Coating resin prices rose in March market share of more than 10%

Due to the short working hours after the February holiday, the overall resin has not been fully recovered and the terminal demand is relatively flat, so the start-up of the manufacturers is still relatively low. It is expected that after March, the major raw materials of resin will be pulled up, and the cost pressure will increase. The major resin manufacturers for coatings will gradually increase the quotation and pass on the cost pressure, causing the price of resin in March to rise. Previously, major foreign resin suppliers such as Copolya, Evonik, DSM, AOC, and Retek have announced price increases for resin products in March, which will affect the global market and have a certain impact on the downstream coating market.

To this end, the authors counted the resin manufacturers that mainly announced prices increase in March, and the price increase situation: Kejuya, Evonik and DSM issued the first round signal of the rise in resin price: the same is March 1, the Section Poly Asia's global price increase of 10% for polyester polyol products such as Fomrez®. This price increase is a necessary measure brought about by the rising cost of raw materials. Evonik's DEGALAN® brand coating resin products produced by the company are subject to global price increases, with a price increase of 8%. DSM Composite Resins raised the price of its unsaturated polyester resins and Neoxil® compounds and binders by 150 euros per ton.

Paint resin prices are expected to rise in March

The second wave of resin price surges was concentrated on March 7, with major overseas resin maker AOC increasing the prices of all polyester resins, gel coats, pigments and additives products in the United States and Canada. U.S. product prices increased by US$0.06 per pound, Canadian product prices increased by US$0.13 per kilogram. The Rick Group raised its unsaturated polyester resin and vinyl ester resin prices in North America by an increase of US$0.06/lb.

In addition, the domestic resin market was stable, with major domestic suppliers such as Jiangsu Sanmu and Shanghai Yuanbang operating well and the atmosphere of market trading was stable. Driven by the increase in prices of major raw materials in the upper reaches, Shandong Xinyue, Huangshan Hengyuan, Baling Petrochemical and other companies also made certain price increases for their resin products.

From the price increase declarations of overseas resin suppliers, the analysis of the reasons for the price increase mainly included: the cost pressure on raw materials, especially the international oil still oscillates, and the increase in transportation costs and labor costs.

Higher domestic resin prices In addition to the impact of international crude oil, some analysts believe: With the downstream coating market ushering in the supply and marketing period after the holiday period, market demand in March will increase significantly, creating a good digestion, which is also the coating The use of resin prices has brought good news. At the same time, domestic inflation is relatively serious and cost support is strong. In the short-term, the high consolidation of the resin market may be relatively large, and some manufacturers who have not previously raised prices may make small upside.

In general, the rising prices of resin for domestic coatings are generally benefited from the rapid development of the downstream coating market. The progress of urbanization, infrastructure projects, and transportation and energy projects have also started one after another. With the start of the peak period, a group of manufacturers are also building additional resin projects and expanding their capacity. They received information from Kunshan South Asia that the company had 186,300. The tonne/year epoxy resin plant passed the acceptance inspection of relevant departments before the year and is currently undergoing final safety confirmation. At the end of February, it has officially started production and is expected to enter the market in March. It is expected that the application of the largest epoxy resin in the paint market will develop well in the future market, and its market demand growth forecast is still above 10%.