Epoxy Resins

Epoxy resins are versatile polymers used in the manufacture of adhesives, coatings (such as industrial and maintenance coatings in oil and gas pipelines), paints and structural parts needed by the automotive, aerospace and aircraft industries. In the construction industry, epoxy resins are the preferred materials for non-slip, easy to clean surfaces and are the adhesives of choice due to their excellent adhesion to steel and concrete. Epoxy resins are also used in the electronics industry to encapsulate electronic components and protect them from damage – electrical laminate – but the industry has moved to Asia. The electronics industry accounts for one fifth of the epoxy market. Epoxy resins are also sometimes used in the packaging industry.

The market for epoxy resins splits roughly into two equal parts: coatings (powder coating, can coatings, marine coatings and automotive coatings) and structural applications (electronics, composites, civil engineering and adhesives).

ICIS pricing quotes Epoxy Resins in Europe, Asia, North America and China.

Frequency:

All reports are published weekly on Tuesdays

 

Epoxy Resins (EUROPE)

Weekly Price Assessments:

Standard Liquid (LER) Epoxy Resins Monthly Contract Prices

1. FD NWE (USD/MT & conversion to US CTS/LB)

Standard Solid (SER) Epoxy Resins Monthly Contract Prices

1. FD NWE (USD/DMT & conversion to US CTS/LB)

Epoxy Resins (ASIA)

Weekly Price Assessments:

Standard Liquid (LER) Epoxy Resins Spot Prices

1. CFR CHINA (DRUMS) (USD/MT & conversion to US CTS/LB)
2. DEL E.CHINA (DRUMS) (CNY/MT & conversion to US CTS/LB)

Epoxy Resins (CHINA)

Weekly Price Assessments:

Standard Liquid (LER) Epoxy Resins Spot Prices

1. CFR CHINA MAIN PORT (DRUMS) (USD/MT)
2. DEL EAST CHINA (DRUMS) (CNY/MT)
3. DEL SOUTH CHINA (DRUMS) (CNY/MT)

Standard Solid (SER) Epoxy Resins Spot Prices

1. DEL EAST CHINA (DRUMS) (CNY/MT)
2. DEL SOUTH CHINA (DRUMS) (CNY/MT)

Epoxy Resins (NORTH AMERICA)

Weekly Price Assessments:

Standard Liquid (LER) Epoxy Resins Contract Market Prices

DEL N AMERICA (BULK) (US CTS/LB & conversion to USD/MT)

Standard Solid (SER) Epoxy Resins Contract Market Prices

DEL N AMERICA (BULK) (US CTS/LB & conversion to USD/MT)

Standard Liquid (LER) Epoxy Resins (Bulk) Spot Prices

DEL N AMERICA (BULK) (US CTS/LB & conversion to USD/MT)

Standard Liquid (LER) Epoxy Resins (Drum) Spot Prices

DEL N AMERICA (DRUMS) (US CTS/LB & conversion to USD/MT)

 General Information:

Assessment window: Price assessments are based on information supplied by market participants for the week up to the close of business on Tuesdays at 1700 hours in London, Shanghai, Singapore and Houston.

Specifications: Standard grade epoxy resins, in two grades – solid and liquid. There are also many specialised grades which are not quoted in the report. In Europe, Asia and China, solid grade epoxy resin (SER) refers to material of Low Molecular Weight (LMW). In North America, solid grade epoxy resin (SER) refers to material of Medium Molecular Weight (for example, “Type 4” resins). In Asia, ICIS pricing quotes standard liquid epoxy resins (LER). In China, ICIS pricing quotes standard liquid epoxy resins (LER) E-51 (618) and solid epoxy resins (SER) E-12 (604).

Timing: Typically four-six weeks forward from the date of publication

Terms: 30-60 days after bill of lading date. In Asia, 30-90 days after bill of lading date and in the Chinese domestic market cash payment or bankers draft up to 180 days.

Standard cargo size: European LER and SER quarterly contract prices are for 20-30 tonnes bulk tanker truck deliveries. Bulk accounts for 80% of liquid material traded, and 95% of drum business is specialties. In Asia, LER is commonly sold in drums of around 200 kg each.  Drummed cargoes are usually packed in 20-foot containers, with each container holding up to 80 drums. The typical import size for China cargoes ranges from two-five containers of drummed material, or around 30-80 tonnes. In North America, LER for contract and spot business is typically delivered in bulk tanker trucks, isocontainers, or containers holding up to 80 drums. Drummed LER is distributed to end-users in less-than-truckload (LTL) quantities of up to 40 drums per shipment. SER is typically sold in 50 lb bags or 2,000 lb super sacks.

In China, LER is commonly sold in bulk tanker or trucks of 10-50 tonnes, and SER is sold in bulk trucks of 10-20 tonnes.

Assessment basis: The epoxy resins market is affected by developments in the feedstock markets, in particular bisphenol-A (BPA) and epichlorohydrin (ECH). In Europe, the market has moved from quarterly to monthly contract pricing to reflect similar changes upstream. Epoxies continue to grow in Asia but are seen as fairly flat in Europe. In recent years, European epoxy producers have suffered strained margins and have tried to reduce fixed costs. Europe is both an importer and exporter of material.

In Asia, the report mainly tracks the epoxy market in China, which is the largest in the region. In China, the price assessments are based on spot. Information on epoxy trades in other parts of Asia such as southeast Asia will also be included if heard in the market. 

In North America, most of the market, except for a handful of large buyers, has monthly negotiated pricing. The contract market price range for LER tracks prices in the middle tier of the LER market, which comprises buyers of 2m-15m lb/year of resin. The contract market price range for SER represents small-to-medium volume buyers, who usually receive material in sacks. The spot price ranges for bulk and drummed material track LER prices to small buyers (<2m lb/year) who do not have long-term supply contracts. The spot price range for drummed material captures prices for distributor deliveries of 10-40 drums.

All reports offer details of confirmed epoxy deals, offers/bids, supply/demand balance, export/import information, and general sentiment for price direction. Where applicable, developments in the up and downstream markets are also included.

 

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