Unsaturated Polyester Resin Price Trend and Forecast

Unsaturated Polyester Resin Regional Price Overview

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

Unsaturated Polyester Resin Price Trend for the Q3 of 2024

Asia

In the Asian market, unsaturated polyester resin prices displayed a mixed trajectory throughout the given quarter. The fluctuating prices of feedstocks imparted similar patterns on Unsaturated polyester resin’s price graph and prevented any dramatic increase in the prices. The demand side remained weak, continuing the trend from the previous quarter concurrently the downstream industries rejected the higher prices, and the purchases were made on-demand in anticipation of further decreases in the prices.
 

Unsaturated Polyester Resin Price Chart

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Along with this, there was an ample supply of unsaturated polyester resin in the market, forcing the traders to sell at lower prices. As the quarter progressed, the manufacturers adjusted to the demand in the market, and the prices normalized. Overall, the market maintained a sub-par outlook at the start of the quarter, which slightly normalized around the quarter-ending days after manufacturers made some adjustments.

Europe

In Europe, unsaturated polyester resin prices showed an oscillating trajectory in the third quarter of 2024. The resin market remained relatively stable despite the weak demand from the construction sector. The demand remained subdued in the said quarter, and the troubled construction sector provided low opportunities for any significant improvements in prices. Along with this, the economy was still in the recovery phase after facing significant supply disruption in the previous quarter. Overall, the market showed a steady pricing pattern with occasional fluctuations influenced by demand and supply mismatch.

North America

The North American market for unsaturated polyester resin mirrored the trends of Asian and European markets in the third quarter of 2024. The resin market showed a fluctuating trend influenced by weak demand and supply challenges. According to a recent report from the U.S. Census Bureau, a decline in housing permits in the previous quarter was seen, leading to a decline in demand for resins as they are primarily used in making building materials, such as concrete additives and coatings. Apart from this, the hurricane season further complicated the market dynamics, creating supply and logistical challenges.

Analyst Insight

According to Procurement Resource, the prices of unsaturated polyester resin are expected to show a fluctuating trend influenced by regional variations in demand and evolving macroeconomic global order with continuing unrest in the Middle East.
 

Unsaturated Polyester Resin Price Trend for the Q2 of 2024

Asia

In Asia, the unsaturated polyester resin market experienced a downward price trend as Q2 2024 drew to a close. This decline was driven by increased supply pressures and weakened downstream demand, particularly from the construction sector. The reduced demand depreciated the overall market sentiments, leading to a significant drop in futures prices at the beginning of June, which continued to fall further by the end of the month. The overall weak performance of the Asian chemical sector, coupled with resistance to high prices from downstream industries, resulted in loosening domestic spot market quotations.

As the trading and manufacturing sectors sorted out ways to reduce their inventory's rigid demand and weak macroeconomic sentiment, the market performance for unsaturated polyester resin depreciated. However, in the initial phase of the quarter, the market dynamics showcased stability but the slow recovery of the end user industries after the the May Day holidays and cautious approach of overseas players amid escalating cost of transportation exerted a negative pressure on the unsaturated polyester resin market.

Europe

The Asian shipments of unsaturated polyester resin slowed due to the tepid demand from the downstream industries in the European countries, leading to a noticeable build-up of inventory. Despite the stable outlook of the Asian construction sector, inventory levels continued to rise at a much faster pace towards the end of the quarter. The domestic manufacturers in the region further increased their operating loads, which led to a rise in market supply. However, the sluggish demand for polymers, coupled with a minor positive change in construction sector demand, prompted purchases based on necessity. As a result, new orders from manufacturers remained average, and overall inventory increased.

North America

In North America, adverse weather patterns and rigid demand led to average shipments and a rising overall inventory of unsaturated polyester resin. Although supportive real estate policies boosted future demand expectations for unsaturated polyester resin, the export volumes of the region did not show significant improvement. Similar to the European nations, the manufacturers increased their operating loads, resulting in a rise in market supply. However, the sluggish demand for polymers and weak support from the economic sector of the region prompted the unsaturated polyester resin market to adopt a southward stance.

Analyst Insight

According to Procurement Resource, the price of Unsaturated Polyester Resin is estimated to be driven by the gradual improvement in the feedstock industries but is likely to be challenged by the weak stance of the end-user sector and the frail outlook of global trading activities.
 

Unsaturated Polyester Resin Price Trend for the Q1 2024

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Asia

The complex dynamics of supply and demand guided the pricing trajectory of unsaturated polyester resin during the first quarter of 2024. The market received ample support from the upstream crude oil market as its limited supply shot up the production costs. Whereas the initially frail-looking downstream industries picked up momentum towards the latter end of the quarter, further asserting a positive influence on the overall market sentiments of unsaturated polyester resin. However, for a brief period, the Chinese market also struggled with the influx of cheap imports that strained the domestic markets, but eventually, the pricing quotations evened out and helped in the northward movement of the prices of unsaturated polyester resin.

Europe

In the European countries, bullish sentiments prevailed in the unsaturated polyester resin market as the prices of the commodity inclined. Initially, the market received ample support from the escalating cost of production which in turn was influenced by the rising prices of major feedstock commodities. Further, the escalating tensions in the Middle East, OPEC cuts, and strained relations of the European countries with Russia constricted the functioning of supply chains and eventually depleted the inventories. Amid these adverse circumstances, the procurement rates of unsaturated polyester resin from both domestic and overseas markets remained healthy. Even the surge in transportation charges and trading disruptions failed to hamper the number of new orders, giving a boost to the pricing of unsaturated polyester resin.

