Are Powder Coating Raw Material Prices Heading for a Stable Period?

In April 2026, the global powder coating raw material market continued to exhibit high volatility, driven by both geopolitical tensions in the Middle East and sustained high international energy prices. The situation in the Middle East remains tense, with the Strait of Hormuz experiencing transport disruptions and the U.S. continuing to block Iranian ports, leading to significant interruptions in crude oil supply—affecting millions of barrels daily. Brent crude oil prices spiked temporarily before retreating, but overall remained at high levels, providing strong support to chemical industry costs.

As a major importer of Middle Eastern oil, China experienced some impact; however, with strategic petroleum reserves, diversified imports via Russian and Central Asian pipelines, and flexible domestic refinery adjustments, the overall impact was mitigated. Nonetheless, high oil prices still pushed up the costs of upstream raw materials such as PTA and ethylene glycol, increasing procurement pressures for enterprises.

Key Raw Material Price Trends for Powder Coatings

1.Polyester Resin Feedstocks

• PTA: Influenced by Middle East developments and oil price fluctuations, PTA prices showed significant volatility in April. Prices are expected to trend slightly higher in May, with continued attention to geopolitical risks.

• Ethylene Glycol: Average monthly price in April was around 5050 RMB/ton. Cost support remains strong, and prices are expected to stay high in May.

• Meta-Phthalic Acid (MPA): Experienced a notable increase in April, with a monthly average of 10,350 RMB/ton. Weakening downstream demand may cause a slight decline in May.

• Neopentyl Glycol (NPG): Prices first rose slightly then retreated in April. Expected to fluctuate at low levels in May.

2.Epoxy Resin and Raw Materials

• Epoxy Resin: Overall downward trend in April due to weak downstream demand, expected to remain weak in May.

• Epichlorohydrin: Monthly average price 13,304 RMB/ton, supported by costs, but demand remains limited.

• Bisphenol A (BPA): East China average price 10,606 RMB/ton, expected to show differentiated trends in May with overall caution.

3.Titanium Dioxide and Other Functional Materials

• Titanium Dioxide (Rutile type): April monthly average 15,834 RMB/ton, with mainstream ex-factory prices at 16,000–17,000 RMB/ton. Expected to continue slight upward adjustments in May.

• TGIC: Negotiated price 39,000–39,500 RMB/ton, relatively stable.

• Adipic Acid: Currently 8,950–9,050 RMB/ton, minor fluctuations due to supply-demand balance.

• PVDF (Lithium Battery Grade): 55,000–65,000 RMB/ton, prices remain firm, supported by environmental and new energy demand.

Outlook for May

• Price Trends: Overall expected to remain volatile. PTA and ethylene glycol may stabilize slightly higher, epoxy resin remains weak, titanium dioxide may see mild upward adjustment.

• Procurement Advice: Monitor the trends of crude oil and key upstream raw materials such as sulfuric acid, and plan procurement accordingly to avoid overexposure to high prices.

• Risk Reminder: Geopolitical uncertainties remain high, and risks from oil price volatility and logistics disruptions may continue to cause short-term price fluctuations.