In the first half of 2024, 2-Ethylhexyl Acrylate prices experienced significant fluctuations across regions due to rising geopolitical tensions and increasing freight and insurance costs. China’s position as the largest exporter heavily influences pricing, while Malaysia also plays a vital role in the market. These factors have created uncertainties, impacted supply chains and leading to volatility in pricing.
Q1 2024 has been challenging for the 2-Ethylhexyl Acrylate market in the APAC region, with prices declining by 4% from the previous quarter. In China, decreased demand from downstream industries like Paint and Coatings has led to excess inventory. The Chinese New Year festivities disrupted trading, exacerbating the downward trend. Additionally, seasonality played a role, as prices fell more sharply in the first half of the quarter due to anticipated demand and stockpiling. On the contrary the ASEAN region experienced a growth of 11% driven by robust demand from growing industries, particularly in construction and automotive sectors. Enhanced manufacturing capabilities and a shift towards higher-quality formulations also supported this rise.
In Q2 2024, 2-Ethylhexyl Acrylate prices in ASEAN countries rose by 5.5%, driven by increasing demand, supply chain constraints, and higher acrylic acid prices, a key feedstock. The overall APAC region also saw a growth of 1.7%, fuelled by rising demand and escalating feedstock costs. These trends indicate a strengthening market in response to robust industrial activity and tighter supply conditions, highlighting the resilience of the ASEAN market amid broader regional developments.
In Q3 2024, the ASEAN region continued its momentum with a 1.4% price increase, driven by slightly rising demand. Malaysia remains the main exporter and has been largely unaffected by rising geopolitical tensions. Conversely, the Chinese market experienced a 2.5% price decline, impacting the global market. This decline is due to reducing demand in downstream industries, increased production capacity in China, geopolitical tensions affecting trade, and seasonal fluctuations.
In Q4 2024, 2-Ethylhexyl Acrylate prices are expected to rise slightly due to increased seasonal demand from industries like paints and coatings. However, price fluctuations may occur due to feedstock cost changes and ongoing geopolitical tensions affecting trade dynamics and supply stability.