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For the Quarter Ending March

North America

In the first quarter of , the Acrylic Acid market in North America experienced positive growth. The downstream Paint and Coating sectors experienced an increase in their demand which led to the increased consumption rate of the inventory levels. The increase in the production cost of the commodity was due to the increase in the prices of the upstream Propylene and Crude Oil markets.

Therefore, an incline in the trade inflows from the US market to the Mexican market was made to meet the rising demand from the downstream Paint and Coating sectors and ultimately followed the trend of the product in the US market. Based on the results of the National Survey of Construction Companies (ENEC) of the National Institute of Statistics and Geography (INEGI), construction related to transportation and urbanization dropped 5.9% monthly, after rising by 4.5% in December.

The bullishness in the market situation provided market players an opportunity to enhance their marginal profits by raising their ex-quotations. This surge indicated a significant movement of goods within these markets during the period. With market conditions favoring Acrylic Acid, purchasers chose to procure large quantities to meet the escalating demand from downstream Paint and Coating sectors.

APAC

In the first quarter of , the Acrylic Acid market in the APAC region presented a varied landscape. A notable influence was seen from the downstream Paint and Coating sector, which significantly affected product pricing. Although the demand from this sector was low, it resulted in sufficient inventories, which in turn threatened to lower prices. However, an increase in Paint and Coating demand could spark a rise in prices, making it unpredictable. The fluctuations in upstream prices of Crude Oil and Propylene also contributed to the pricing of Acrylic Acid. Japan notably experienced a -11% price decrease from the previous quarter. Nevertheless, the market remained buoyed by adequate supplies to cater to the downstream Construction sector, thereby ensuring smooth supply chain operations.

It is important to note that the Bank of Japan's recent decision to raise its benchmark interest rate for the first time in 17 years also played a pivotal role in market dynamics. By the end of Q1, a slight uptick in Acrylic Acid prices was observed, primarily attributed to increased demand from the downstream Paint and Coating sectors, which outstripped the existing inventories. To address this surge, production rates were elevated, facilitating heightened trading activities both domestically among leading manufacturing units and in international markets.

Europe

The first quarter of in the European region saw multiple significant factors that shaped the Acrylic Acid market. Market conditions, supply-demand dynamics, and fluctuations in raw material prices notably influenced pricing trends. The demand stemming from downstream sectors, especially paint and coatings, was significant in shaping the market. France observed considerable price changes for Acrylic Acid due to heightened demand from both the Construction and Paint and Coating sectors, alongside supply chain disruptions stemming from ongoing farmer protests. This tight supply environment led to an increase in pricing in France. An analysis of the price trends during this quarter indicated an upward trajectory with slight seasonality effects. In conclusion, the Acrylic Acid market in Europe during this quarter was significantly influenced by supply-demand dynamics, raw material price fluctuations, and supply chain disruptions, highlighting France's experience with increased demand coupled with disruption leading to price hikes.

MEA

During the first quarter of , the MEA region faced challenges in the Acrylic Acid market as the demand from downstream industries, particularly the Paint and Coating sector, remained subdued. This led to diminishing consumption rates and an accumulation of inventories. An oversupply situation in the market resulted in a supply-demand imbalance. In response, companies sought to reduce prices to invigorate demand and maintain competitive positioning. Saudi Arabia saw notable price fluctuation in Acrylic Acid, closely mirroring the overall market trends. Comparatively, the Acrylic Acid market in Saudi Arabia showed no significant price change in relation to the same quarter of the prior year. However, there was a noteworthy percentage increase compared to the previous quarter.

South America

In the first quarter of , Acrylic Acid prices followed an upward trend. The commodity exhibited a slight price increase, which was further fueled by rising Propylene feedstock prices, intensifying production costs. Delayed supplies owing to ongoing drought conditions and restrictions in the Panama Canal resulted in cargo rerouting to Cape Horn, affecting supply chain efficiencies and driving prices higher. In March, Panamanian officials tightened transit and draft restrictions at the canal due to drought, resulting in a decreasing number of daily transits. These navigation restrictions shifted global shipping routes, compelling shipowners to navigate around the Panama Canal, contributing to the price elevation of Acrylic Acid, alongside growing demand from downstream Paint and Coating sectors. Moreover, water levels in Panama’s Gatun Lake remained steady, offering some positive outlook, significantly aiding in the maintenance of supply conditions heading into March.

For the Quarter Ending December

North America

Acrylic Acid prices in the North American sector witnessed influences from various factors during the fourth quarter of (October to December). The market saw a bullish trend driven by strong demand from downstream Paints and Coatings enterprises, resulting in insufficient inventories. Subsequently, suppliers responded by increasing prices to enhance profit margins. Price hikes in Propylene, the critical raw material for Acrylic Acid production, coupled with increased transportation costs further enhanced market prices. In Mexico, the Acrylic Acid price in CFR-Manzanillo reported a dramatic rise of 6.02% during Q4 . This surge primarily stemmed from higher downstream sector demand and escalating Propylene prices, compounded by the depreciation of the Mexican Peso against the US Dollar. Despite the price fluctuations, no significant plant shutdowns occurred during the quarter. Summarizing the price trends, there was an overall increase in Acrylic Acid prices across both FD-Texas and CFR-Manzanillo markets.

