In 2025, China’s epoxy resin market experienced fluctuating price movements under the combined influence of cost-side volatility, uneven downstream demand, and periodic external events. Overall prices followed a pattern of consolidation, decline, rebound, and correction, while the wind power sector once again emerged as a key demand driver during the year.

As of December 22, 2025, liquid epoxy resin prices stood at approximately RMB 13,500 per metric ton (ex-works, water-based), down RMB 650 per metric ton from the beginning of the year, representing a decline of 4.59%. The annual average price was RMB 13,860 per metric ton. Solid epoxy resin prices were around RMB 12,700 per metric ton, down RMB 550 per metric ton or 4.15% year-on-year, with an annual average of RMB 12,912 per metric ton.

Price Trend Analysis in 2025

Throughout 2025, epoxy resin prices were shaped by phased changes in raw material costs and downstream demand.

At the beginning of the year, market sentiment was relatively stable, with limited cost-side fluctuations and downstream buyers focusing mainly on pre-holiday replenishment. After the Lunar New Year, rising epichlorohydrin prices temporarily supported epoxy resin quotations; however, slow downstream restarts and inventory consumption limited the upside.

Subsequently, new capacity additions and declining raw material prices weakened cost support, while sluggish domestic demand and the EU’s provisional anti-dumping measures on Chinese epoxy resin reduced export volumes, intensifying sales pressure.

Following the Qingming Festival, despite a weak broader commodities market, strong bulk procurement from the wind power sector pushed epoxy resin prices higher. Liquid epoxy resin supply tightened as producers prioritized wind power orders, driving market prices upward.

In the second half of the year, rising epichlorohydrin costs and seasonal expectations supported prices during the traditional “Golden September” period. However, as demand failed to keep pace during “Silver October,” high prices proved unsustainable. With declining raw material support and rising inventories, epoxy resin prices retreated toward year-end.

Supply and Demand Dynamics

China’s epoxy resin capacity increased to 3.857 million metric tons in 2025, up 10.29% year-on-year, with three new plants adding a total of 360,000 metric tons. By November, total output reached approximately 1.77 million metric tons, while the average industry operating rate remained around 51.88%.

On the demand side, epoxy resin consumption in coatings, electronics, composites, and adhesives remained generally stable. The wind power sector provided notable support in the first half of the year, while other downstream industries maintained cautious purchasing strategies. Demand softened further in the second half as the market entered the traditional off-season.

Cost, Trade, and Outlook for 2026

In 2025, bisphenol A prices declined sharply due to oversupply, while epichlorohydrin prices rose significantly amid supply constraints and cost pressures. This divergence led to fluctuating production costs and compressed profit margins for epoxy resin producers.

Looking ahead to 2026, the epoxy resin market is expected to remain range-bound. Continued capacity expansion, weak traditional demand, and uncertain global economic conditions may limit price upside. However, emerging sectors such as wind power, new energy vehicles, aerospace, 5G, AI, and semiconductors are expected to provide long-term growth opportunities.

Overall, epoxy resin prices in 2026 are projected to fluctuate within the following ranges:

• Liquid epoxy resin: RMB 12,500–14,500 per metric ton

• Solid epoxy resin: RMB 12,300–14,000 per metric ton