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Epoxy Resin Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22466
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Epoxy Resin Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Epoxy Resin | Polymer & Resin | USA | 4212 USD/MT [Epoxy Resin Liquid (EEW 176-183)] |
| Epoxy Resin | Polymer & Resin | Japan | 3768 USD/MT [Epoxy Resin Liquid (EEW 176-183)] |
| Epoxy Resin | Polymer & Resin | Germany | 3363 USD/MT (Epoxy Resin Liquid) |
The epoxy resin prices in the United States for Q4 2023 reached 4212 USD/MT in December. In the Q4 2023, the epoxy resin industry in the USA saw a significant price drop driven by a reduction in demand and high supply levels. Challenges in the construction industry reduced buying interest, and an oversupply of epoxy resin exerted downward pressure on prices.
The price trend for epoxy resin in Japan for Q4 2023, reached 3768 USD/MT in December. The Japanese market faced a downturn in the last quarter of 2023, with prices falling due to an oversupply. Despite stable demand, the surplus caused a bearish trend, reflecting a decrease in prices and market challenges.
The price trend for epoxy resin in Germany for Q4 2023, reached 3363 USD/MT in December. Germany's epoxy resin industry experienced price declines in Q4 2023, impacted by weak demand and supply chain issues. Destocking activities in the region led to lower prices, though there was cautious optimism for future economic improvements.
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 the current price but also provides insights into epoxy resin historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into epoxy resin 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
The European market faced challenges in the fourth quarter of 2023, marked by a downward pricing trend. Weak interest from the paint and coating sector and supply chain interruptions, particularly in Germany and Belgium, contributed to the market's bearish sentiment. Germany, as a major market, experienced price impacts from destocking activities. Despite these issues, there was some optimism due to anticipated economic upturn and growing interest from the construction field. Overall, the market struggled due to weak demand and distribution chain disruptions but showed signs of recovery towards the end of the quarter.
This analysis can be extended to include detailed epoxy resin price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Epoxy Resin Price
In the fourth quarter of 2023, the epoxy resin market in North America faced a downward trend influenced by various factors. The primary issue was a drop in demand, mainly due to setbacks in the building sector, which led to reduced interest from end-users. The market saw an oversupply as manufacturers continued production, expecting future needs, but the excess supply pushed prices downward. This resulted in a significant drop in epoxy resin rates, especially in the United States, where the market saw a considerable decline. Overall, the quarter was marked by reduced demand, high supply, and a notable decrease in prices.
Specific epoxy resin historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
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.
| Region | Countries Covered |
|---|---|
| Middle East and Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Epoxy Resin Price
During Q4 2023, the Asia-Pacific market experienced a decline in prices due to a surplus in supply. This oversupply was driven by a drop in upstream crude oil prices, affecting markets in countries such as China and Japan. Conversely, demand remained stable across India, where expectations of economic improvement supported a more stable market. In Japan, the market saw a bearish trend with significant price decreases, reflecting ample supply and a stable demand situation. Despite stable demand in some regions, the overall trend in APAC was a decrease in epoxy resin rates due to the supply surplus and stable demand.
This epoxy resin price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
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.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Epoxy Resin |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Epoxy Resin Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
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.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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