For the Quarter Ending March 2025
North America
In Q1 2025, Petroleum Resin prices in the North American region recorded a quarter-on-quarter decline compared to Q4 2024. At the beginning of the quarter, petroleum resin prices in North America rose, supported by elevated import costs from Asia and supply-side constraints. Federal infrastructure projects in energy and data centres stimulated demand in construction adhesives and coatings, while improved automotive offtake also contributed to the upward movement.
As the quarter progressed, prices began to soften amid easing supply concerns. Chinese producers ramped up output post-holidays, and freight rates fell sharply, enhancing resin availability. While end-user demand showed resilience, especially in construction, oversupplied inventories and cautious purchasing behaviour capped further gains. Buyers adopted a wait-and-see approach amid economic and policy uncertainties.
By quarter-end, prices continued their downward trend as sluggish demand outpaced any supply risk. Despite stable output and cost relief from falling freight, muted downstream activity — especially in adhesives and coatings — drove the overall QoQ price decline. The U.S. witnessed the most significant change with a noticeable drop compared to Q4 2024, with the quarter-end price settling at USD 1290/MT CFR Savannah, reflecting cautious sentiment, and restrained buying interest.
APAC
In Q1 2025, Petroleum Resin prices in the APAC region recorded a quarter-on-quarter incline of 4.4% compared to Q4 2024. At the start of the quarter, petroleum resin prices in the APAC region surged, supported by tightened supply and rising production costs amid climbing crude oil prices. Pre-Lunar New Year shutdowns among manufacturers reduced operational capacity, while downstream buyers actively stockpiled resin to secure supply. Global interest, particularly from U.S. importers preparing for possible tariffs on Chinese goods, added pressure to demand, fuelling the initial upward trend. As the quarter progressed, the market stabilized as production resumed post-holiday and supply levels normalized. Easing crude oil prices helped mitigate input costs, leading to steady pricing. Demand from construction remained firm, offering a cushion to overall offtake, though the automotive sector showed signs of weakness. By the end of the quarter, prices softened slightly, despite stable supply and modest recovery in downstream activity, especially in coatings and construction. The quarter concluded higher overall due to the strong early-quarter rally, cementing a QoQ price increase with the quarter-end price settling at USD 1150/MT FOB Qingdao.
Europe
Petroleum resin prices in Europe declined in Q1 2025 compared to Q4 2024, driven by weak downstream demand, shifting crude oil dynamics, and mounting global trade tensions. Early in the quarter, crude oil prices saw a brief uptick, raising feedstock costs. However, this failed to support resin pricing as construction activity remained limited due to inflationary pressures and high material costs. Automotive demand also stayed subdued, constrained by economic uncertainty and concerns over possible U.S. tariffs targeting German exports. Mid-quarter, falling crude oil prices eased upstream cost pressures, but downstream recovery remained elusive. Construction delays continued, and automakers scaled back production in response to lacklustre sales. Escalating U.S.-EU trade friction, particularly proposed tariffs on industrial goods, prompted exporters to reroute shipments toward domestic and regional markets, exacerbating supply surpluses within the EU. By quarter-end, crude prices declined further and trade policy uncertainty and redirected exports from global to European markets intensified oversupply, weighing heavily on prices. Germany, as the region’s largest market, faced persistent consumption softness and limited industrial activity. The quarter-on-quarter price drop reflected a broader imbalance shaped by tepid demand, cost-side relief, and trade-driven disruptions.
For the Quarter Ending December 2024
North America
In Q4 2024, Petroleum Resin prices in the North American market saw a notable increase, driven by a combination of supply constraints and elevated freight rates. The supply side faced significant challenges due to logistical disruptions, particularly in key trade routes such as the Panama Canal and the Mississippi River.
Low water levels in these critical waterways led to extended delivery times and delays, further exacerbating the supply shortage. Concurrently, shipping costs from Asia to North America surged, partly due to the anticipation of potential labor strikes on the U.S. East and Gulf coasts and a compressed post-holiday shipping schedule. These factors contributed to a tightening of supply, sustaining upward pressure on prices.
