For the Quarter Ending September 2024
North America
In the third quarter of 2024, the North American Methyl N-Amyl Ketone (MAK) market experienced significant price increases, particularly in the USA. This surge was driven by a combination of factors, including strong demand from key sectors such as paints and coatings. The heightened demand coincided with moderate to low supply levels, creating a supply-deficient scenario that further propelled prices upward. Throughout the quarter, market sentiment remained bullish, influenced by external disruptions like the hurricane season, which affected supply chains and contributed to the price escalation. Additionally, while specific plant shutdowns were not identified, they likely added to the supply constraints during this period.
In the USA, notable price changes were observed, with a 15% increase from the previous quarter. The first half of the quarter saw a 16% rise in prices compared to the second half, indicating a continuous upward trend. By the end of Q3, Methyl N-Amyl Ketone was priced at USD 4400 per metric ton (MT) FOB Louisiana. This consistent increase underscores the robust demand and constrained supply that characterized the market during this time.
Overall, the pricing environment for MAK in Q3 2024 exhibited a distinctly positive trajectory, driven by strong demand coupled with supply limitations and external disruptions. The interplay of these factors created a challenging yet opportunistic landscape for market participants, highlighting both the pressures and potential within the Methyl N-Amyl Ketone sector.
APAC
In the third quarter of 2024, the APAC region experienced a significant increase in Methyl N-Amyl Ketone (MAK) prices, driven by a combination of factors. Demand outstripped supply, propelled by strong growth in industries such as paint, coatings, and textiles. This imbalance, along with logistical challenges like port congestion, led to rising costs and limited availability. Additionally, global market trends and disruptions, including plant shutdowns, further intensified the situation, resulting in higher prices. India saw the most notable price changes, with a 10% increase from the previous quarter, reflecting the intense dynamics of the market.
The quarter also revealed a 1% price difference between the first and second halves, highlighting evolving pricing trends. Despite seasonal fluctuations and currency variations, the overall market sentiment remained bullish. The closing price for Methyl N-Amyl Ketone at the end of the quarter was recorded at USD 3350 per metric ton (MT) CFR JNPT in India. This pricing environment demonstrated a clear upward trajectory, emphasizing both the challenges and opportunities present within the market.
Overall, the significant surge in MAK prices illustrated how demand pressures and logistical issues can shape market dynamics. The interplay of these factors not only affected pricing but also highlighted the resilience of certain sectors amid ongoing global disruptions. As industries continue to recover and adapt, the outlook for Methyl N-Amyl Ketone remains positive, suggesting further developments in pricing trends moving forward.
Europe
In the third quarter of 2024, the European region experienced a significant increase in Methyl N-Amyl Ketone (MAK) prices, driven by a combination of factors. Strong demand from key industries, particularly paints and coatings, played a crucial role in this price surge. The demand was compounded by supply chain disruptions and logistical challenges, which limited availability and increased costs. As a result, the market sentiment remained bullish throughout the quarter, with external factors further exacerbating supply constraints.
The most notable price changes occurred in key markets within Europe, reflecting the intense dynamics at play. The pricing environment exhibited fluctuations, with a marked increase compared to previous quarters. Seasonal factors and economic indicators also influenced price movements, contributing to the overall bullish sentiment. By the end of the quarter, Methyl N-Amyl Ketone prices reached a significant level, highlighting the challenges faced by market participants amidst rising demand and constrained supply.
Overall, the pricing landscape for MAK in Europe demonstrated a clear upward trajectory during Q3 2024. The interplay of robust demand from essential sectors and ongoing logistical challenges underscored both the pressures and opportunities present in the market. As industries continue to adapt to these conditions, the outlook for Methyl N-Amyl Ketone remains positive, indicating potential for further price developments in the future.
For the Quarter Ending June 2024
North America
In Q2 2024, the Methyl N-Amyl Ketone (MAK) market in North America has demonstrated considerable dynamism, reflecting a significant appreciation in prices driven by various pivotal factors. The most notable influences include heightened market bids from the Asian region and moderate yet persistent demand from downstream sectors, particularly the paint and coating industries. This quarter has been characterized by an alignment of increased purchases and rising feedstock Ketone prices, which have collectively fostered an environment of competitive pricing. Export shipments have seen substantial interest, prompting distributors to maintain firm price levels despite market participants' expressed hesitation.
Focusing on the USA, which has experienced the most pronounced price changes, the overall trend has been bullish. This positive sentiment is bolstered by several key elements: an uptick in demand outpacing supply, surges in electricity prices, and robust demand from downstream markets. The price trajectory from the first to the second half of the quarter indicates a 4% increase, showcasing a steady climb. Additionally, the correlation between the rising costs of feedstock and the sustained demand has played a crucial role in this upward trend.
