The ICIS Epoxy Resin reports are published in Asia, Europe and the US on a weekly basis. In Asia and the US, the price assessments focus on liquid spot.
In Europe and the US, contract prices are for liquid and solid grades. These reliable and unbiased prices are collated by our locally based reporters and the news and analysis about production issues, upstream and downstream movements, plus supporting graphs all go towards making this an essential resource if you are buying or selling in the market.
Updated to Q2 2021
Although a series of supply outage occurred across the globe for LER in Q2 2021, the supply in Asia remained overall constant. However, some producers have taken the inter-regional arbitrage opportunity, limiting the volume supplied within Asia, especially since May when Asian regional market softened significantly compared with Q1.
Asian demand was mixed across different regions in Q2. China’s demand for LER turned sluggish, reflecting buyers’ fatigue against firm prices amid squeezed margins in downstream sectors. Demand in southeast Asia also dropped due to the deteriorating COVID-19 situation in Asia, and buyers refrained from engaging in significant forward spot positions. In northeast Asia, demand remained robust and buyers were keen to secure cargoes by paying premiums.
Although epoxy resins volumes have been strictly allocated in Europe for some time, supply tightened further in Q2 after Hexion’s force majeure at its Pernis site. This reduced already low stocks, ongoing feedstock constraints, import disruption and continued strong downstream demand.
Epoxy resins offtake remained strong in Q2, driven in particular by elevated construction activity. There were certain cases of slowing demand due to high prices, downstream affordability concerns and missing components, but any effect on demand was negligible. Import delays may have boosted demand for domestic players, if they had any spot volumes available.
Supply was more available, but product did not flow freely from all corners, with both suppliers remaining under force majeure and allocations. As Q2 ended, volatility subsided and there was no longer that same level of desperation to secure product as there was earlier this year. More imports did come in with unpredictable lead times, but this would have likely been even higher if not for a tight ocean freight market.
Demand into most segments was strong, but the tightness in amine hardeners disrupted some consumption. Peak demand into coatings and construction ran at full throttle, with some seeking additional product to catch up on inventory and meet seasonal growth. This was not easy as some backlogged orders have yet to be fulfilled. Players continued to struggle with tight logistics capacity with a lack of railcars and a shortage of truck drivers.
We offer the following regional Epoxy resins analysis and news coverage to keep you informed of factors and developments affecting prices in the Epoxy resins marketplace.
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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.
Epoxy resins are high-performance thermosetting resins that are most commonly produced by reaction of epichlorohydrin and bisphenol-A (BPA). They have excellent adhesion, chemical and heat resistance, and very good electrical insulating properties.
The main applications for epoxy resins are high-performance coatings, electrical/electronic laminates and adhesives, flooring and paving applications with uses in the automotive, construction and aerospace industries.
Coating applications include powder coatings, marine and protective coatings, can and coil coatings, ultra violet (UV) curable coatings and automotive coatings. The construction industry uses epoxy resins because of their excellent adhesion to steel and concrete. In the electronics sector, they can be used to encapsulate electronic components. A growth area is high-performance composites in the aerospace industry.
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