Evonik expects Q2 2026 adjusted EBITDA of €600-650mn, up from €509mn a year ago, driven by higher sales volumes and higher prices. Supply chain disruptions affecting Asian competitors provide temporary pricing and availability support; however, the effect is expected to weaken later in 2026 as global shipping stabilizes. Full-year EBITDA outlook raised to €2.0-2.2bn.
Asia
In Asia, HPMA prices followed a soft to stable trend during the fourth quarter of 2025. Demand from downstream sectors such as coatings, adhesives, and acrylic resins remained weak due to seasonal slowdown and cautious buying. In China, market activity slowed further as manufacturers focused on inventory control rather than fresh purchases. Feedstock availability remained comfortable, with propylene oxide supply staying ample and propylene prices declining, which reduced production costs. Methacrylic Acid supply was stable, but consumption from acrylic polymer producers stayed limited. High inventories and excess capacity across related chemical markets kept pressure on HPMA suppliers throughout the quarter.
Europe
In Europe, HPMA prices weakened slightly during Q4’25, particularly in Germany. Demand from construction and automotive-related coatings declined as seasonal factors and slow industrial activity affected consumption. Supply remained steady due to consistent domestic production and stable imports. Feedstock Methacrylic Acid prices dipped during the quarter, supported by easing acetone and propylene costs, which lowered HPMA production costs. At the same time, weak demand for propylene oxide derivatives limited any cost push. Buyers reduced order volumes and adopted a wait-and-see approach, keeping the market sentiment subdued.
North America
In North America, HPMA prices remained under pressure during Q4’25. Demand from coatings, adhesives, and acrylic resins stayed weak as construction activity slowed and automotive output remained cautious. Producers continued operating at stable rates, which led to inventory buildup. Export demand also softened, adding further pressure on the domestic market. Some feedstock prices declined during the quarter, while propylene oxide prices also eased due to weak downstream demand and high inventories. These factors allowed suppliers to adjust offers downward to support offtake.
Analyst Insight
According to Procurement Resource, HPMA prices are expected to remain stable to slightly weak unless downstream demand from coatings or acrylic polymers shows clear recovery.
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Asia
In Asia, HPMA prices moved mostly downward during Q3’25. The market was weighed down by weak demand from coatings and adhesives manufacturers, while the availability of upstream materials stayed comfortable. Industrial activity in major economies such as China remained sluggish, and downstream buyers were cautious about purchasing more than immediate needs.
Even though a short-lived improvement was seen in August when trade tensions eased, the overall mood stayed soft due to high inventories and slow consumption. Some producers operated at reduced rates to avoid oversupply, but this was not enough to lift prices significantly. Toward the end of the quarter, the market remained stable but subdued, with sellers focusing on maintaining steady offtake rather than pushing for higher offers.
Europe
In Europe, HPMA prices also showed weakness through the third quarter of 2025. Demand from key end-use industries such as paints and construction stayed muted, and the region faced competition from lower-priced imports. With limited feedstock requirements and high availability in storage, buyers were able to negotiate better deals. A few maintenance turnarounds offered temporary balance, but overall production remained adequate to meet the modest demand. Sellers struggled to improve margins amid falling raw material costs and slow downstream activity. The sentiment stayed cautious, and trading volumes were lower than usual for the season.
North America
In North America, HPMA prices followed a similar soft trend. Despite steady production levels, the market faced pressure from strong local supply and limited export opportunities. Weak global demand reduced shipment volumes, causing more material to remain in the domestic market. Seasonal consumption in coatings was moderate, and feedstock costs trended slightly lower, pulling overall HPMA values down. Most producers maintained normal operations but adopted flexible pricing to manage inventory levels efficiently.
HPMA (Hydroxypropyl Methacrylate) is an enoate ester which is the 1-methacryloyl derivative of propane-1,2-diol. It plays a role as a polymerisation monomer. It is widely used in the manufacture of acrylic polyols for automotive OEM and refinish coatings along with industrial coatings. It is also utilised as a co-monomer in styrene based unsaturated polyesters and PMMA based acrylic resins.
C7H12O3
Polymer and copolymer, Acrylic polyols, Flexible photopolymer printing plates, Coating Additives, Adhesives, Sealant Chemicals, Intermediates, Paint Additives
2-Hydroxypropyl methacrylate, 2-HPMA, 27813-02-1, 2-Hydroxypropylmethacrylate
Evonik Industries AG, The Dow Chemical Company, Nippon Shokubai Co., Ltd, GEO Specialty Chemicals, Inc, Kowa American Corporation
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
HPMA is produced by the addition of methacrylic acid to the epoxide ring of alkylene oxides to form hydroxyalkyl methacrylates, that is, beta-hydroxyethyl and Hydroxypropyl Methacrylate.
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