Introduction
In March 2026, the domestic acrylic acid market experienced a strong upward trend. Driven by a combination of persistently rising costs and tightening supply, market prices showed a broad upward movement. Taking the East China market as an example, the average price of acrylic acid this month reached RMB 10,523 per ton, an increase of 80.44% compared to the previous month. Market trading sentiment rose initially before easing, with overall performance characterized by high-level fluctuations.

I. Cost Side: Geopolitical Conflicts Drive Up Crude Oil, Rigid Increase in Raw Material Costs

| Figure 1: Price Trend of Major Acrylic Acid Markets, 2025–2026 (RMB/ton) |
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| Data Source: chempricehub |

The core driver behind the rise in acrylic acid prices this month was strong support from the cost side. Ongoing geopolitical tensions in the Middle East, coupled with disruptions in the Strait of Hormuz, raised concerns about energy supply and directly pushed up international crude oil prices. As the primary raw material in the chemical industry chain, the increase in crude oil prices quickly transmitted to downstream intermediate products such as propylene and propane. Consequently, prices for propylene and propane saw significant simultaneous increases this month, leading to a rigid rise in production costs for PDH (propane dehydrogenation) units and further elevating acrylic acid costs. As of now, the average cost of acrylic acid in the East China market is RMB 6,918.41 per ton, up 23.32% from the previous month.

II. Supply and Demand Side: Concentrated Plant Maintenance Leads to Tight Spot Supply

| Figure 2: Capacity Utilization Trend in the Acrylic Acid Industry, 2025–2026 (RMB/ton) |
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| Data Source: chempricehub |

On the supply side, the acrylic acid market showed a clear tightening trend in March. Multiple major production units in China, including those of Satellite Chemical, underwent concentrated maintenance, causing the industry operating rate to drop from 80.89% to 76.51%. The decline in operating load led to tighter spot supply in the market, with producers holding back sales and maintaining firm offers. Low-priced supplies were scarce, and the contraction in supply provided strong support for the price increase. On the demand side, the market exhibited phased characteristics. In the first and middle ten days of the month, downstream industries such as coatings and adhesives entered their traditional peak consumption season, with concentrated release of rigid demand. Downstream companies showed high purchasing enthusiasm, effectively supporting acrylic acid prices at high levels. However, from the middle to late ten days, as acrylic acid prices continued to rise, cost pressures on downstream companies increased significantly, dampening their willingness to accept goods. Purchasing gradually slowed, and market trading sentiment shifted from active to subdued. Actual transactions were mostly negotiated, with noticeable resistance to high-priced deals.

III. Price Trend: Broad Increase with Widespread Regional Gains

| Figure 3: Price Trends of Acrylic Acid Across Regions, 2025–2026 (RMB/ton) |
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| Data Source: chempricehub |

In terms of price performance, the acrylic acid market showed widespread gains in March, with significant increases across major regions. In East China, market prices rose rapidly from RMB 6,300 per ton at the beginning of March to RMB 11,750 per ton by the end of the month, an increase of 86.51%. In South China, prices increased from RMB 6,100 per ton to RMB 11,750 per ton, up 92.62%. In North China, prices rose from RMB 6,150 per ton to RMB 11,450 per ton, an increase of 86.18%. The price surge was mainly concentrated in mid-March. By late March, as downstream resistance emerged, the pace of price increases slowed, and the market entered a phase of high-level consolidation.

IV. Outlook

Looking ahead, the acrylic acid market is expected to continue facing strong cost support in the short term. With geopolitical tensions in the Middle East remaining unresolved, crude oil and propane prices are likely to stay elevated, providing ongoing support to acrylic acid prices from the cost side. On the supply side, some production capacity will gradually resume after maintenance, and spot supply is expected to return to normal. However, with costs remaining high, acrylic acid producers are likely to maintain firm offers in line with market conditions. Downstream companies are expected to rely mainly on contract consumption, with spot purchases following demand. Negotiated prices are likely to consolidate at high levels, with mainstream prices in East China expected to fluctuate around RMB 11,800 per ton.