For the Quarter Ending June 2022
North America
During the Second Quarter of 2022, Polymethyl methacrylate (PMMA) prices in North America showed an upward trend due to the rising raw material Methyl Methacrylate cost. In addition, the stressful tension between Russia and Ukraine lifted the natural gas and fuel prices, proportionally affecting the market sentiments of Poly Methyl Methacrylate (PMMA)across the regional market. Additionally, the rising temperature in the US has increased energy demand and consumption. These facets have increased the production cost of Polymethyl Methacrylate, consequently showcasing its impact on the product. Furthermore, the continuous demand from automotive, Electronic, and energy industries became the driving force for the North American Poly Methyl Methacrylate market. As a ripple effect, the prices of Polymethyl Methacrylate General Purpose DEL Texas (USA) were assessed at USD 3335/MT with an inclination of 1.1% during June 2022.
Asia Pacific
Prices of Polymethyl Methacrylate showed a mixed sentiment in the Asia-Pacific region during the Second quarter of 2022. In April, prices of Polymethyl Methacrylate (PMMA) witnessed an upward trajectory backed by the rising cost of the raw material Methyl Methacrylate. Furthermore, due to the tight supply of Methyl Methacrylate (MMA), several Polymethyl Methacrylate producers have raised their manufacturing costs to maintain their profit margins. In addition, China’s manufacturing sector improved in May as factories resumed production. However, demand from the downstream in the automotive and construction sectors has remained stable to weak. Although, in the last month of the quarter, the prices of Polymethyl Methacrylate in China dropped due to the dwindling demand from the downstream sectors. Overall, the inventory level has been mostly lifted, which has coincided with supply disruption. Prices of Polymethyl Methacrylate CFR Shanghai were settled at USD 2300/MT with a decline of 2.1%, compared with the previous quarter.
Europe
During the second quarter of 2022, Polymethyl Methacrylate has witnessed mixed sentiments in Europe. In addition, Due to lower production rates, Poly Methyl Methacrylate prices (PMMA) in the European market climbed during April. In addition, production and operating rates were constrained as upstream energy costs shot up. Logistical issues coupled with a scarcity of suppliers drove higher Polymethyl Methacrylate costs across the regional market. Furthermore, growing demand and favorable buying sentiments in the downstream Automotive Energy and Electronic sectors have maintained an upward trend. However, in the last quarter month, prices of Polymethyl Methacrylate (PMMA) have declined, backed by ample availability and 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 Polymethyl Methacrylate FD Hamburg in Germany were settled at USD 4320/MT, with a drop of 2.0% throughout June.
For the Quarter Ending March 2022
North America
During the first quarter of 2022, Polymethyl methacrylate prices in North America showed mixed sentiments. Due to the high feedstock Methyl Methacrylate price, PMMA prices increased in January. Increased demand from downstream industries, including construction, electronics, and energy, pushed prices upwards. The low production rate caused a lack of inventories in the regional market that failed to meet domestic requirements. Although, in last month of the quarter, the prices of PMMA in the United States weakened. The decline in the prices was attributed to the plentiful supplies and weak trading activities, which revived in March 2022. Along with the gloomy market sentiment, downstream demand appeared to be bearish. Polymethyl Methacrylate General Purpose DEL Texas (USA) prices were USD 3200/MT during March 2022.
Asia Pacific
Prices of Polymethyl Methacrylate showed an upward trajectory in the Asia-Pacific region during the first quarter of 2022, owing to the surge in the feedstock prices of Methyl Methacrylate. South Korea is a significant exporter and faced a shortage in the domestic market due to the resurgence of covid cases towards the end of the quarter. Consequently, production rates and trade activities were hampered amidst the repercussions of covid and the Russia Ukraine war. Therefore, high freight charges disrupted supply chains, resulting in a supply shortfall in the region. Polymethyl Methacrylate General Purpose CFR JNPT (India) prices were assessed at 2436/MT during March. Overall, The PMMA market outlook remained positive in Q1.
Europe
In contrast to the last quarter of 2021, Polymethyl Methacrylate showed positive market sentiments in Europe during Q1 2022. Prices climbed on the back of the crippling availability of a product in the region. The surge in feedstock prices pressurized Methyl Methacrylate production, which proportionally impacted the PMMA prices. Moreover, the energy crisis in Europe amidst the geopolitical tension between Russia- and Ukraine hindered the production activities and operating rates. Polymethyl Methacrylate General Purpose Grade FD Hamburg prices were settled around USD 4290 /MT during March. Furthermore, supply shortage and strong demand across the construction, electronics, and energy resulted in the high price of PMMA in the region.
For the Quarter Ending December 2021
During the 4th quarter, the PMMA market in North America was observed to be bearish amid weak trading activities and port congestions. At the end of the Q4, the prices were prices dipped under USD 3000 per MT on FOB basis after remarkable Q2 and Q3. In America, it’s heard MCM Lucite 177kpta MMA plant in Memphis, TX, planned to shut down in November due to the plant maintenance. Tight MMA supply on the back of Roehm 160kpta MMA plant in Fortier, Louisiana, declared force majeure in Q4 and a lack of import owing to the transportation restriction. However, market demand was generally tepid as the market remained bearish approaching year-end. MMA supply appears sufficient and MMA price became stable.
After witnessing prolonged dullness in Indian market, in Q4, PMMA prices started improving month over month, backed by rebound in industrial activities in the region. It was observed that, imports from Middle East were hampered due to crippling availability of shipping container, which led to a steep rise in freight cost. The price surge is in response to unprecedented and escalating pressure from energy prices. Mitsubishi Chemical Mitsubishi Chemical Methacrylates (MCM) group Lucite 180kpta MMA plant in Shanghai, advanced the shut down for 21 days maintenance to 3rd of November as affected by the energy consumption dual control policy. Demand showed no signs of slowing down in most market segments, particularly in construction, electronics, and packaging because of the upcoming festive season stocking. With the quarter end, the prices of PMMA in India were $2762/ton in December 2021 compared with $2697/ton with the inclination of 2.41%.
In Q4, the market demand was appeared to be weak in downstream coating and automotive industry. Most MMA plants finished annual turnaround and run well, nonetheless, Roehm was under force majeure and another 95kpta MMA plant in Wesseling, was still under sales control. However, the regional suppliers faced the dropped inventories and limited production affected by the tight supply of natural gas and oil. It’s heard MMA prices in Europe increased by €80/MT FOB in Q4 2021.
