[Introduction] Entering April 2026, the domestic acrylic acid market ended its previous strong uptrend and has entered a continuous downward channel. Persistent weakness in terminal demand has become the core driver of the market's decline, coupled with a gradual loosening of supply. This has led to a rapid reversal of the market's supply-demand balance, pushing the industry into a phase of cyclical adjustment.

I. Price Trends: High-Level Retreat and Consecutive Declines

In April 2026, the Chinese acrylic acid market continued its downward trend. In East China, market prices fell from 11,850 yuan/ton at the start of the month to 10,000 yuan/ton by month's end, a decline of 15.61%; in South China, prices dropped from 11,700 yuan/ton to 10,250 yuan/ton, a decline of 12.39%; while in North China, prices slipped from 11,450 yuan/ton to 10,000 yuan/ton, a decline of 12.66%. Regions generally exhibited volatile downward movements, with market sentiment gradually weakening.

II. Core Drivers: Weak Demand and Supply-Demand Imbalance

The gradual loosening of supply was a key factor putting pressure on the market this month. As the spring maintenance season concluded, overall operating rates in the industry steadily recovered. Major producers maintained stable plant operations, resulting in ample spot supply. Producers and holders showed increased willingness to sell, with offers generally featuring concessions. However, persistently weak follow-through from downstream demand became the primary factor driving the market's consecutive decline. Operating rates in downstream sectors such as coatings, adhesives, SAP, and textile auxiliaries declined. Additionally, the sharp surge in raw material prices earlier in the year, with significant gains recorded, pushed downstream costs higher. This led to a substantial decrease in downstream acceptance of high-priced raw materials, with procurement mainly limited to essential, small-volume replenishments and overall trading remaining sluggish. Furthermore, the coatings sector was dragged down by sluggish recovery in real estate and home decoration demand, resulting in weak end-user orders. Demand growth in specific segments like adhesives and SAP also slowed. The cost transmission chain in the industry encountered obstacles, further dampening enthusiasm for raw material purchases. The supply-demand conflict intensified through April, collectively driving the continuous and gradual decline in acrylic acid prices, creating a clear "strong supply, weak demand" market pattern.

III. Future Outlook: Short-Term Weak Consolidation Likely

It is highly probable that the acrylic acid market in East China will continue to operate weakly in the near term. Although propylene prices offer some support, acrylic acid producers are mainly offering flexible quotes, contributing to a cautious and wait-and-see market atmosphere with heightened bearish sentiment. Demand from downstream sectors such as specialty esters and SAP remains mediocre, with follow-through on end-user orders still insufficient and lacking substantial catalyst from the demand side. Overall, acrylic acid prices still face certain downward pressure. It is recommended to monitor developments in plant operations, cost changes, and downstream replenishment pace.