North America
Diacetone Alcohol (DAA) prices in the North American market exhibited an initial increase of approximately 8% during the first two months of the fourth quarter, followed by stability in December 2023.
Demand conditions within the Diacetone Alcohol market remained largely subdued, mirroring the moderate performance of the construction sector. In the United States, the DAA market continued to be influenced by escalating production costs, driven by a notable increase of more than 50% in feedstock Acetone prices throughout the fourth quarter.
Regarding demand dynamics, the primary demand from the paint and coating sector within the construction industry remained subdued, despite the automotive sector displaying robust demand, evidenced by a 13% increase in automotive sales. Demand from the importing Mexican market also remained healthy, as the construction industry in Mexico sustained positive performance, with expectations of increased nearshoring activities in 2024.
The overall assessment placed the prices of Diacetone Alcohol at USD 2150/MT DEL Texas toward the conclusion of the last quarter of 2023.
APAC
During the fourth quarter of 2023, the Diacetone Alcohol Prices in China experienced a bullish trend in the Asia-Pacific region, with prices indicating an 8% incline. Despite the construction sector's moderate performance during this period, the demand for DAA from the paint and coating industry was notably subdued. This was attributed to major Chinese real estate entities seeking protection against bankruptcies. The rise in DAA prices can be primarily attributed to the robust performance of the automotive sector, which exerted pressure on the downstream paint and coating industry. Additionally, fluctuations in Acetone prices, with varying availability among traders, contributed to fluctuating production costs. Although the downstream paint and coating industry in China showed a slight increase in procurement activities in November 2023, leading to heightened purchasing, the overall market dynamics may shift due to year-end offer sales and destocking activities by merchants. Despite a decline in raw material costs, the cost of DAA remained high, reflecting increased purchasing activities. As of the end of the current quarter, the latest price of DAA FOB-Shanghai in China is USD 1782/MT. Notably, there were no reported plant shutdowns during the quarter that significantly impacted the market. The percentage change in price from the same quarter of the previous year was 11%, and there was a 15% increase in price from the previous quarter. However, there was no significant percentage comparison between the first and second halves of the quarter.
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Europe
The European market for Diacetone Alcohol (DAA) witnessed a sustained upward trajectory, primarily fueled by the escalating prices of feedstock Acetone, which experienced a nearly 10% surge across the region. Despite a challenging landscape marked by a struggling construction sector, indicated by diminishing housing permits and persistently pessimistic investment sentiments, the demand from the paints and coating industry, particularly within the construction and automotive sectors, remained subdued. Notably, the automotive industry faced a downturn, with sales continuing to decline throughout December 2023. However, a semblance of stability emerged through consistent demand from the printing sector, particularly in the ink industry, and the electronics industry. These sectors provided a bolstering effect on the overall DAA market, counteracting the prevailing challenges in other segments. The overarching market dynamics of DAA were significantly influenced by the persistent elevation in feedstock Acetone prices. The notable increase in upstream Benzene prices further escalated production costs, contributing to the overall rise in DAA prices. Despite the stable demand observed in the printing and electronics sectors, the continuous ascent in production costs remained the primary driver behind the upward trajectory of DAA prices.
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