【Introduction】: Recently, raw materials such as butyl acrylate and styrene have been fluctuating downward, while the MMA market in some regions remains firm, leading to insufficient cost-side support. Acrylic emulsion plants are operating at low capacity utilization rates, with spot supply relatively ample. In response to the new regulations for architectural coatings and industrial coatings that took effect on June 1, both upstream and downstream players are actively adapting. End-users maintain a cautious观望 attitude, with procurement largely limited to replenishing essential needs, resulting in lackluster market trading. Due to the prominent supply-demand contradiction, weakening downstream demand, and declining raw material cost support, the short-term weak pattern of emulsions is unlikely to change, and prices are likely to fluctuate at low levels.

1. Costs: Raw material market shows mixed movements, with overall cost support insufficient

According to data from Chempricehub, the raw material market has been relatively weak recently. This week, the domestic butyl acrylate market continued to decline. Taking the East China mainstream market as a reference, the market price range for the week was 8,300 yuan/ton, down 225 yuan/ton from last week, a drop of 2.64%. Currently, losses at butyl acrylate plants are deepening, but end-user demand is lackluster, and the market's absorption capacity is insufficient. Butyl acrylate holders are actively destocking, offering prices flexibly, and the market negotiation focus is shifting downward.

This week, raw material MMA prices saw slight negotiation-based movements. As of June 5, the negotiated price in the East China market was referenced around 12,400 yuan/ton; in the Shandong region, the negotiated price was referenced around 12,550 yuan/ton; in South China, the negotiated price was referenced around 13,050 yuan/ton. Compared to last week, prices fell by 0.4%, 2.85%, and 0.38% respectively. Styrene in the Jiangsu market fluctuated and declined. The spot price in Jiangsu was 8,950 yuan/ton, down 20 yuan/ton from last week. With butyl acrylate and styrene fluctuating downward and most MMA markets experiencing minor fluctuations, cost support for emulsion producers is insufficient.

2. Insufficient demand follow-up, acrylic emulsion prices trending downward

This week, acrylic emulsion prices continued their weak downward trend. Currently, major raw materials are fluctuating and declining, providing insufficient cost-side support. Producers' operating rates remain at a medium level, and market supply stays ample. At this stage, traders hold cautious and pessimistic expectations for the future outlook. To accelerate inventory turnover, they are adopting a mindset of offloading goods at low prices. Downstream coatings and adhesives end-user demand lacks follow-through, with procurement节奏 conservative and stocking limited to daily essential needs. Overall market transactions are difficult to expand, and holders face significant resistance in selling, resulting in persistently weak market trading. As of June 5, styrene-acrylic emulsion is referenced at 5,200–6,200 yuan/ton, and pure acrylic emulsion at 6,800–7,300 yuan/ton, down 3.33% and 0.7% respectively from last week.

3. New regulations implemented, acrylic emulsion upstream and downstream actively respond

On June 1, the new national standards GB30981.1 and GB30981.2 officially took effect.

Main controlled categories for architectural coatings:

1. VOC (Volatile Organic Compounds): Interior wall flat paint ≤ 50g/L, textured paint ≤ 80g/L; Exterior wall flat paint ≤ 80g/L, textured paint ≤ 100g/L (significantly reduced compared to the old standard).
2. Newly added SVOC (Semi-Volatile Organic Compounds) – top priority, directly constraining emulsion residual monomers: Interior wall flat paint ≤ 100g/L, primer ≤ 120g/L; Exterior wall flat paint ≤ 120g/L, clear varnish ≤ 180g/L.
3. Additive control: MIT (Methylisothiazolinone) ≤ 300mg/kg; APEO (Nonylphenol + Octylphenol polyoxyethylene ether) ≤ 1000mg/kg; high-content nonylphenol raw materials are banned.
4. Heavy metals: Total lead in pigmented paints ≤ 90mg/kg, total arsenic ≤ 60mg/kg; strict limits on cadmium/chromium/mercury.
5. Formaldehyde, Benzene series: Formaldehyde ≤ 50mg/kg for all categories, total benzene series ≤ 100mg/kg.

Main controlled categories for industrial coatings:

1. Dual control of VOC + SVOC: Waterborne wood clear varnish ≤ 150g/L, pigmented paint ≤ 250g/L; Waterborne industrial latex SVOC pigmented paint ≤ 100g/L, clear varnish ≤ 150g/L; SVOC limits for latex are enforced for the first time.
2. Toxic additives: Total phthalates ≤ 0.1% (tightened); nonylphenol + octylphenol restricted; certain photoinitiators limited.
3. Graded heavy metal limits: Direct contact items (toys/children's products) total lead ≤ 90mg/kg; general industrial paints ≤ 1000mg/kg; new special control for hexavalent chromium.
4. New mandatory labeling: Finished coatings must indicate environmental grade, lead content, and contact property (C: contactable / NC: non-contactable).

From the drafting of the new regulations in 2025 to their implementation on June 1, 2026, large and medium-sized coating and adhesive manufacturers have leveraged their prior technical reserves to smoothly adapt to the new standards. They have completed product formulation upgrades, optimized raw material procurement lists, eliminated non-compliant raw materials, and tilted procurement resources towards low-VOC environmentally friendly emulsions. End-user demand remains weak, procurement is only for essential needs, and in the short term, acrylic emulsion market transactions are expected to be dominated by small lots.

4. Weak terminal demand, acrylic emulsion likely to fluctuate weakly

Cost side: Butyl acrylate prices still have potential to decline; styrene is fluctuating downward; MMA may remain firm in the short term before fluctuating based on sales conditions; cost-side support is limited. Supply side: Emulsion plant capacity utilization may remain at low-to-medium levels, with spot supply relatively stable. Demand: The short-term impact of the new policy implementation is relatively weak, though it promotes industrial chain optimization to some extent. Entering the rainy season, construction activities are restricted in many regions, leading to weaker demand expectations. The market trading atmosphere will continue to be subdued, with market participants generally holding bearish or wait-and-see attitudes. In summary, the acrylic emulsion market is likely to undergo weak consolidation in the short term.