Melamine Resin Price Trend and Forecast

Melamine Resin Regional Price Overview

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

Melamine Resin Price Trend for the Second Half of 2023

Asia

The prices of melamine resin dipped in the third quarter after a fruitful run during the second quarter of 2023. The prices were dependent on the positive number of inquiries received by the downstream industries and oscillations in the feedstock industries. But soon, the market negotiated towards the lower end of the spectrum on account of contraction in the procurement rates of the pharmaceutical industries and declining prices of feedstock materials. The sudden loss of shipments in the fourth quarter due to the disruption of the Red Sea route further raised the concerns of the traders and the oscillations in the melamine resin price trend.
 

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Europe

In European countries, the market moved upwards on the back of the rising cost of feedstock materials. The inclination in the lending rates by the banking sector further increased the cost of production, which was eventually reflected in the rise of melamine resin prices. Additionally, the inclination in the cost of energy production and transportation costs helped in the surge in melamine resin prices. However, the second quarter witnessed only moderate demand, a significant reduction in the number of new orders, and weak momentum of the upstream crude oil and feedstock sectors. These challenging conditions thus prompted the traders to reduce their melamine resin price quotations.

North America

The positive trend in the melamine resin market was supported by the inclined interest of consumers in this sector during the third quarter of 2023. The additional enhancement in the market dynamics came in the form of the rising prices of feedstock materials and the strong number of orders from overseas industries. But the sentiments shifted in the negative direction after the Christmas holidays. Many industries witnessed stagnancy in their activities due to the onset of the winter holiday season, depreciating the melamine resin prices.

Analyst Insight

According to Procurement Resource, the price trend of Melamine Resin is estimated to swindle with the fluctuations in the feedstock prices and contraction in global demand.
 

Melamine Resin Price Trend for the First Half of 2023

Asia

The Melamine Resin experienced a low swinging market behavior in the Asian, prominently the Chinese market. Dull demands from the coating and molding industries were responsible for feeble market sentiments. The inventories were already high since the economic exchanges in the Chinese domestic market were very limited because of repeated hindrances due to the COVID-19 lockdowns. Cheaper crude oil imports from Russia also reduced the upstream cost support. Hence, the already existing stockpiles lowered upstream, and production costs coupled with dull demands pushed the Melamine Resin prices down.

Europe

In the European market, Melamine Resin experienced a mixed price pattern. The first quarter started slow, owing to the dull downstream demands as the entire region was struggling with high inflation and an energy crisis, which impacted the purchasing capacities of the consumers. However, as the quarter shifted, the market momentum around Melamine Resin also shifted, and prices were set on an inclined trajectory. So, a fluctuating market behavior was observed during the said period.

North America

In North America, the price trend for Melamine Resin replicated that of its European counterpart during the first half of 2023. Feeble demands kept the market sentiments dull in the first quarter, whereas high feedstock costs raised the production costs in the second quarter, pushing up the prices. Overall, a very mixed market behavior was observed for Melamine Resin during H1’23.

Analyst Insight

According to Procurement Resource, the price trend for Melamine Resin are expected to remain unsettled in the upcoming months since the fluctuations in feedstock costs and downstream demands will continue to guide the market trend.
 

Melamine Resin Price Trend for the Second Half of 2022

Asia

The melamine resin registered a muted market sentiment in Q3 2022. High inflation and the Chinese lockdown to contain Covid 19 pandemic affected consumer purchasing behaviour a lot. The purchasing behaviour became more essential-centric, which caused low demand for melamine products in the market. Fluctuation in feedstock urea prices further impacted the prices of Melamine Resin. Overall melamine prices observed a falling trend in the Asian market.

Europe

The European market replicated the price trend as seen in its Asian counterpart. The demands from end consumers barely existed which coupled with the surplus availability of raw materials negatively impacted the prices. With the negative upstream cost pressure, melamine resin prices registered a declining trend in H2 2022.

North America

The North American market behaved no differently from the global outlook. The sullen downstream demands amid stockpiling inventories caused the prices to decline. In order to make room for the new production the manufacturers actively participated in destocking, thereby causing the prices to fall further. The hiked interest rates and falling consumer confidence coupled with looming speculations of a global recession kept the price trend for melamine resin on a lowered trajectory.

Analyst Insight

According to Procurement Resource, the market for Melamine Resin is likely to remain weak and volatile in the coming quarter. The prices will entirely depend on how fast the demand rebounds provided that all the other variables like availability of raw materials, logistics, etc., keep constant.
 

Melamine Resin Price Trend For the First Half of 2022

Asia

Due to solid demand fundamentals, melamine resins prices in China increased by more than 2% in the first few days of February. Manufacturers of melamine were forced to maintain price increases due to the ongoing increase in urea costs and the high level of demand from both the domestic and global markets.

At the end of Q1, melamine was reported to cost 1765 USD/MT FOB Qingdao,China. Melamine resin price trend faced unfavourable market sentiments in the second quarter of 2022. Due to the bearish production cost of melamine following the price trajectory of the previous quarter, prices were already on the lower side in the first half.

Europe

As tensions between Russia and Ukraine grew, the price of melamine resins unexpectedly rose in the European market in the first half of 2022. Spot offtakes continued to be strong, and a sizable plant turnaround kept prices high. At the end of March , the price of melamine resins in Germany increased by close to 300-350 USD/MT from the previous quarter.

Due to increased consumer demand and a change in the price trend for foreign suppliers, Melamine prices in Q2 2022 remained on the high range. The quarter saw a sharp increase in exports from Germany and the Netherlands to other European nations as upstream laminate industries' high demand drove up prices even more.

North America

In Q1 2022, the Melamine resin market was affected by logistics difficulties, expanded production cost and rising contract prices. Due to the USA's natural gas shortages, US melamine suppliers had to contend with an unexpected change in urea costs and decreased production rates. Melamine resin prices fell in April of Q2 2022 as a result of waning consumer demand and expanding production facilities.

Melamine's manufacturing facilities reduced operational costs in Q2 2022, which lowered prices for local and international suppliers. Prices increased at the end of the quarter as a result of strong domestic demand and changes in the price of the feedstock methanol.

Procurement Resource provides latest prices of Melamine 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.