Depressing market demand and affected market economy slipped the market of Polymethyl Methacrylate in Asia

In North Asia, China Methyl Meth Acrylate market was observed to be uptrend and prices were observed in the range of $1901/ton-$2059/ton DDP against the backdrop of higher raw material cost and series of logistics restrictions amid Winter Olympics and Paralympic celebration in Beijing. Asia contract prices of Methyl Meth Acrylate for March-2022 were observed to be $1750/ton-$1830/ton and spot prices were observed to be hovering around $2000/ton-$2100/ton.

In Japan, with the increase in raw material prices and healthy market trading activities. However, Methyl Meth Acrylate offtakes from most customers in Methyl Meth Acrylate, cast sheets and emulsion segments remained weak. In South Korea, depressing Methyl Meth Acrylate prices squeezed the market resulted from weak Polymethyl Methacrylate demand, however raw material cost was on subsequential hike. Formosa Plastic Corp. 280KTPA Acrylonitrile plant in Mailiao planned shutdown between early Feb and early March synchronized with 98 KTPA plant shutdown for four weeks. On the Polymethyl Methacrylate (PMMA) side, downstream light emitting diode (LED) TELEVISION (tv) and General Purpose (GP) grade for automotive production lines remain bearish. In Southeast Asia, the supply was found to be sufficient as per the market demand. Most Acrylic sheet producer are suffering from sluggish demand for export as well as domestic market. In Thailand, market demand remained sideline before Songkran Water festival and acrylic sheet producers were observed under tremendous pressure of shrinking domestic market demand. In India, the domestic market appears to be strong whilst tight Methyl Meth Acrylate supply.

According to ChemAnalyst, the Methyl Meth Acrylate market is expected to remain strong this month amid healthy demand and surging production cost. Supply shortage and increase in consumption of the product can boost the prices. Downstream Acrylic sheets market is also likely to grow healthy with increase in consumption in automotive production lines. The demand for bulk purchases will increase which will pressurize the producers to meet the requirement from the consumer’s end.