Vinyl Ester Resin Price Trend and Forecast

Vinyl Ester Resin Regional Price Overview

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

Vinyl Ester Resin Price Trend for the Q3 of 2024

Asia

In the Asian market, the prices showed an oscillating trajectory throughout the third quarter of 2024. The prices mirrored the trajectory of its feedstock, epoxy resin, which operated weakly in the said quarter. This limited cost support from the feedstocks, along with high inventories, kept the market at the weaker end.
 

Vinyl Ester Resin Price Chart

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Production plants operated below their capacity as the existing stocks were able to cater to the received demands, which prevented any notable surges in the prices. Though the production costs were slightly relaxed, the falling prices crushed the profit margins of the producers, forcing them to adjust to the market conditions to boost demand and clear the stockpiles. Overall, the prices remained sullen, influenced by the falling prices of feedstocks and subdued demand.

Europe

In Europe, the prices of vinyl ester resin mirrored the price trends of the Asian market during the third quarter of 2024. The fluctuating prices of feedstock epoxy resin kept the manufacturing costs constrained. Along with this, the demand also remained subdued in the said quarter, along with this the troubled construction sector also failed at providing opportunities for any significant increments in prices. These factors kept the prices under check and rendered range-bound fluctuation on the price graph during the said period.

North America

The prices of vinyl ester resin in the North American market witnessed similar trend as other global markets. The prices remained buoyant for the majority part. The major demand for vinyl ester resin comes from the construction and housing sector, as it is utilized for making reinforced concrete, flooring, and building components. According to the housing permit data released by the U.S. Census Bureau, a decline in permits was recorded in the previous quarter. This drop has negatively impacted the demand for vinyl ester resin in the current quarter. Along with this, the supply tightened temporarily due to the shutdown of production plants caused by hurricane season.

Analyst Insight

According to Procurement Resource, the prices are anticipated to exhibit an oscillating pattern in the forthcoming quarter, shaped by regional dynamics, feedstock prices, and logistical challenges posed by the impending winter season.
 

Vinyl Ester Resin Price Trend for the Q2 of 2024

Asia

In the majority of Asian countries, the vinyl ester resin market generally maintained price stability throughout the second quarter of 2024. This stability was attributed to a balanced equilibrium between supply and demand, with feedstock epoxy resin prices following a steady trajectory in the region. The significant demand for vinyl ester resin, driven by its corrosion resistance and mechanical properties, was based on its increased utilization in the automotive sector. Despite strong demand, enterprise shipments were sluggish during the primary downstream composites inventory stage, with small orders placed at low prices. This led to heightened competition at lower price points, prompting traders to maintain vinyl ester resin prices at their current levels.

In China, however, vinyl ester resin prices resonated on the lower end of the pricing spectra due to sufficient supplies and inconsistent support from the feedstock epoxy resin pricing. The demand from downstream sectors utilizing vinyl ester resin, particularly in fiberglass reinforced plastics composites for automotive and construction purposes, was relatively subdued, contributing to the stable pricing trend.

Europe

In European countries, vinyl ester resin prices experienced a slight increase, largely driven by rising freight rates and insufficient inventory levels in the regional market. The surge in demand for ocean freight from Asia, signaling a potential restocking cycle in Europe, combined with North American importers accelerating their peak season demand due to concerns about labor issues or disruptions in the Red Sea later in the year, strained the container market.

This strain was further compounded by the redirection of shipments from the Red Sea, leading to higher import costs for raw materials in Europe. The feedstock epoxy resin prices, however, remained stable, supported by consistent supply-demand dynamics. Despite these factors, demand for vinyl ester resin in Europe remained sluggish, particularly in the downstream composite manufacturing sectors like construction and automotive, impacting the overall pricing trend.

North America

Throughout the second quarter of 2024, the price trend of vinyl ester resin in North America adopted a mixed stance as the key drivers of the market presented several uncertainties. The trend was largely influenced by the lack of interest of downstream industries and slightly overpowering production rates. This created an imbalance in the supply-demand sectors of the market, challenging the overall momentum of the market. Further, the depreciation in the overall momentum of the feedstock sector extended only limited support for the market, reflected in the oscillating pricing patterns of vinyl ester resin.

Analyst Insight

According to Procurement Resource, the price of Vinyl Ester Resin is expected to follow the weak trail of its feedstock industries and the lack of procurement momentum of its downstream industries.
 

Vinyl Ester Resin Price Trend for the Q1 of 2024

Asia

Vinyl Ester Resin saw a very mixed market performance during the first quarter of 2024. Asian markets, particularly the Chinese, started slow at the beginning of the quarter in January’24. During the said quarter the whole petrochemical industry was going through an upsurge as OPEC+ announced a price hike for crude oil prices.

This move raised the upstream manufacturing costs for petrochemical products in general. Initially, the inventories were still glutted, and consumer demands were low because of the Chinese New Year holidays. However, as the demands started stabilizing and the domestic trade started to normalize, the price trajectory started seeing normal growth. The price pattern was wavering, and the incline was limited within a narrow range.

Europe

In the European market, the inline in crude oil and energy costs had a huge impact. Increased production and processing costs pushed the prices in a forward direction. Demands were mostly steady and modest. However, the tightening trade situation made procurement a little difficult for the regional suppliers. Hence, the vinyl ester resin prices went on an upward oscillating trajectory in the European market as well. There were some occasional dips; however, the general market sentiments remained lukewarm for vinyl ester resin during the said period.

