N Butyl Acetate Prices Surge by ₹2/kg as Paint and Coating Demand Rebound
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N Butyl Acetate prices have risen by ₹2/kg as demand surges in India’s paints and coatings sector post-Diwali. Domestic demand steady until mid-2024, is further supported by favorable Asian pricing and seasonal trends in coatings and industrial application.
Key Takeaways:
- N Butyl Acetate prices increased by ₹2/kg due to strong buying from paints and coatings manufacturers post-Diwali.
- Asian prices saw a rise to 7475 Yuan/MT, signaling robust regional demand.
- Demand in India is expected to stay steady, primarily driven by seasonal upticks in the paint and coatings industries.
- Upstream crude and natural gas prices remain stable, but higher replacement costs may keep prices high.
Current Price Trends for N Butyl Acetate
- Importers have raised the N Butyl Acetate price by ₹2/kg to ₹94++ ex-Kandla on 60-day credit terms.
- Leading domestic manufacturer Accord Organics also increased its basic price by ₹2/kg today to ₹93++ ex-Ahmednagar on advance payment terms.
- The rise in N Butyl Acetate prices is attributed to increased buying activity from paints and coatings manufacturers, who have returned after the Diwali holidays.
- On a week-on-week basis, N Butyl Acetate prices rose by ₹2/kg, reflecting positive market sentiment.
Supply & Demand Dynamics for N Butyl Acetate
- The demand for N Butyl Acetate was quite subdued in October due to Navratri and Diwali holidays, as many paints, coatings, and ink manufacturers operated at reduced production rates.
- This week, Asian benchmark FOB China prices for N Butyl Acetate surged by 25 Yuan to 7475 Yuan/MT, equivalent to $1052/MT FOB China.
- Indian demand is anticipated to pick up and remain steady until June 2025, driven by seasonal requirements in the paints and coatings sector.
- Monthly demand for N Butyl Acetate in India stands at around 4 kt, with primary consumers being the paints and coatings industry. Additional consumers include sectors like bulk drugs, personal care, fragrances, and leather.
Chemical News: Global Market Outlook
- In international market news, the upstream crude oil benchmark WTI price increased marginally by 0.01% to $71.46/barrel, while natural gas prices rose by 0.59% to $2.79/MMBtu.
- Ningbo Juhua, a leading N Butanol manufacturer based in Zhejiang, China, announced the shutdown of its plant at the end of October 2024.
Expert Opinion: Market Outlook for N Butyl Acetate Prices
N Butyl Acetate prices will remain bullish this week, driven by robust demand from primary consumers in the paints and coatings sector. Additionally, higher replacement costs for importers are likely to support elevated Butyl Acetate prices. Therefore, buyers are advised to consider inventory opportunities as seasonal demand in paints and coatings resumes.
Daily Market Report
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