Acrylic Acid Prices: During the second quarter of 2023

20 May.,2024


Acrylic Acid Prices: During the second quarter of 2023

For the Quarter Ending June 2023

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North America:

In the USA region, the market price of Acrylic Acid saw a sharp decline, reaching USD 1485 per ton FD Texas. This drop in price had a direct impact on the production cost of Acrylic Acid, as stated by traders. The downward shift in Acrylic Acid pricing dynamics can be attributed to the continuous decrease in the prices of its key feedstock, Propylene, along with a decrease in market inquiries. The prevailing economic downturn, coupled with concerns about an impending recession, has further contributed to a decrease in market demand. Investors hold a pessimistic view of the American Logistics industry, predicting that long-term growth rates will fall below historical levels. This sentiment is evident in the industry's current price-to-earnings (PE) ratio of 15.2x, lower than its three-year average of 21.2x. Moreover, the present price-to-sales (PS) ratio of 1.0x is also lower than the three-year average of 1.2x. These indicators collectively suggest a less favorable market perception and potential challenges ahead for the logistics sector. The inventory level has risen due to reduced consumption from the downstream paints and coatings market.


Throughout the second quarter of 2023, Acrylic Acid prices in the Asian market experienced a significant decline, reaching USD 972 per ton FOB Qingdao. The downturn in demand from Mainland China has had a notable impact on the market, as purchase orders have consistently decreased for eleven consecutive months, leading to weaker operating conditions. Buyers have responded by adopting stricter spending practices, which has contributed to improvements in employment rates, second only to figures observed in January 2022. In terms of vendors, supply chain partnerships have undergone adjustments in terms of performance deliveries, achieving their best results since early 2016. Manufacturers have also witnessed minimal inflation in input costs, the lowest since February 2021. Similarly, output price inflation has been measured at its lowest point in twenty-one months. Optimism among decision-makers has risen due to promising signs of economic revival, reaching levels not seen since late October 2021. The Asian market has experienced elevated inventory levels due to decreased consumption from the marketplace.


The European market saw a substantial drop in Acrylic Acid prices during the second quarter of 2023, reaching USD 1361 per ton Contract FD Hamburg. The contraction in output was the swiftest in eight months, while new orders experienced their most rapid decline since the preceding October, partly due to customer hesitancy and destocking. Additionally, job creation rates were at their weakest since March 2021. Input costs witnessed their most significant decrease since July 2009, and output prices dropped for the first time since September 2020, reflecting increased competitive pressures. Expectations for future output prospects have hit their lowest point since the previous November, stemming from concerns about persistent inflation, tightening financial conditions, customer uncertainty, and geopolitical tensions. Acrylic Acid exports to Belgium, Spain, Italy, France, and the Netherlands were solely based on demand, and the supply chain was sufficiently moderate to meet downstream requirements, thereby maintaining inventory levels for regional traders. The PMI (Purchasing Managers' Index) fell to 40.6, while the CPI (Consumer Price Index) showed an increase to 116.8 points, influencing market sentiments.


In the Saudi Arabian market, Acrylic Acid prices followed a downward trend, reaching USD 1379 per ton FOB Jeddah in the second quarter of 2023, as reported by market trade data. Elevated production rates of petrochemical derivatives have impacted the regional market price of Acrylic Acid in Saudi Arabia. Despite a decline in the PMI to 58.5 in May, downstream demand from paints and coatings markets affected regional market sentiments during that period. Recent reports indicate that supply chain disruptions are impacting the region, leading to a noticeable escalation in Acrylic Acid prices. This situation has exposed the region to significant risks related to paints and coatings insecurity and debt accumulation in the sector. The disruption in supply chains has led to increasing challenges, resulting in product shortages and decreasing inventories during May.

South America:

In South America, new orders have continued to decline for the ninth consecutive month, highlighting both domestic and foreign demand difficulties in challenging market conditions. Consequently, production has been shrinking, driven by a notable drop in intermediate goods production. Job losses have also persisted in factories, attributed to spare capacity within the production stream. However, eased supply constraints and lower commodity prices have aligned with poor demand conditions, resulting in a significant decrease in output charges. Despite the challenging current conditions, firms have expressed some optimism regarding growth prospects, with Acrylic Acid prices at USD 1545 per ton CFR Santos. Investors in the Brazilian Oil and Gas industry are less optimistic, anticipating lower long-term growth rates compared to historical trends. The industry's PE ratio is at 2.9x, lower than the three

Acrylic Acid Prices – Historical Graph [Realtime Updates]

Where does acrylic acid come from?

Acrylic acid is an organic molecule that corrodes both in liquid and vapor form. Also, it is a valuable raw material that finds versatile applications in the production of plastics, detergents, paints, polishes, medical products, wastewater treatment chemicals, and various polymers.

It is primarily derived from propylene, a petrochemical sourced from fossil fuels. Here is a simplified overview of the process:

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1. Propylene Feedstock – Propylene is obtained from the petrochemical sector as a residue of procedures used to refine natural gas or crude oil.

2. Oxidation of Propylene – It is a crucial step in the creation of acrylic acid. Propylene and air are reacted in this method at high temperatures with the help of a catalyst, usually a metal oxide. Then, it is changed into acrolein through the oxidation process.

3. Conversion to Acrylic Acid – After the oxidation stage, acrolein is subjected to further oxidation to create acrylic acid. Typically, it is done using a catalytic vapor-phase oxidation procedure.

4. Purification – During the oxidation step, crude acrylic acid is created. Purification procedures are used to get rid of these impurities.

5. Final Product – Once the process is complete, the resulting acrylic acid is in its final state and ready for application across various industrial uses.

What are the uses of acrylic acid?

Generally, it is used in industrial processes to produce polymers for various plastic items. For instance, sodium polyacrylate is a water-absorbing material that comes from acrylic acid and is widely used in diapers, adult urinary products, and agricultural operations to improve water retention.

Additionally, it helps thicken fluids and is useful in environmental applications including water treatment. Some of the industrial applications of acrylic acid are

1. Coatings and Adhesives – Acrylic resins are used in paints and adhesives. Also, acrylate coatings are widely used on a variety of surfaces due to their strength, resilience to weather, and adaptability.

2. Textiles – It is used in the textile industry to create acrylate polymers which are necessary for the production of synthetic fibers and fabrics.

3. Water Treatment Agent – It is useful as a chemical agent for treating water in the petroleum, chemical, metallurgical, transportation, light industrial, and textile industries,

4. Personal Care Products – Its derivatives are found in numerous personal care products, including skincare and hair care formulas as it functions as a stabilizer and thickener.

5. Automotive Applications – It improves the functionality and appearance of automotive products in coatings, adhesives, and sealants.

6. Construction and Sealants – Some construction materials incorporate acrylic acid to make caulks and sealants due to their sealing properties that maintain flexibility, adhesion, and strength.

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