The latest quarter-ending price for MAK in the USA stands at USD 3,630/MT FOB Louisiana, highlighting a stable yet positive pricing environment. Despite the absence of reported plant shutdowns, the market has navigated through supply constraints and persistent demand pressures, underpinning the overall favourable pricing dynamics observed throughout Q2 2024. This period reflects a resilient market outlook amidst the broader economic landscape, affirming a consistent increase in MAK prices.
APAC
In Q2 2024, the Methyl N-Amyl Ketone (MAK) market in the APAC region experienced a notable increase in prices, primarily influenced by a confluence of supply constraints and robust demand from downstream sectors. The quarter was characterized by elevated trading activity and firm bids from suppliers, driven by heightened purchasing activities and disruptions in logistical chains. Upstream market dynamics, particularly in the Acetone sector, significantly contributed to the upward price movement, with constrained supply and increased production costs playing a pivotal role. Maintenance shutdowns at key production facilities further exacerbated the supply tightness, adding upward pressure on prices. In India, which saw the maximum price changes, the MAK market demonstrated strong bullish trends. Factors such as low supply levels, increased spot purchasing, and strategic bulk trading led to a significant price surge. Seasonal restocking activities and capacity expansions in existing plants supported this upward trajectory. Despite facing logistical and labour challenges, the Indian market sustained robust demand from the adhesive sector, which offset the decline in the paint and coating industry. The overall trend exhibited an 8% increase from the previous quarter in 2024, with a 3% price comparison between the first and second halves of the quarter, underscoring a consistent upward movement. The quarter concluded with a peak price of USD 3,752/MT of Methyl N-Amyl Ketone CFR JNPT in India, reflecting a positive pricing environment driven by resilient market fundamentals and strategic growth initiatives.
Europe
In Q2 2024, the methyl n-amyl ketone market in Europe experienced a notable downturn in prices, influenced by several key factors. Economic uncertainties, coupled with subdued demand from traditional sectors such as coatings and industrial solvents, played a significant role in this pricing decline. The reduction in natural gas prices substantially lowered production costs, further contributing to the downward pressure on market prices. Additionally, the market faced logistical challenges, exacerbated by public holidays that hindered transportation and collection volumes. These dynamics collectively fostered an environment of oversupply, with manufacturers struggling to balance production with declining demand. Germany, in particular, witnessed the most significant changes in methyl n-amyl ketone prices. The overall trend in Germany was characterized by a consistent decrease, driven by a surplus in supply and diminished demand from key industries like coatings and chemicals. Seasonality effects, such as reduced industrial activity during summer months, exacerbated the negative pricing trend. The correlation between decreased production costs and the abundance of product availability led to a pronounced price deflation. From the previous quarter in 2024, prices decreased further, underscoring a persistent negative sentiment in the market. Within the quarter, prices saw a slight dip between the first and second halves, indicating a continuous but moderate downward trend. Concluding the quarter, the pricing environment for methyl n-amyl ketone epitomized the negative pricing environment that has prevailed throughout Q2 2024.
For the Quarter Ending March 2024
North America
The first quarter of 2024 has been challenging for the Methyl N-Amyl Ketone (MAK) market in North America, with slow market offtakes and weak cost support. The overall trend has been negative, with prices experienced a decline compared to the same quarter last year, which recorded a 46% increase. The decrease in prices can be attributed to several factors, including reduced consumption from downstream industries and limited trading activities within the region.
In the USA, which has seen the maximum price changes, the market sentiment has been bearish. The supply of MAK has been high, with limited demand from the paint and coating industry and other downstream sectors. This has resulted in downward pressure on prices, as suppliers have been cautious about raising domestic prices. Additionally, the weak cost support from the Pentanol feedstock and a slowdown in the crude oil market have further contributed to the decline in prices.
Overall, the pricing environment for MAK in North America during the first quarter of 2024 has been negative, with prices declined compared to the same period last year. The market has been characterized by high supply, low demand, and limited trading activities. However, the stable price at the end of the quarter suggests some level of stability in the market.
