Emerging demand from the end-user industries strengthens the global Polymethyl Methacrylate Market

Polymethyl Methacrylate (PMMA) prices have risen persistently in the global market because of the rising demand from the downstream pharmaceutical sector. The high Crude oil value caused by the Russian aggression in Ukraine, which affected the raw material Methyl Methacrylate (MMA) cost, has put upward pressure on PMMA prices.

Soaring demand for protective face shields from the downstream pharmaceutical sector has weighed on the Polymethyl Methacrylate costs in China. China’s zero-tolerance Covid policies and shutdown in certain affected cities resulted in deteriorating production activities. Shanghai, China’s largest metropolis, faces a lockdown situation, leading to the production disruptions in multiple industries, impacting the pricing of many commodities, including PMMA.

On the other hand, hampered supply chains in Shanghai continued to pressurize manufacturers and production activities, owing to tightened restriction on trucks and labour shortage. Furthermore, the difficulties in offloading and onloading activities resulted in low inventory level in the domestic market.

According to the ChemAnalyst database, prices of Poly Methyl Methacrylate in China increased by 4.5% on a month-on-month basis during April.

Similarly, the European market sentiments showcased an increasing pattern in the Polymethyl Methacrylate cost on account of surging feedstock MMA prices. Additionally, many key players are cutting back their production due to the extended energy crisis in the European region. Apart from the production activities, the war between Russia and Ukraine has impacted the trade routes and freight charges, thereby resulting in a supply crunch in the European market. Furthermore, the sanction on Russian companies issued by the United States crushed several entities and further crippled an already weak supply chain. According to the ChemAnalyst database, Prices of Polymethyl Methacrylate in Germany were inclined by 1% on a month-on-month basis during April. 

As per ChemAnalyst, “Prices of Polymethyl Methacrylate are projected to climb during the upcoming weeks due to the rise in demand from the pharmaceutical sector. Furthermore, trade activities might further impact the supply chain, leading to low availability of the product, causing the prices to soar in the worldwide market. In addition, high feedstock Methyl Methacrylate prices may affect the prices of PMMA’’.