Get the latest insights on price movement and trend analysis of Epoxy Resin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Epoxy Resin Price Trends for the July-September of 2023
The epoxy resin prices in Asia wavered during the third quarter of the year 2023. The market started on a low note at the beginning of the quarter in July’23. The inventories were overflowing with excess supplies from the previous quarters as the suppliers ordered in bulk, anticipating good amounts of market offtakes. However, the market queries were disappointing compared to the estimates.
This led to a swift decline in prices in the first half of the quarter. The second half, though, was more favorable from the epoxy resin trade point of view. Consumer demands finally started to pick up, and the epoxy resin price graph inclined steadily in the latter half of the quarter. Overall, the general market sentiments were observed to be positive for the majority of the discussed period.
Contrary to the Asian epoxy resin market, the European market trends were bearish throughout. The price graph wavered at the lower end for the majority of the discussed period. The demand spectrum remained feeble. The saturated inventory levels, too, supported the sluggish trends. The feedstock material bisphenol-A provided some upstream cost support, but the falling demands rendered it irrelevant. Overall, muted market sentiments were observed.
The North American epoxy resin market was in strict compliance with the Asian epoxy resin markets. Market dynamics were better in the second half of the quarter than in the first half. Overall, mixed market dynamics were observed.
According to Procurement Resource, the price trends for Epoxy Resin will continue to waver in the upcoming months. The uncertainties in the market offtakes will guide the epoxy resin price sentiments.
Epoxy Resin Price Trends for the First Half of 2023
The Asia Pacific markets of epoxy resins witnessed a gradual decline in their price trend in the first quarter of 2023, while a steep one in the second. The significant cause of this decline in the first quarter was the weak momentum of feedstock materials, the drop in demand from the downstream sector, and the surplus supply of the product in the region.
In the second quarter, along with the downstream industries, the upstream industries, such as propylene, offered low-cost support. The rates of exports to the US and Europe also fell amid the slowing down of the global economy, leading to a decline in the price trend of Dysprosium oxide.
The price trend of epoxy resins followed a bearish stance in the first two quarters of 2023. The market suffered from the drop in prices of upstream products and oversupply of the epoxy resins derivatives while their demand from industries such as petroleum was on the lower side. In addition to this, the challenging market conditions, such as a rise in the level of inflation, high-interest rates charged by banks to support the falling economic conditions, and the pessimistic attitude of buyers caused the level of inventories to rise and the price trend of epoxy resins to decline.
The sluggish market sentiments of the North American epoxy resins market force its price trend to move southwards in the first two quarters of 2023. In both quarters, the cost of feedstocks took a deep downward path, and along with high disruptions in the feedstock material’s costs, the prices of epoxy resins struggled to maintain their pace. The demand for epoxy resins declined as a result of a shortage of labor and a financial crisis caused by the failure of two major banks, which was evidently reflected in the downfall of epoxy resin prices.
According to Procurement Resource, the price trend of Epoxy Resin is expected to be hampered by weak rates of procurement from the downstream industries and challenging global economic conditions.
Procurement Resource provides latest prices of Epoxy 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.
Epoxy resins, also known as polyepoxides, are polymers containing epoxide groups. It is elastic and therefore has a variety of applications. Bisphenol and novolac are some of the epoxy resins that are used widely.
|Product Name||Epoxy Resin|
|Industrial Uses||Adhesives, binders in cement and mortars, industrial coatings, fiver-reinforced plastics, rigid foams.|
|Synonyms||2-(chloromethyl)oxirane, 4-[2-(4-hydroxyphenyl)propan-2-yl]phenol, prop-2-enoic acid|
|Molecular Weight||392.9 g/mol|
|Supplier Database||BASF SE, Dow, Hexion, Huntsman Corporation, Olin Corporation, Solvay SA.|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Epoxy resin can be produced from epichlorohydrin and bisphenol-A. The starting raw materials are infused in a reactor, followed by adding caustic soda and an inert solvent to form the resin, which is then washed, and special additives are added. Finally, the epoxy resins are hardened using amines.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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