North America

The market performance of vinyl ester resin in the North American region was also appreciated during the first three months of 2024. Domestic demands were largely able to sustain the price patterns in a favorable manner. However, feedstock epoxy resin and methacrylic aid had some conflicting patterns here and there since they provided a reverse push to the market occasionally. However, the general market sentiments still remained largely lukewarm as the energy and manufacturing costs remained inclined for the majority of the said time period. Conclusively, a highly varying price trajectory was noticed.

Analyst Insight

According to Procurement Resource, the Vinyl Ester Resin price trends are likely to continue fluctuating in the coming months as well. The macroeconomic indicators do not suggest much deviation from the current market trends.
 

Vinyl Ester Resin Price Trend for the October - December of 2023

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Asia

During the fourth quarter of 2023, pricing movements in the Asian vinyl ester resin market were closely associated with developments in the construction, fiber, and plastics industries. The wavering pattern on the vinyl ester resin price graph depicted the trend observed in these industries.

The exports from the Asian ports also saw a significant reduction in their volume as the Houthi attacks over the Red Sea routes and drought-like conditions in the Panama Canal raised tensions in the trading sectors. The downstream industries also witnessed a lukewarm trend in their own development rates and thus could offer the vinyl ester resin market minimal support only. While other Asian nations struggled with limited raw material supplies and adverse weather, India saw a notable uptick in the construction industry.

Europe

The price of vinyl ester resin in Europe showed comparable patterns at the start and finish of the fourth quarter, interspersed by a brief period of respite. The downstream industries' efforts to drive prices higher led to a series of inclines in November. However, at the conclusion of the quarter, market expansion was offset by inflation and rising interest rates. Further, the vinyl ester resin price trend also bore the negative effects of the rising tensions between Israel and Hamas and the rise in sanctions over trade with Russia.

North America

Similar price fluctuations for vinyl ester resin were observed in North America during the quarter, which was supported by higher demand from downstream sectors. The building industry and related sectors endeavored to enhance consumption; however, obstacles such as reduced production costs and export difficulties hindered the vinyl ester resin market's comeback. The reduction in the cost of crude oil and the low influx of raw materials in the region also had a significant impact on the trajectory of vinyl ester resin price trend.

Analyst Insight

According to Procurement Resource, the price trend of Vinyl Ester Resin are expected to follow a downbeat trend in the upcoming quarters as the demand from the end-user industries and the performance of the global crude oil prices seem unlikely to improve.
 

Vinyl Ester Resin Price Trend for the July - September of 2023

Asia

The Asian markets of vinyl ester resin oscillated in view of sluggish demand and poor economic growth. The trend was stable during the initial phase of the third quarter in India as, during this time, the available stockpiles were insufficient to cater to the demand from the downstream industries.

However, the consumer sentiments shifted mid-quarter, and the rates of procurement suddenly took a southwards turn, leading to a fall in the vinyl ester resin price trend. A slight improvement in the functioning of the vinyl ester resin market was seen at the end month as the rise in feedstock cost and slow rise in demand supported the surge in vinyl ester resin prices.

Europe

The consistent fall in the vinyl ester resin price trend in European countries was based on the feeble condition of the downstream industries. The European economy still seemed to be in the middle of a long conflict, which posed to be a challenge for the traders and manufacturers. Additionally, the weak economic growth also resulted in skepticism in the consumer sector as they appeared to be hesitant about ordering the product in bulk and thus contributing significantly towards the downfall of vinyl ester resin prices.

North America

A significant decline in the number of new orders and negligible inquiries from the downstream industries caused the vinyl ester resin price graph to follow a negative trajectory. The lowering of downstream demand restricted the trading activities that had an adverse effect on vinyl ester resin price trend. Further, the persistent economic crisis in the region and no improvement in the activities of the construction sector led to the downfall in the vinyl ester resin price trend.

Analyst Insight

According to Procurement Resource, the price trend of  Vinyl Ester Resin are expected to decline in upcoming quarters as the trend seem to be unsupported by current dynamics of demand and the performance of the global economy.
 

Vinyl Ester Resin Price Trend for the First Half of 2023

Asia

The negative outlook of the consumer market led to a fall in the price trend of vinyl ester resin in the first and second quarters of 2023. The slow movement of the construction and automotive industries and the general weak performance of the global economy severely affected the growth of prices of vinyl ester resin. Additionally, the feedstock market also failed to provide the required support, and with the ample availability of products in the region, increasing competitiveness and reduced appetite of buyers further pushed the price trend of vinyl ester resin towards a southward trajectory.

Europe

In the first quarter of 2023, the prices of vinyl ester resin suffered from the low interest of consumers and, in turn, weak demand from the downstream industries. The decline in the housing sector and rise in interest rates due to soaring inflation increased the pressure on the market of vinyl ester resin.

The prices of vinyl ester resin also struggled with the high cost of living, restricted trade activities, and feeble economic growth of the market, which eventually led to a decline in the trajectory of its price trend. However, the prices improved gradually towards the end of the second quarter but suffered in the initial months due to muted demand from the automotive and construction industry, along with the rising uncertainties in the feedstock market.

North America

With the excess availability of vinyl ester resin in the region and the disruption of the supply-demand equilibrium due to a reduction in demand from the downstream industries, the price trend of vinyl ester resin declined in the first quarter of 2023.

The second quarter was also negatively impacted by the falling costs of feedstock materials, high supply, and economic disruptions attributed to the failure of two major banks in the region. The growth rate of the construction sector and a wide gap between supply and demand ultimately caused the price trend of vinyl ester resin to fall in both the first and second quarters of 2023.

Analyst Insight

According to Procurement Resource, the price trend of Vinyl ester resin is expected to showcase a depreciation in the prices as the construction and automotive sectors and the global economy seem to have a long journey of recovery.

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