Epoxy Resin Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Epoxy Resin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Epoxy Resin Price Trend for the Q1 of 2024

Asia

During the previous quarters, the Asian market, particularly China, saw a substantial decrease in epoxy resin prices, which was well transferred in the first quarter of 2024, too, due to surplus supply and subdued demand, leading to low exports and high imports. The inventories further inclined with the advent of new production plants in China, disrupting the supply-demand dynamics of the region.

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To manage inventory pressure, traders introduced discounts over bulk purchases which eventually resulted in the decline of epoxy resin price trend. However, during the initial phase of the quarter, India experienced a price increase attributed to rising costs of feedstock ethylene and propylene despite only moderate domestic demand, notably from the paints and coatings sector. Additionally, expensive imports and increased freight rates further influenced pricing dynamics as the reliance of the market grew on foreign imports.

Europe

In Germany, the continuous string of oscillations in the epoxy resin prices due to decreased demand from the construction sector amid challenging economic conditions diminished the general functioning of the market.

With the advent of the new year, the manufacturing and trading communities expected the seasonal hike in the demand for epoxy resin, particularly from the automotive sector, but the diminished purchasing activities of the downstream industries only increased the stockpiles of epoxy resin in the region. Additionally, heightened security concerns arose following attacks on commercial vessels in the southern Red Sea, escalating global tensions about potential disruptions in the epoxy resin supply chain.

North America

The effect of the global epoxy resin market was visible in the notable shifts in its prices in North America during the first quarter of 2024. This downturn was primarily driven by reduced demand from the construction sector and rising uncertainties in other downstream industries. The market also bore the consequences of depreciating economic indicators, which further contributed to the stunted growth of the epoxy resin market.

The manufacturing units thus had to introduce practices to optimize overhead costs and reduce their expenditure on production. This move became much more necessary during the end phase of the first quarter as the unbound rise in crude oil prices and limited support from the feedstock market limited the functioning of the epoxy resin market.

Analyst Insight

According to Procurement Resource, the price trend of Epoxy Resin is estimated to be driven by the demand dynamics of the downstream industries and the global trading sentiments in the forthcoming quarters.

Epoxy Resin Price Trend for the October - December of 2023

Asia

The price trend of epoxy resin are dependent on the overall market dynamics of the construction, fiber, and plastics industries. A complex interplay of these industries worked during the fourth quarter of 2023, and thus, the epoxy resin price graph showed zig-zag movement but did not flatter away much from a mean value. Among these downstream industries, the construction sector rose significantly only in India, while the other Asian countries struggled with the limited raw material supply and adverse climate conditions.

Europe

The starting and the end phases of the fourth quarter showed similar trend in the epoxy resin prices. However, there was a moment of relief for the traders during the middle of the fourth quarter. The rise in the epoxy resin price graph during November was based on the efforts of downstream industries as they tried to inch higher. However, towards the end of the quarter, the growth in the epoxy resin market was neutralized by the soaring inflation and interest rates.

North America

The fate of epoxy resin price trend in the US was no different than in the above two regions. Throughout the quarter, the epoxy resin price graph fluctuated but maintained its pace owing to rising demand from downstream industries. The construction and other relevant sectors looked forward to improving their consumption rates. However, export struggles and a decline in the cost of production made the revival of the epoxy resin market a little difficult.

Analyst Insight

According to Procurement Resource, the price trend of Epoxy Resin are expected to follow the trails of the construction and plastics industries in the forthcoming quarters of 2023.

Epoxy Resin Price Trend for the July - September of 2023

Asia

The epoxy resin prices in Asia wavered during the third quarter of the year 2023. The market started on a low note at the beginning of the quarter in July’23. The inventories were overflowing with excess supplies from the previous quarters as the suppliers ordered in bulk, anticipating good amounts of market offtakes. However, the market queries were disappointing compared to the estimates.

This led to a swift decline in prices in the first half of the quarter. The second half, though, was more favorable from the epoxy resin trade point of view. Consumer demands finally started to pick up, and the epoxy resin price graph inclined steadily in the latter half of the quarter. Overall, the general market sentiments were observed to be positive for the majority of the discussed period.

Europe

Contrary to the Asian epoxy resin market, the European market trend were bearish throughout. The price graph wavered at the lower end for the majority of the discussed period. The demand spectrum remained feeble. The saturated inventory levels, too, supported the sluggish trend. The feedstock material bisphenol-A provided some upstream cost support, but the falling demands rendered it irrelevant. Overall, muted market sentiments were observed.

North America

The North American epoxy resin market was in strict compliance with the Asian epoxy resin markets. Market dynamics were better in the second half of the quarter than in the first half. Overall, mixed market dynamics were observed.

Analyst Insight

According to Procurement Resource, the price trend for Epoxy Resin will continue to waver in the upcoming months. The uncertainties in the market offtakes will guide the epoxy resin price sentiments.

Epoxy Resin Price Trend for the First Half of 2023

Asia

The Asia Pacific markets of epoxy resins witnessed a gradual decline in their price trend in the first quarter of 2023, while a steep one in the second. The significant cause of this decline in the first quarter was the weak momentum of feedstock materials, the drop in demand from the downstream sector, and the surplus supply of the product in the region.

In the second quarter, along with the downstream industries, the upstream industries, such as propylene, offered low-cost support. The rates of exports to the US and Europe also fell amid the slowing down of the global economy, leading to a decline in the price trend of Dysprosium oxide.

Europe

The price trend of epoxy resins followed a bearish stance in the first two quarters of 2023. The market suffered from the drop in prices of upstream products and oversupply of the epoxy resins derivatives while their demand from industries such as petroleum was on the lower side. In addition to this, the challenging market conditions, such as a rise in the level of inflation, high-interest rates charged by banks to support the falling economic conditions, and the pessimistic attitude of buyers caused the level of inventories to rise and the price trend of epoxy resins to decline.

North America

The sluggish market sentiments of the North American epoxy resins market force its price trend to move southwards in the first two quarters of 2023. In both quarters, the cost of feedstocks took a deep downward path, and along with high disruptions in the feedstock material’s costs, the prices of epoxy resins struggled to maintain their pace. The demand for epoxy resins declined as a result of a shortage of labor and a financial crisis caused by the failure of two major banks, which was evidently reflected in the downfall of epoxy resin prices.

Analyst Insight

According to Procurement Resource, the price trend of Epoxy Resin is expected to be hampered by weak rates of procurement from the downstream industries and challenging global economic conditions.

Procurement Resource provides latest prices of Epoxy Resin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.