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Applications to expand the demand for stimulation MMA is mainly used for the production of PMMA, cast plates and coatings. Most of the current market's MMA is used to produce optical grade PMMA, which is mainly used in the field of liquid crystal flat panel TVs, light emitting diodes, or plasma screens. These new application areas have stimulated explosive growth in demand for MMA and PMMA, especially in China.
According to statistics, in the last two weeks of 2010, the optical PMMA price in the Asian region was between 3,000 and 3,180 US dollars (CFR, China, ton price, the same below). The product reached a peak value of 3,200 US dollars in the third quarter of 2010; the general-purpose PMMA price With a price of US$2,950 to US$3,100, compared with the same period of last year, the price was only US$1910 to US$1,960 (CFR, China). General-purpose PMMA is mainly used for extruded boards, household products including photo frames, tourist souvenirs, and eyeglasses; the MMA price is 2350. US$2,400 (CFR, Southeast Asia), compared with prices of US$1730 to US$1,743 a year ago.
According to market participants, the prices of optical-grade PMMA, general-purpose PMMA, and raw material MMA began to show signs of fatigue after hitting the recent peak in the third quarter of 2010, mainly due to the high inventory of light guide panels used by TV makers to produce LCD TVs. The desire to buy falls. In addition, due to the approach of the Lunar New Year, the current Chinese MMA and PMMA markets are in an off-season. Although television manufacturers currently have a high inventory of light guide panels, market participants believe that consumer demand for optical-grade PMMA will increase over the long term.
The busy expansion of PMMA manufacturers in Asia continues to increase demand and stimulate manufacturers to carry out a series of energy expansion activities. These projects will be put into production in 2011. Taiwan Chi Mei Corporation of China plans to expand its PMMA installation capacity in mainland China and Taiwan, China in the second half of 2011. Chi Mei currently owns a PMMA plant with an annual capacity of 50,000 tons in Zhenjiang, Jiangsu, China. The company decided to expand the plant and increase its annual production capacity by 70,000 to 80,000 tons. Chi Mei Corporation is located in Tainan, Taiwan, China. It also has a PMMA unit with an annual capacity of 175,000 tons, and plans to increase the capacity of the unit by 70,000 to 80,000 tons in the third quarter of 2011. South Korea's LG MMA also plans to add 20,000 tons of new PMMA capacity through the expansion of the plant, which is expected to be completed in the second quarter of 2011. By then, the company's PMMA annual production capacity will increase to 110,000 tons. Mitsubishi Rayon Co., Ltd. plans to expand a 40,000-ton PMMA plant in Nantong, Jiangsu, China, to 10,000 to 15,000 tons, which is planned to be completed in the third quarter of 2011. Daesan MMA plans to renovate a 40,000-ton PMMA plant in Dashan, Korea, and expects to add 10,000 tons of PMMA capacity. Evonik Industries, Germany and AU Optronics, Inc. plan to expand PMMA's PMMA joint venture in Taichung, Taiwan, to an annual capacity of 85,000 tons.
MMA supply is getting tighter In contrast, there is not much new capacity for MMA in Asia in 2011. From the information published by the market, there are only two major MMA capacity expansion projects in Asia in 2011: Asahi Kasei and PTT Group's joint venture in Mata, Thailand, will build a new MMA plant with an annual capacity of 70,000 tons, which will be second in 2011. Quarterly production; Dashan MMA plans to expand its MMA plant capacity to increase its annual production capacity from 90,000 tons to 105,000 tons.
The substantial expansion of PMMA's production capacity has caused people to doubt whether the market has enough MMA raw materials to meet the PMMA production, especially in 2010. Most MMA producers in Asia have already taken steps to limit supply to customers. There is no excess on the market. MMA for sale.
A major Japanese MMA supplier stated that the new MMA supply is unlikely to meet the need for additional PMMA capacity, as the demand for MMA in the cast plate sector is also very strong. Market participants also said that the demand for Asian paint coatings market will grow at an annual rate of 7.9% before 2014, so the market demand for MMA will also grow at the same rate.
Some producers in the Asian region stated that the increase in demand will lead to tighter MMA supply in Asia in 2011, which means that the MMA contract supply terms will become more stringent. For example, some MMA supply giants have suggested to reduce contract customers' discounts in 2011. Generally speaking, the discount rate for annual contract customers is 5% to 6%, and the high ones even reach 8%. This ratio may fall to 1% to 3% in 2011, without even discounting.
The ability of Chinese consumers to purchase high-quality and large-scale electronic products will become the main driver for the growth of polymethyl methacrylate (PMMA) demand in 2011, especially for optical PMMA. Industry insiders estimate that in the next four years, the Chinese TV market will continue to increase at an average annual rate of 5% to 8.7%. Supported by strong downstream demand, the prices of Asian methyl methacrylate (MMA) and PMMA will remain strong in 2011.