APAC

The Acrylic Acid market in the APAC region observed a bearish trend in Q4 due to a balanced supply-demand scenario. Sufficient inventory levels limited the utilization of stocks, leading to a weakening price trend. A notable event was the plant shutdown by China National Offshore Oil Corporation, resulting in a significant decline in production capacity. Japan noted a 3.13% drop in the Acrylic Acid price trend compared to the previous quarter, reflecting operational challenges. In comparison, the price trend demonstrated a negative correlation of -7% between the first and second halves of the quarter. The price differences indicated a negative correlation of 39% when equated with the same quarter of the previous year.

MEA

The MEA Acrylic Acid market during Q4 encountered various factors influencing prices, characterized by a bearish landscape impacted by weak downstream demand, particularly in the paints and coatings sector. Prices consequently dropped across the region, alongside high supply conditions of both Acrylic Acid and its feedstock, Propylene. There were notable declines in Saudi Arabian prices attributed to high local supply levels alongside slow trading activity among significant manufacturers, culminating in a substantial decrease when compared with the previous quarter. The market reported a 44% reduction compared to the same quarter last year with no plant shutdowns affecting supply conditions.

South America

The acrylic acid price dynamics in South America for Q4 of were driven by numerous factors, predominantly in Brazil, where adverse weather conditions like severe thunderstorms disrupted supplies, leading to low inventory levels. Conversely, the upstream Propylene market saw price increases, contributing to heightened Acrylic Acid prices. In Brazil, the end-quarter price moved to USD /MT (CFR-Santos), indicating a 6% increase from the preceding quarter. Despite the fluctuating supply conditions, the market witnessed stronger demand from downstream Paints and Coating industries, consolidating price adjustments.

Europe

The European Acrylic Acid market during Q4 displayed bullish price tendencies, largely influenced by the rising consumption of existing inventories amid a steady increase in downstream demand. The market trends indicated that the resultant pressures were not sufficiently eased by available inventories, consequently elevating trading activity alongside production rates. Additionally, Propylene prices surged, bolstering the price trend of Acrylic Acid. France exhibited the most considerable fluctuations, registering an incline of 7.29% against the previous quarter due to increased demand coupled with limited supply conditions stemming from supply chain disruptions. The overall summary points to an upward trajectory in the Acrylic Acid prices across Europe throughout Q4, driven by solid demand, restricted supply, and burgeoning production costs.

For the Quarter Ending September

North America

The acrylic acid prices in Q3 of declined within the North American landscape, particularly in Mexico where the first half of the quarter saw sharp falls in prices due to oversupply from the US market. Freight charges diminished for shipments originating from Mexico towards various East Asian destinations, exacerbating the unfavorable supply chain market conditions due to plummeting values. The downstream adhesives and rubber industry also faced adverse circumstances, affecting market valuations. However, the second half of the quarter observed a rebound as this segment's demand surged, prompting manufacturers to ramp up consumptions and instigate increased production rates alongside heightened trading activity.

APAC

Acrylic Acid markets in Asia during Q3 displayed decreased pricing, particularly in Japan, where prices dipped significantly to USD 979/MT (FOB-Tokyo). Raw material adjustments had minimal effect as stagnant supply was reported among inventories. Mid-quarter saw price elevation prompted by demand from downstream sectors, improving consumption patterns along storage inventories, generating requirements for fresh stock. Overall market sentiments were characterized by shifting demand across various sectors, contributing to price variability.

Europe

During Q3 of , the Acrylic Acid market faced downward trends, primarily within the European market. Price drops were recorded, especially in France, where excessive supply led to a corresponding decline in demand amidst comprehensive inventory coverage. Despite sufficient stocks, demand from the downstream segment remained subdued, creating hindered operational conditions. While price pressure from the upstream feedstock market materialized, the inventory levels ostensibly provided support for overall reductions.

South America

In South America, Q3 prices for Acrylic Acid continued declining, particularly in Brazil, where high supply interrupted price patterns amid a backdrop of rising feedstock costs. As inventories stabilized, demand dwindled, prompting further downward price corrections. Conversely, a rebound took shape later in the quarter as demand escalated within the downstream paint and coating sectors, increasing comprehensive consumption thereby requiring restock actions.

For the Quarter Ending June

North America

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The Acrylic Acid market witnessed stable sentiments across the region. Regional demand stayed consistent throughout Q2 as firm domestic demand further bolstered market dynamics. Nonetheless, inflationary pressures prompted commodity producers to raise material prices. In contrast, Acrylic Acid prices held steady, largely due to supply consistently outweighing demand. Overall, prices remained firm, though the threat of stagnation emerged, causing minor forecasted dullness.

Asia

Market dynamics in Asia displayed mixed sentiments due to fluctuating demand against robust supply from manufacturers. Ample provisions from Saudi Arabia maintained lower trends throughout the initial months. Conversely, sudden pandemic case surges in China constrained global market interactions, while at quarter-end, revitalizations in pricing were noted in India and China. That said, underlying sluggish economic activities signaled sustained caution in market dynamics.

Europe

German Acrylic Acid prices fluctuated, reflecting variable demand cores amidst escalating production costs. The geopolitical climate, chiefly the Russia-Ukraine conflict, emerged as a principal driver behind price fluctuations. April experienced price surges aligned with rising input costs, while May faced declines due to wavering demand fundamentals. Eventually, variance emerged on year-end price recoveries amidst packaged products returning towards normalization.