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2018-08-31
(MMA Factories operatin rate)
The current shortage of Methyl Methacrylate (MMA) may get worse. A new study by IHS Markit (London) shows that the demand for this chemical has been increasing in the production of plastics, paints, coatings and adhesives, and that this chemical is due to operational problems in production and production facilities. The supply is limited.
IHS Markit Global Acrylate and Superabsorbent Polymer (SAP) Market Consulting Services Company expects global demand for MMA to reach 3.7 million tons by 2018. By 2023, demand is expected to exceed 4.3 million tons, which is largely driven by growing demand for coatings and adhesives in China and elsewhere. In the next five years, the average increase in global demand will be slightly higher than 3%, while the more mature market will increase by 2% during this period.
Their report shows that in the past 18 months, China's MMA prices have been rising steadily. In Western Europe and the United States, producers also benefit from higher prices during the same period. Since January 2017, European prices have risen by nearly 60%. In the same period, US house prices rose by nearly 20%.
Denis Poussin, Head of global acrylate research at IHS Markit and lead author of the IHS Markit analysis, expects that Asia and the United States plan to close the factory again in September and October, which will lead to a decline in the second-year operating rate and supply will be reduced. IHS Markit said, during this period, US MMA capacity will drop to 65%, while Northeast Asia's capacity will drop by 80%. This kind of tension will lead to price increases as companies seek to increase trading volume through internal transfers, swaps or commercial markets.
According to IHS Markit's report, the capacity of the new installation will not be enough to make up for the supply gap caused by maintenance shutdowns later this year.
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