North America

The North American market of unsaturated polyester resin followed a similar trail as was observed in the Asian and European countries, with prices moving northwards throughout the first quarter of 2024. The primary contributor to this pricing trajectory was the sudden surge in the production cost as the procurement of crude oil became much more challenging with the announcement of OPEC+ cuts. In addition to this, the market also struggled to acquire Asian produce, as the surge in shipping cost made the domestic produce much more lucrative and sustainable.

Analyst Insight

According to Procurement Resource, the price of Unsaturated Polyester Resin is expected to improve gradually in the forthcoming quarters as an optimistic scenario of growing demand for the commodity and rising trading disturbances will imbalance the supply-demand curve around the globe.
 

Unsaturated Polyester Resin Price Trend for the Second Half of 2023

In the early months of the second half of 2023 in Asia, the pricing trends of unsaturated polyester resin experienced a slight decline, attributed to a downturn in the final month of the previous quarters. Contrary to expectations, these trends gradually rebounded as the quarter progressed. The upward trajectory was primarily fueled by substantial demand from the automotive and polymer industries, augmented by government initiatives, particularly in China, which further propelled the industry's momentum.

Traders noted a resurgence in consumer confidence within the unsaturated polyester resin market, evidenced by increased sales of derivative products. However, minor fluctuations restrained the market from realizing its full potential.

In Europe, unsaturated polyester resin prices saw a significant uptick in the third and fourth quarters of 2023, in line with increased market momentum in allied industries like filament yarns. Favorable investor and consumer sentiments maintained this upward trend, leading to increased new orders from downstream textile and related industries.

Higher expenditures and the development of manufacturing activities supported the demand for unsaturated polyester resin. Nonetheless, the European economy faced obstacles from diminished exports due to the closure of the Red Sea route and persistent inflationary forces.

In North America, the latter quarters of 2023 presented a generally favorable outlook for unsaturated polyester resin prices despite market dynamics not showing significant growth. An uptick in end-user businesses and consumer spending fueled market activity, with traders stockpiling ahead of anticipated price increases in the upcoming year due to decreased production costs and increased demand for unsaturated polyester resin.

Analyst Insight

According to Procurement Resource, the price of Unsaturated Polyester Resin is estimated to continue its northward trend as the favorable outlook of the downstream industries and expanding polymer industries will support the growth of unsaturated polyester resin market momentum.
 

Unsaturated Polyester Resin Price Trend for the First Half of 2023

Unsaturated Polyester Resin market experienced fluctuations during the first two quarters of 2023. The price trend followed the variations in the downstream plastics, moldings, sanitary ware, coatings, and adhesive industries and the feedstock PET (Polyethene terephthalate) prices.

In the Asian Unsaturated Polyester Resin market, the first quarter was a little stable compared to the second. The industrial revival in China in the post-lockdown era promoted manufacturing activities, and the steady demands supported the Unsaturated Polyester Resin market fundamentals.

However, the excess supplies soon started causing price depreciation since the global outlook was depressing throughout. The American and European Unsaturated Polyester Resin markets were stumbling for the entire period as the construction sector was struggling because of the striking inflation rates. Overall, mixed market sentiments were observed.
 
Analyst Insight

According to Procurement Resource, the price trend for Unsaturated Polyester Resin are likely to remain uncertain in the coming months, given the current market dynamics. Feeble demands are likely to drive the market fundamentals.
 

Unsaturated Polyester Resins Price Trend for the Second Half of 2022

Asia

The prices of Unsaturated Polyester Resins (UPR) declined in the Asia-Pacific region. The declining trend was due to the gradual falling costs of raw materials. Another major factor contributing to this negative price trend of Unsaturated Polyester Resins was low demand from the end-user industries. The fourth quarter was also similar as the downstream industry demand remained sluggish and falling crude oil prices, supply chain disruptions and covid restrictions further aided the declining prices.

Europe

The European region showcased a mixed outlook in terms of prices of Unsaturated Polyester Resins. The prices surged as a result of the incline in the prices of energy cost production considering the price rise of petrochemical products. The port congestion activities in the third quarter halted trading activities. In the fourth quarter, the sluggish demand from the automotive sector doomed the price trend for Unsaturated Polyester Resins in the European region.

North America

The price trend for Unsaturated Polyester Resin showcased an upward trajectory in Q3 for the North American region. The prices increased due to an incline in domestic demand and a rise in the feedstock prices of the commodity. However, the fourth quarter was not so favourable in terms of the UPR prices. The price drop was majorly attributed due to the drop in demand from the automotive industry and rising uncertainties in the prices of crude oil.

Analyst Insight

According to Procurement Resource, the price trend for Unsaturated Polyester Resins (UPR) are expected to showcase a declining trend considering the uncertainties in the feedstock and energy production prices and fluctuating demand from the end-user industries.
 

Unsaturated Polyester Resin Price Trend For the First Half of 2022

After nearly shutting down in January and coming to a complete standstill in late feburary, the Chinese Unsaturated Polyester Resin market began to show signs of recovery in March. Although end-user sectors demand were still poor and downstream industries have not fully recovered, there were encouraging indicators.

Along with increasing domestic market stockpiles, Unsaturated Polyester Resin price trend were low during the said period. Covid's return in China and government restrictions further slowed down trade.

Also, the transportation costs rose as container freight rates increased. Additionally, the crisis between Russia and Ukraine resulted in low export cotton demand and slow yarn trade, which drove up the price of polyester resin averaging 1314-1329 USD/MT FOB Shanghai.

Procurement Resource provides latest prices of Unsaturated Polyester 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.