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[Industry Focus]：China's MMA market is widely volatile, 2024 these events can not be missed

Read： 167 Time：7days ago Source：Olefin Industry Innovation and Development Institute, Ease of the World

Market Overview and Price Dynamics

in 2024, China's methyl methacrylate (MMA) market experienced significant price fluctuations and market shocks. Specifically, the annual average price in East China reached 14466 yuan/ton, up 28.68 percent from the same period last year, with the year's high around May 6. The average market price in South China was 14836 yuan/ton, up 27.47 percent year-on-year, with the year's high around May 8. The average market price in Shandong is 14581 yuan/ton, and the high point of the year also appears around May 8.

Analysis of market influencing factors

export growth: In the first half of 2024, the maintenance of international installations in Southeast Asia, Europe and other regions, coupled with strategic adjustments in Japan and Singapore, led to a reduction in international production capacity and a decline in in stock supply. China's exports increased due to price advantages, domestic downstream PMMA supporting devices increased limited, poor demand growth, prompting domestic manufacturers to increase exports. This year's export volume is about 350000 tons, up 147.87 percent from last year, a five-year high.

International capacity reduction

1. Asahi Huacheng: On November 15, Asahi Huacheng announced that it would terminate the operation of its subsidiary PTT Asahi Chemical Co., Ltd (PTTAC) and dismantle its facilities. It plans to end production on October 31, 2024, December 31, 2024 and dismantle its factory facilities from 2025 to 2028.

2. Sumitomo Chemical: Decided to close two MMA monomer and PMMA production lines in Singapore by the end of September 2024, resulting in a reduction of MMA monomer production capacity by about 80% and PMMA production capacity by about 70%.

3. Mitsubishi Chemical: On February 27, Mitsubishi Chemical announced that it would stop MMA production and acrylonitrile-related production in ACH process at Hiroshima plant, with an annual production capacity of 90000 tons. Mitsubishi Chemical plans to build a 350000-ton/year Alpha Technology Route MMA plant in Louisiana, USA.

4. Kole Li (Kuraray): On June 27, Kole Li announced to reduce MMA and downstream production capacity, halve MMA production capacity and stop external sales.

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Domestic process breakthrough

1. Panjin Sanli: In November, the production project of 100000 tons of new materials produced by Panjin Sanli Zhongke New Materials Co., Ltd. will soon enter the stage of equipment commissioning and trial production, adopting the first ethylene three-step MMA system in China.

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2. Hami Xineng Coal Chemical Industry: On November 7, Hami Xineng Coal Chemical Industry New Material Project was officially signed, with an annual output of 400000 tons of MMA/PMMA.

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3. CNOOC Chemical Industry: On May 25, the pilot plant of ethylene carbonyl esterification method MMA developed by CNOOC Chemical Industry and New Materials Research Institute started operation smoothly in Yan 'an, Shaanxi Province.

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New Enterprise Entry and Progress

1. Kaiyi Petrochemical: On April 9, Kaiyi Petrochemical and Honeywell's C4 New Material Integration Project planned to build a 104000-ton MMA device.

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2. Chengzhi shares: MMA pilot process package and report preparation were completed in January, PMA project was started in October, and it is planned to be completed and put into operation in 2027.

Other dynamics

huayi and Shengrong joint venture: Dongming Huayi Yuhuang New Materials Co., Ltd. manager issued an enterprise asset auction announcement, the company has an annual output of 50000 tons of MMA device.

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Shengxi: On June 26, 2024, Shengxi announced the opening of its PMMA depolymerization facility in Rozhen, Italy, using a new generation of technology to produce high-purity recycled MMA.

In summary, in 2024, China's methyl methacrylate (MMA) market showed a wide range of volatility, by the export level wide range of rise, foreign Japanese enterprises to reduce production capacity, domestic ethylene process breakthroughs and new enterprises into the bureau and layout of enterprise progress and other factors. In the future, with the continuous changes in market demand and the continuous advancement of technology, the MMA market will continue to remain active.

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