On the demand side, while the construction sector showed some seasonal slowdown, overall demand remained relatively steady, particularly driven by the automotive sector. Strong performance in the U.S. automotive industry, especially in truck and hybrid vehicle production, helped maintain a steady demand for Petroleum Resin, which is widely used in manufacturing lubricants, coatings, and vehicle components. These factors combined to push prices higher despite an otherwise moderate demand environment.
Asia-Pacific
In Q4 2024, the Asia-Pacific Petroleum Resin market witnessed an upward price trend, largely driven by a combination of supply-side constraints, rising input costs, and moderate demand recovery in key sectors across the region. In China, logistical disruptions, including heightened port congestion at major hubs like Shanghai and Ningbo and delays caused by Typhoon Kong-Rey, strained the supply chain despite stable manufacturing activity and high capacity utilization rates. Traders pre-emptively raised prices to offset escalating freight costs during the holiday season and longer trade routes. Demand in China was mixed, with the construction sector showing modest growth driven by key players like China Railway Group, while the automotive sector recorded robust gains, with passenger vehicle sales surging by 11.2% year-on-year in October, supported by rising new energy vehicle (NEV) sales. Similarly, in India, Petroleum Resin prices remained elevated due to constrained supplies and increased feedstock costs, alongside moderate demand from construction and infrastructure projects. The Indian automotive sector also contributed to demand, with steady growth in passenger vehicle production and sales. Across the Asia-Pacific region, while real estate and construction sectors exhibited uneven recovery, the automotive industry emerged as a key driver, highlighting its significant role in shaping the market dynamics for Petroleum Resin during the final quarter of 2024.
Europe
The price of Petroleum resin in the European market remained subdued during the final quarter of 2024, reflecting a stable balance between supply and demand. Inventories were sufficiently stocked to meet consistent consumption needs, particularly from the automotive sector, which remains the primary end-user of Petroleum resin in paints, coatings, and lubricants. Although global automotive production has shown signs of growth, European and North American markets have been constrained by slower vehicle sales and production challenges, partly driven by the ongoing transition toward electrification. Germany emerged as an exception, maintaining steady automotive production, supported by its strategic push toward electric vehicle manufacturing. This steady demand has helped stabilize the German Petroleum resin market, allowing it to absorb minor cost fluctuations without significant disruption. Nevertheless, European manufacturers continued to face challenges, including a prolonged destocking cycle, geopolitical uncertainties, and a challenging economic climate, all of which led to reduced production activity. Despite these headwinds, stable inventories and steady automotive demand have provided a favorable outlook for the European Petroleum resin market.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, the North American Petroleum Resin market, particularly in the United States, experienced a notable surge in prices marked by significant fluctuations. Several key factors influenced this upward trend, including heightened import costs and substantial material shortages.
In July 2024, the market saw a considerable increase in freight charges, which contributed to the overall rise in import expenses. Although freight rates began to decline in the latter half of August, ongoing port congestion in global trade continued to hinder supply timelines, exacerbating the existing material shortages. Throughout this period, demand for Petroleum Resin remained relatively muted, especially from the automotive sector, which is typically a primary consumer.
Despite these challenges, the quarter concluded with the price of C9 Petroleum Resin reaching USD 1265 per metric ton, CFR Savannah, in the United States. This price reflects the interplay of rising costs, supply chain disruptions, and the need for stabilization within the market, as stakeholders navigate the complexities of fluctuating supply and demand dynamics.
Asia
The Asian Petroleum Resin market exhibited a mixed trend throughout the third quarter of 2024. Prices experienced a significant increase during the first two months; however, they subsequently faced a notable decline in the final month. Despite these fluctuations, overall demand for Petroleum Resin remained relatively subdued. Conversely, persistent supply constraints continued to exert upward pressure on prices. Adverse weather conditions, including typhoons and heavy rainfall across the region, severely disrupted manufacturing activities, further tightening supply. This interplay of restricted supply and fluctuating prices underscores the complex dynamics influencing the market, with China emerging as the most affected region. Additionally, fluctuations in crude oil prices during this quarter, driven by ongoing geopolitical tensions worldwide, further contributed to the upward pressure on Petroleum Resin prices. As a result, the quarter concluded with a price of USD 1348 per metric ton for C5 Petroleum Resin, FOB Qingdao in China. This price reflects the culmination of the pricing fluctuations experienced throughout Q3 2024, highlighting the ongoing challenges and volatility within the Asian Petroleum Resin market.
