Epoxy Resin Price Trend

Epoxy Resin Prices December 2023

The price of epoxy resin in the USA for Q4 2023 experienced a 16% decline as compared to the same quarter in previous years and reached 4212 USD/MT [Epoxy Resin Liquid (EEW 176-183)] in December 2023. Low demand and ample supply of epoxy resin in the market resulted in decreased prices. As a result, the epoxy resin market in the country witnessed a bearish trend during this quarter.

During the fourth quarter of 2023, the epoxy resin market in Japan witnessed a downward trend due to the abundant supply of epoxy resin and declined prices of upstream crude oil. The price of epoxy resin in December 2023 reached 3768 USD/MT [Epoxy Resin Liquid (EEW 176-183)] with a 3% decrease as compared to the previous year.

In Germany, the epoxy resin market reached 3363 USD/MT (Epoxy Resin Liquid), as a result of 31% decline in prices as compared to the same quarter in the previous year. The market in Germany faced destocking activities, which negatively impacted the prices of epoxy resin. In addition, disruptions of supply chain created several challenges for epoxy resin market in the country.

Epoxy Resin Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Epoxy Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of epoxy resin pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of epoxy resin at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of epoxy resin price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing epoxy resin price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Epoxy Resin Market Analysis

The global epoxy resin market size reached US$ 13.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 22.7 Billion, at a projected CAGR of 5.60% during 2023-2032.

• Epoxy resins have excellent adhesion, durability, versatility, and corrosion resistance, which makes them highly valuable to produce protective coatings for metal, concrete, and wood.
• As per IMARC Group’s report, the global buildings construction market is expected to exhibit a growth rate (CAGR) of 5.13% during 2024-2032. Epoxy resins are utilized in concrete repairing, adhesives, and flooring on account of their high chemical resistance and mechanical strength.
• Epoxy resins are gaining traction, as they serve a vital role in producing lightweight composite materials in the aerospace and automotive industries. Moreover, there is a rise in the demand for fuel-efficient and high-performance materials to reduce weight and improve durability of aircraft and vehicles.
• The market share is also expanding owing to epoxy resin’s increased demand in the electrical and electronics industry, where they are leveraged for their electrical properties and thermal stability.
• According to the International Energy Agency’s (IEA) report, sales of electric cars increased from 9% in 2021 to 14% in 2022. Epoxy resin demand is further propelled by its employment in electric cars to encapsulate and collect battery packs. Their ability to offer electrical insulation and protection against moisture makes them essential for manufacturing electric cars around the world.
• Key players are investing in research and development (R&D) activities to introduce bio-based variants of epoxy resins. They are also focusing on improving the chemical and thermal resistance properties of epoxy resins.
• People are preferring renewable energy resources to reduce the dependence on fossil fuels and lower carbon emissions. As a result, there is an increase in the demand for epoxy resins, as it is used in manufacturing wind turbine blades on account of its enhanced fatigue resistance and strength.
• The epoxy resin production has witnessed an upward trend, which can be attributed to innovations in composite technology, especially in carbon and glass fiber reinforced plastics.

Epoxy Resin News

The report covers the latest developments, updates, and trends impacting the global epoxy resin market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in epoxy resin production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the epoxy resin price trend.

Latest developments in the epoxy resin industry:

• In 2022, Westlake Chemical Corporation acquired the global epoxy business of Hexion Inc., as all the industries severed by Hexion will bring numerous market opportunities for Westlake.
• In 2021, Covestro acquired the business of resins and functional material from Royal DSM company to strengthen its portfolio of sustainable coating resins.

Product Description

Epoxy resins possess enhanced mechanical properties, heat and chemical resistance, adhesive strength, and electrical insulation characteristics, which make them suitable for various industrial applications. Structurally, they are produced via polymerization, where monomers form long and chain-like molecules by linking together. This linking capability further contributes to their high thermal stability and moisture resistance properties.

They serve as a crucial raw material in the construction industry to protect metal, concrete, and other surfaces from environmental conditions, highlighting the versatile nature of the compound. Their effectiveness in manufacturing lightweight and durable materials for aircraft and automotive parts is further catalyzing their demand in these sectors. Epoxy resins also play a pivotal role in delivering insulation to electric motors in electric vehicles (EVs) against heat, corrosion, and vibration.

Regional Coverage

The report provides a detailed analysis of the epoxy resin market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the epoxy resin price trend.

Global Epoxy Resin Price

The report offers a holistic view of the global epoxy resin pricing trends in the form of epoxy resin price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of epoxy resin but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed epoxy resin demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Epoxy Resin Price

During the fourth quarter of 2023, the epoxy resin market faced numerous challenges in Europe due to low demand from the paint and coatings industry. Disruptions of the supply chain in several countries and bearish market strategies adopted by key players also negatively impacted the market in the region. However, economic development and increased demand from the construction industry supported the slight growth of the market.

This analysis can be extended to include detailed epoxy resin price information for a comprehensive list of countries.

North America Epoxy Resin Price

In North America, the epoxy resin market witnessed a downward trajectory in Q4 2023 due to several factors, such as decreased demand from the construction industry. During this period, manufactures produced ample quantities of epoxy resins with expectation of high future demands. However, surplus availability of the product resulted in downward price trend in the region. As a result, the market experienced 28% decline in prices as compared to previous years.

Specific epoxy resin historical data within the United States and Canada can also be provided.

Middle East and Africa Epoxy Resin Price

The report explores the epoxy resin pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on epoxy resin prices for countries can also be provided.

Asia Pacific Epoxy Resin Price

The epoxy resin market in the Asia Pacific region experienced a bearish sentiment in December 2023, as the production of epoxy resin increased due to the reduced prices of upstream crude oil. Countries like China and Japan witnessed a downward trajectory owing to low demand and high supply. On the contrary, India enjoyed stability in the demand of epoxy resin on account of economic developments in the country.

This epoxy resin price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Epoxy Resin Price

The analysis of epoxy resin prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of epoxy resin pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting epoxy resin price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The epoxy resin price charts ensure our clients remain at the forefront of the industry.