APAC
The pricing environment for Methyl N-Amyl Ketone (MAK) in the APAC region during Q1 2024 has been largely negative, with the market experiencing a decline in prices. This can be attributed to several significant factors, including weak cost support from the feedstock Pentanol, which has led to a decrease in the production cost of MAK in the Indian market. Additionally, trading activities have slowed down, with suppliers hesitant to raise prices domestically due to limited demand from downstream enterprises and reduced trades from the USA. In India specifically, the pricing trend for MAK has been bearish, with prices decreasing throughout the quarter. This can be attributed to low demand from downstream sectors, despite growth in the Paint and coating industry and the Adhesive market. The market fundamentals have been sluggish, with sufficient inventory levels and limited trading volume in the region. Looking at the overall trends and seasonality, it is evident that the pricing environment for MAK in Q1 2024 has been negative. The market has experienced a decrease in prices compared to the same quarter last year, and there has been a decline in prices from the previous quarter in 2024. In conclusion, the pricing environment for MAK in Q1 2024 has been negative, with weak cost support, limited demand, and a decline in prices.
Europe
In Q1 2024, the pricing landscape for Methyl N-Amyl Ketone (MAK) in the European region has been negative, marked by a decline in prices. Various factors have influenced this trend throughout the quarter. Firstly, there has been a subdued demand from downstream industries such as Paint and Coating, as well as the Adhesive market, leading to reduced consumption of existing inventories. This subdued demand has fostered a bearish market sentiment, exerting downward pressure on prices. Additionally, the market has seen an ample supply of Methyl N-Amyl Ketone (MAK), with inventory levels proving adequate to meet the subdued demand. This surplus in supply has further contributed to the downward price trend observed during the quarter. In response to the market dynamics, industry participants adjusted by decreasing their ex-quotations squeezed their marginal profits, and provided tempting offers to the buyers. Simultaneously, purchasers opted for bulk procurement to secure sufficient inventory levels, aiming to sustain equilibrium between supply and demand for smooth supply chain operations. Consequently, the pricing landscape for Methyl N-Amyl Ketone (MAK) in the first quarter of 2024 exhibits a negative trajectory, marked by a descending price trend.
For the Quarter Ending December 2023
North America
A combination of the inexpensive support provided by the region's feedstock pentanol costs, MAK exports from the USA to India and other Asian markets remain. A decrease in consumer commerce combined with economic uncertainties caused a dip in MAK demand.
Low netbacks, falling production costs, and gloomy demand are causing significant companies' profit margins and revenue to plummet. Sluggish economies combined with a weak market trend led to a constant decline in operating rates in important downstream industries. Even while MAK producers were able to offset the difficulty of increasing inventory levels, the supply situation is still unstable, particularly given the downstream businesses' sluggish market offtakes. In Dec 2023, the price of MAK declined to USD 3100/ton FOB Louisiana.
Declining profit margins and revenue additionally affect downstream solvent and adhesive sectors. Due to the region's feeble market offtakes, the purchase operations were conducted on an immediate basis. MAK trading decreased in the US market as purchasers plunged relatively with limited offerings. The deals were not concluded well among the suppliers and buyers, prompting bearish market fundamentals.
Asia Pacific
In APAC region, plunging market purchasing activities and high inventory level remain the key factors for the declining price trajectory. Due to a lackluster business and unfavorable market outlook, suppliers were required to meet their intermediate needs, which resulted in a dismal demand. Because of the gloomy trade environment and struggling purchasing appetite, the downstream paint and coating industries continue to have low demand for MAK. Local pricing reductions and a downturn in the market for coatings and industrial applications were the main causes of the Industrial Solutions business's net sales loss from the same time last year. In India, the price of MAK in India declined to USD 3750/ton Ex-Mumbai. The pricing of Methyl N-Amyl Ketone (MAK) in major manufacturing units continues to stay at the lower spectrum, and this reduced cost has stimulated some demand. However, the supply within the region remains abundant. The increased production rates and economical operational expenses within manufacturing units have led to an oversupply of products. Imports of MAK from the USA to India are currently inactive, reflecting a subdued trade volume this quarter, with no additional demand for the product in the region.
Europe
Shrinking netback, plunging Petrochemical liquidity and economic uncertainty in the economy further pressurized the suppliers to conclude their market deals at low offers. On the supply side, product inventories increased sufficient supply of product in the domestic market. Ample exports of MAK from the region earlier resulted in product oversupplies. Profit margins and revenue among the significant manufacturing units shrank with limited demand and lackluster requirement from the end-users. Downstream industries operated their plant moderately with cautiously operating ventures. With rising production rates among the major manufacturing units, the region has suffered from product oversupplies which disrupted the market fundamentals. Inventories among the ventures increased, and traders were waiting for the price to drop further. The feeble market of MAK was driven by the downward pressure of numerous downstream customers due to ample inflows of cargos from the overseas market, and the skeptical economy viewpoint in Germany along with elevated interest rates. Supplies among the production units remain suppressed and lower purchasing activities remain the primary reason for such a slump in price trend
