovered in June amid rising costs of raw materials and improved demand from downstream industries. In June, the price of CFR Methyl Methacrylate settled at USD1980/ MT.
Europe
During the second quarter of 2022, Methyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Methyl Methacrylate prices in the European market climbed during April. In addition, production and operating speeds were restricted as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Methyl Methacrylate costs across the regional market. Furthermore, rising demand and favourable buying sentiments in the downstream construction and for the fabrication of Polymethyl Methacrylate have maintained the upward trend. Although, in the last month of the quarter, Methyl Methacrylate prices have declined, backed by ample availability combined with fragile demand from the downstream automotive sectors. Furthermore, the rising raw material cost, energy prices, and supply disruption have resulted in the weak demand for the product, curtailing the manufacturing output growth in Europe. As a ripple effect, prices of Methyl Methacrylate dropped by 2.0% throughout June.
In North America, Methyl Methacrylate (MMA) prices showcased an upward trajectory in Q1-2022. Increase in the demand from the downstream paint and coating sector as solvent has weighed on the cost of MMA. Firm prices of upstream Coal impacted feedstock Methanol values, creating an imbalance in market dynamics, and resulting in a supply chain disruption. In addition, manufacturers raised the cost of MMA production due to the continuous price inflation of raw materials. Furthermore, the restriction of significant businesses between Russia and the USA with the ongoing war crisis resulted in the high energy cost. In the USA, Prices of MMA were settled at USD 2330/MT FOB UGSC during March.
During the first quarter of 2022, Methyl Methacrylate prices in Asia-Pacific showed a seesawed trend. In India, costs of MMA showcased fluctuation in Q1. In the initial quarter of the month, the MMA prices increased on the back of the supply shortage and rising demand from the downstream paint industries. High feedstock prices, including Acetone and Ethylene, have weighed on the high pricing of MMA in the region. In addition, increased freight charges due to container shortage resulted in the supply shortfall. During the mid of the quarter, prices dropped significantly by 1%. The decline in the prices was attributed to higher availability and increased supplies in the domestic market, which kept MMA prices in the downward trend. The costs of Methyl Methacrylate CFR JNPT USD 2328/MT in March.
In contrast to the last quarter of 2021, Methyl Methacrylate showed positive sentiments in Europe during Q1 2022. MMA prices showed an uptrend on the back of the limited availability of the product in the region. High upstream coal prices due to the Russian invasion of Ukraine have impacted feedstock Methanol, which influenced the prices of MMA in the region. Furthermore, due to the extended energy crisis in the European region, certain production units reduced their running rates to safeguard their margins. Methyl Methacrylate General Purpose Grade FD Hamburg prices settled around USD 4090/MT during March.
