Vinyl Ester Resin (VER) prices for June 2025 were stagnant in Taiwan under poor demand, whereas Spain experienced growth due to supply shortages and increased downstream activity, reflecting the increasing influence of regional factors on international resin market trends.
VER markets in Spain and Taiwan showed opposing price trends during June 2025 driven by distinct regional fundamentals. In Asia, more specifically Taiwan, prices were unchanged due to poor demand and constant supply, whereas in Europe, more specifically Spain, prices increased owing to logistical limitations and recovering consumption.
The regional market dynamics in both territories capture the way domestic industrial activity, stock management strategies, and supply chain interruptions are increasingly impacting VER pricing, even as worldwide feedstock costs experience limited volatility.
VER prices were steady in Taiwan during June 2025 as falling demand and adequate stock levels counteracted any rising price pressure. The local market experienced only marginal improvement in activity after the Dragon Boat Festival holiday period, with automotive and construction industries still struggling to gain meaningful traction. Producers maintained low operating rates – aligning output with limited offtake – to manage input costs.
Although upstream epoxy resin pricing edged higher, the impact on VER costs remained minimal due to earlier raw material procurement strategies. Chinese and Indian export demand continued to remain weak, as India's monsoon season led to reduced industrial activity while China's market conditions remained lacklustre, creating a generally quiet trading atmosphere. Taiwan's overall market picture remained well-balanced without any dramatic price swings.
In contrast, Spain’s VER market strengthened, with prices rising due to supply constraints and recovering automotive demand. While European epoxy resin feedstock costs were stable, logistical bottlenecks at key ports like Antwerp and Rotterdam delayed inbound feedstock shipments, tightening VER production.
Domestic demand improved as Spanish auto production rebounded, supported by a monthly increase in vehicle registrations and stronger component exports to EU markets. Processors ramped up resin procurement for structural automotive parts, further straining already limited inventories. By late June, persistent shipping delays and low stockpiles forced producers to implement additional moderate price hikes, sustaining the upward trend.
In the near term, Taiwan's VER market should remain muted unless construction activity or export orders see a sharp rebound. With demand-side weakness lingering throughout Asia and no dramatic supply shocks in sight, prices will probably remain steady into early Q3. On the other hand, in Spain, VER price momentum can extend into July provided port backlog and restricted inventory replenishment continue. Nevertheless, any weakening in auto demand or clearing of logistics will dampen further hikes.
