North America
The North American market for 2-Ethylhexyl Acrylate in the fourth quarter of 2023 experienced a bearish trend, driven by weak demand from the downstream paints and coating industry. The supply of the product was sufficient, leading to reduced production rates by manufacturers to avoid oversupplies. The prices of the commodity showed a downward trajectory, with a 0.8% decrease compared to the previous quarter.
One of the primary reasons for the market's performance was the adequate supply of 2-ethylhexyl Acrylate, which prompted producers to reduce their production rates. Additionally, the weak demand from the paints and coating industry contributed to the bearish sentiment in the market. There were no reported plant shutdowns during the quarter.
In the USA, the 2-Ethylhexyl Acrylate Prices increased by 0.8% compared to the previous quarter. The market showed a bearish trend, driven by weak demand from the paints and coating industry and limited supply. The prices of the upstream feedstock, Acrylic Acid, also increased, adding to the cost of production, despite this, the prices of the commodity declined due to the lower demand from the downstream Paint and Coating enterprises. Overall, the market conditions in the USA were unfavorable for the commodity, leading to a decline in prices. The quarter-ending price of 2-Ethylhexyl Acrylate in the USA was USD 1576/MT (DEL-Louisiana).
APAC
The fourth quarter of 2023, for the APAC region, witnessed bullishness in the 2-Ethylhexyl Acrylate market as the demand from the downstream Paints and Coating industry was high. However, there were a few factors that impacted the market and prices. Firstly, the supply of the commodity was low, and the disturbance in the supply/demand equilibrium contributed to the bullish price trend. Secondly, the anticipation of cost inflation and revision in price trends due to strong market sentiments impacted the market. Lastly, the disruption of the supply chain and accelerating demand were also factors that altered the price trend. In China, which experienced the most significant price changes, the trend was bullish due to increased demand from the downstream Paints and Coating industry and insufficient stocks. The price increased by 9% in December 2023. The trend, seasonality, and correlation price percentage for China in Q4 were all positive. The percentage change from the current quarter to the previous quarter was 4.73%, and the percentage change from the same quarter last year was 27%. The price for 2-Ethylhexyl Acrylate FOB Qingdao in China at the end of the quarter was USD 1792/MT.
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Europe
In the fourth quarter of 2023, the 2-Ethylhexyl Acrylate market in Europe experienced a bearish trend, with prices declining. This can be attributed to several factors. Firstly, there was a high supply of the commodity, which met the low demand from the downstream paints and coating industry. Additionally, the prices of the upstream feedstock, Acrylic Acid, decreased, leading to a drop in the price of 2-ethylhexyl Acrylate. Furthermore, the market was influenced by the overall economic situation, including the inflation rate and the PMI of Germany. During this quarter, there were no reported plant shutdowns that affected the market. Germany, being a significant player in the European market, experienced the most significant changes in the price of 2-ethylhexyl Acrylate. The country saw a decline in prices, with a decrease of 6.03% compared to the previous quarter. This can be attributed to the low demand from the downstream sector and the high supply of the commodity. Looking at the price trends, there was a significant decrease of 39% compared to the same quarter of the previous year. This indicates a substantial decline in prices over time. In conclusion, the 2-Ethylhexyl Acrylate market in Europe, particularly in Germany, experienced a bearish trend in the fourth quarter of 2023. The low demand from the downstream sector, coupled with a high supply and decreased prices of the feedstock, led to a decline in prices. The market conditions were influenced by economic factors such as inflation and PMI. The price of 2-Ethylhexyl Acrylate in Germany for the current quarter is USD 1685/MT (FD-Hamburg).
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