Europe
In the third quarter of 2024, the European Petroleum Resin market experienced notable fluctuations, primarily trending downward due to a confluence of key factors. A significant contributor to this decline was the subdued demand from the automotive sector, a major consumer of Petroleum Resin. The automotive industry encountered substantial challenges, including sluggish sales figures and intensified competition from Chinese electric vehicles, which collectively diminished the need for Petroleum Resin in manufacturing processes. Moreover, the prices of essential feedstocks, particularly Crude Oil, failed to provide the necessary support to counteract the prevailing negative market trends. This lack of stability in feedstock prices further compounded the challenges faced by manufacturers in the region. Germany, in particular, witnessed the most pronounced price fluctuations, reflecting the difficult outlook for traditional automotive manufacturers amid ongoing industry transformations. The cumulative impact of reduced demand, competitive pressures, and stagnant feedstock prices created a challenging environment for Petroleum Resin pricing throughout the quarter. Consequently, the market remained on the lower end, highlighting the need for strategic adjustments within the industry to navigate these evolving dynamics effectively.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, the North American petroleum resin market saw a significant rise in prices due to a confluence of factors. The quarter began with severe supply chain disruptions, including unplanned shutdowns by major manufacturers such as Henan Anglxxon Chemical Co., Ltd., Nanjing Yangzi Eastman Chemical Ltd. (JV), and Hangzhou Yangli Petrochemical Co., Ltd. These shutdowns intensified an already strained supply situation, driving prices up. Compounding the issue were rising import costs from key Asian markets and a surge in global container freight rates, which increased by over 30%, further exacerbating logistical challenges and cost pressures.
In the USA, where the most pronounced price changes occurred, the market trend remained consistently bullish. Strong demand from the construction sector, bolstered by substantial government funding for infrastructure projects and seasonal increases in construction activity, significantly contributed to higher resin prices.
Comparing the first and second halves of the quarter, prices rose by 3%, with a 5% increase from the previous quarter, reflecting ongoing upward momentum. By the end of the quarter, petroleum resin prices stood at USD 1575/MT CFR Savannah, marking a robust and positive pricing environment.
APAC
In Q2 2024, the Petroleum Resin market in the APAC region maintained stable pricing, influenced by a range of factors. The stability in crude oil prices provided a solid cost foundation for production, while strong demand from the construction and automotive sectors helped sustain market equilibrium. Despite occasional supply disruptions, the manufacturing sector's resilience supported this stability. China, as the region's focal point, saw notable price fluctuations, particularly due to a temporary plant shutdown at Anhui Tongxin New Material Technology Co., Ltd. caused by a heavy rainstorm from June 23 to June 28. This disruption tightened supplies briefly but did not lead to long-term instability. Prices for the quarter showed a modest 5% change from the previous quarter, reflecting overall market steadiness. Comparing the first and second halves of the quarter, prices remained consistent, highlighting a stable market sentiment. By the end of the quarter, the price of C5 Petroleum Resin FOB Qingdao was USD 1385/MT, underscoring the market's positive and resilient outlook.
Europe
In Q2 2024, the European petroleum resin market experienced a dynamic and upward pricing trend. This increase was primarily driven by higher feedstock costs and escalating freight rates and resulted a bullish trend in the European market. The cost of feedstock Crude Oil rose, directly impacting production expenses, while the global container freight index surged by over 30%, inflating logistical costs. Additionally, geopolitical tensions in the Middle East heightened concerns over potential crude oil supply disruptions, further boosting upstream costs. Strong demand for the product from the downstream construction and automobile sectors supported the market, despite concerns about gasoline demand and overall production expenses. In Germany, significant price changes were noted, largely influenced by rising feedstock costs and robust demand from key industries. Prices remained stable compared to the previous quarter but fell from the same period last year due to lower baseline figures. The price increase was observed between the first and second halves of the quarter, indicating a steady climb.
