For the Quarter Ending December 2022
North America
The Methyl N-Propyl Ketone (MPK) market in the United States experienced a downward trend during the fourth quarter of 2022. In this quarter, the global market remained stagnant, and the product was stockpiled as a result of declining orders from the overseas and US regional markets. Inflation and high-interest rates in the United States are to blame for the low demand in the downstream paints & coatings and construction industries. According to market participants, the majority of purchases were based on demand. The approaching holiday in the final month of Q4 further reduced buyer demand and orders. In addition, domestic consumers tended to wait and buy in the face of inflation.
APAC
The price of Methyl N Propyl Ketone (MPK) decreased in the Asia market during the fourth quarter of 2022. The downstream industry showed little interest, and the abundant stockpile of the item in the field decreased the cost of MPK. Due to poor market sentiment, the end-use paints and coatings sector demonstrated MPK's weak demand in the Asian market. During the fourth quarter, China's government imposed a zero COVID restriction, affecting domestic and international market trading. In order to clear space on the market for the material, traders sold the product at an offer price due by the end of the year.
Europe
During the fourth quarter of 2022, the price trend of Methyl N Propyl Ketone (MPK) decreased in Europe as a result of negative market sentiment. End-use industries saw little demand due to high inflation and a declining buying trend in the European market. Due to the ample gas storage in major EU nations, the price of natural gas on the market decreased and lowered production costs. Several businesses slowed down their production rates due to low demand from end-use industries, but the product was readily available. Producers offered to destock their products at a low price at the end of the quarter as the holidays got closer.
For the Quarter Ending September 2022
North America
The price of Methyl N Propyl Ketone witnessed a decline in the North American region throughout the Q3 of 2022. The weak demand from the downstream industries like coating and other key driving sectors further reduced the price of Methyl N Propyl Ketone. The high rate of inflation has dampened demand from the MPK industries. At the same time, orders from the overseas market remained weak due to consumer sentiment uncertainty. The supply chain was disrupted because some US ports have congested and delayed delivering the product.
APAC
Methyl N Propyl Ketone's price gradually decreased in the Asian market throughout Q3 2022. The weak demand from the downstream solvent industries and cheap imported cargo have declined the price of MPK in the region. The inventory level from the exporting countries was high, and a sufficient supply of the product also contributed negative price trend in the market. The traders have quoted lower prices because the buying trend decreased from end users in the market. The cost of Methyl N Propyl Ketone settled at USD 6893/MT on a CFR JNPT basis during the quarter ending of 2022.
Europe
During the third quarter of 2022, the price of Methyl N Propyl Ketone observed a downward trajectory in the European market. The weak demand from the coating industries and poor customer purchasing orders decreased the price of the MPK in Europe. Due to high natural gas prices in the Eurozone, customers were reluctant to buy a product in the region. The overall markets in Europe were in weaker sentiments, and several circumstances disrupted trading activities. Additionally, the manufacturing PMI decreased month over month during the third quarter, supporting this pricing dynamics in the country.
For the Quarter Ending June 2022
North America
The price of Methyl n Propyl ketone increased in the North American region during the second quarter of 2022, owing to the limited supply of raw materials in the regional market. The high demand from downstream industries, automotive, coating industry, and other sectors increased the price of Methyl propyl ketone. The cost pressure from upstream raw materials accelerated, and the price of the downstream derivatives climbed in the region. The United States is one of the exporters of Methyl N Propyl Ketone to the Asian region. The production cost soared due to increased crude and natural gas prices.
Asia Pacific
In the second quarter of 2022, the price of Methyl Propyl Ketone witnessed an upward trajectory throughout the quarter. The upstream calcium acetate price increased in April, suddenly fell in May, and then rose again in June. The upstream price fluctuated in the Indian market, ultimately impacted on the downstream Methyl N Propyl Ketone. The moderate demand from the end-user industries like paints, coatings, and solvents supports the price rise in the regional market. The percentage of Methyl N Propyl Ketone in India has been recorded at an inclination of 1.6% on a CFR JNPT basis during the second quarter.
Europe
The market value of Methyl N Propyl ketone in Europe has witnessed an upward trajectory throughout the second quarter of2022. The feedstock supply in the European market was constrained, leading to the upstream price increase; consequently, Methyl n Propyl ketone rose. The supply restriction and the energy prices soared due to the war in Eastern Europe. The high freight charges and growing energy cost increased the product's price. The cost pressure from upstream raw materials strengthened. The insufficient supply and demand from the downstream industries like paints and coating, automotive, and other key driving sectors prompted the product's price in the regional market.
