Powder Coatings Raw Materials Weekly Market Update (April 20–24, 2026)

In the fourth week of April, the raw material market for powder coatings exhibited a divergent trend. Notably, titanium dioxide continued its strong upward trajectory driven by cost pressures, while most other key materials like epoxy resins and TGIC corrected downward from recent highs due to weak follow-up demand. However, geopolitical tensions and supply chain disruptions continue to pose upside risks.

Here is the weekly price update of major raw materials for powder coatings:

1. TGIC Curing Agent
The TGIC market softened slightly this week, with prices decreasing by RMB 200~300 per ton week-on-week. Although raw material ECH (epichlorohydrin) prices rebounded, providing some cost support, downstream demand remained subdued. Manufacturers are primarily fulfilling previous orders, leading to limited spot goods available. Current mainstream negotiated prices in East China are around RMB 39,000~40,000/ton.

2. Epoxy Resin
Epoxy resin prices dropped by RMB 300~400 per ton this week. Continuous price declines in raw material BPA (bisphenol A) exerted bearish sentiment on the market. The mainstream negotiated price for liquid epoxy resin in East China is around RMB 18,000~18,800/ton, with actual transactions subject to negotiation.

3. Polyester Resin
Polyester resin prices fell by RMB 100~200 per ton week-on-week. Following the trend of upstream petrochemicals, the market remained weak with limited new orders, leading to a slight downward adjustment in prices.

4. Titanium Dioxide
In contrast to other materials, titanium dioxide prices rose by RMB 200~300 per ton week-on-week. The market continued its high-level consolidation driven by rising costs. The fourth round of collective price hikes was successfully implemented in mid-April, pushing reference prices to around RMB 16,780/ton. The market is supported by high sulfur and ilmenite costs, coupled with low inventory levels at manufacturers.

5. HAA (β-Hydroxyalkylamide)
HAA prices remained basically stable week-on-week. As a TGIC-alternative curing agent, HAA demand remains robust, but supply has been able to keep pace without causing significant price fluctuations.

6. Leveling Agent
Leveling agent prices decreased by RMB 300~400 per ton week-on-week. The market was generally weak due to soft demand, leading to a downward price trend.

7. Wetting Agent
Wetting agent prices stayed basically unchanged week-on-week.

Industry Dynamics & Outlook

The raw material market presents a mixed but challenging outlook for powder coating manufacturers. Major coating producers like AkzoNobel have announced price adjustments of 3%~15% effective April 1 to cope with sustained raw material pressures. Similarly, waterproofing giant Oriental Yuhua executed its third round of price hikes this year, raising prices by 3%~8% effective April 30, citing significant increases in raw materials such as epoxy resin (up 30%). Globally, leading chemical companies including BASF, Covestro, and Chemours implemented price increases on various products, including a $150/ton hike on Ti-Pure™ TiO₂ by Chemours, effective early April.

The powder coatings industry is entering a "high-cost, high-price, high-reshuffle" cycle. While some raw materials eased this week, the underlying cost pressures—particularly from global energy and geopolitical tensions—remain significant and are expected to continue shaping the market.

The above data is sourced from public information, for reference purposes only, and shall not be regarded as any basis for trading.