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[Industry Focus]：MMA production capacity continues to be released, and the contradiction between supply and demand is serious.

Read： 440 Time：17months ago Source：中国化工报

In recent years, domestic MMA production capacity has continued to be released, reaching 2.15 million tons in 2022, an increase of 38.26 percent over 2021. MMA capacity will continue to be released in 2023. The significant increase in

capacity directly affects market prices. Compared with the price of more than 20000 yuan in the past, a sharp drop in MMA price is inevitable. Last year, the MMA market price was at a historical low, and the average price in the East China secondary market was 11800 yuan. The average price in the first half of this year was less than $11000, almost equal to the market price most affected by the epidemic in 2020.

MMA production capacity will be released this year, but does not rule out delaying production. The MMA industry is now operating at less than 50%. If companies do not take measures such as production cuts, there are still many resistances to the rise of the MMA market in the second half of the year.

from the perspective of upstream acetone, the production capacity of Ruiheng and Shenghong will continue to be released in 2023. In the second half of the year, Hengli Petrochemical, Qingdao Bay, Huizhou Zhongxin, Longjiang Chemical multi-set phenol ketone plant plan to put into production, the cost is difficult to effectively promote the MMA market.

Let us take a look at the downstream polymethyl methacrylate (PMMA). In the first half of this year, there were almost no bright spots in the market. Due to the unabated operating pressure, the release of raw material capacity is seriously lagging behind. In addition, with the depreciation of the RMB and the increase in import supply, the downstream market is optimistic about MMA.
the third quarter of
, the continuous high temperature coincides with the off-season of industry consumption, and the current situation of weak demand may have been running through the "golden nine silver ten", but in the macro environment of increasing downward pressure on the economy, the quality has long been insufficient. MMA prices are expected to have a phased repair opportunity in the second half of the year, with low operating rates likely to accompany the full year.

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