SunSirs: Positive News Intertwined, Acrylic acid Continued to Rise

https://www.chemnet.com   Nov 01,2024 SunSirs

Market trend

Price increased: Against the backdrop of tight supply and demand, the price of acrylic acid in the market continued to rise. According to market data, as of October 31st, the benchmark price of acrylic acid in SunSirs was 6,837.50 RMB/ton, an increase of 0.92% compared to the beginning of this month (6,775.00 RMB/ton). Recently, the price of acrylic acid has increased significantly, with prices in some regions even reaching historic highs.

Active market atmosphere: With the rise in acrylic acid prices, the market atmosphere has become even more active. Some downstream enterprises have started actively stocking up to cope with potential supply shortages in the future. At the same time, some investors have also begun to pay attention to the acrylic acid market and seek investment opportunities.

Supply side was tightened

Capacity limitation: Recently, some acrylic acid production enterprises have experienced capacity limitations due to tight raw material supply, equipment maintenance, or increased environmental requirements. This directly reduced the supply of acrylic acid in the market, further exacerbating the supply-demand imbalance.

Rising raw material costs: The price of propylene, the raw material for acrylic acid, has also increased recently, which has increased the production cost of acrylic acid. In order to maintain profit levels, some production enterprises have had to reduce supply or increase prices, further pushing up the market price of acrylic acid. As of October 31st, the benchmark price of propylene in SunSirs was 6,828.25 RMB/ton, an increase of 4.84% compared to the beginning of this month (6,513.25 RMB/ton).

Demand side increased

Downstream industry recovery: With the gradual recovery of the global economy, especially the rapid development of industries such as construction, automotive, and electronics, the demand for acrylic acid continued to increase. The increasing demand for acrylic acid in these industries has provided strong impetus for the acrylic acid market.

Environmental policy promotion: With the increasingly strict environmental policies, downstream enterprises were more inclined to use environmentally friendly materials. Acrylic acid, as an environmentally friendly material, has further increased its market demand.

Market outlook

Continued supply-demand imbalance: It is expected that the supply-demand imbalance in the acrylic acid market will continue to exist in the near future. On the one hand, some production enterprises may continue to reduce their supply due to tight raw material supply or increased environmental requirements; On the other hand, the demand for acrylic acid in downstream industries will continue to increase. This supply-demand contradiction will further push up the market price of acrylic acid.

Increased price fluctuations: With the intensification of market supply and demand contradictions and the continuous rise in raw material costs, the price fluctuations in the acrylic acid market will also further increase. Investors and downstream enterprises need to closely monitor market dynamics and price changes in order to adjust their investment strategies and procurement plans in a timely manner.

In summary, the recent acrylic acid market has shown a tightening supply-demand pattern, and the continuation of this trend has driven the continuous rise of acrylic acid prices.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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