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VietnamIn Q1 2025, Unsaturated Polyester Resin Prices (Bulk moulding Compound Injection moulding) showed early signs of recovery, inching up to 1982 USD/MT FOB Shanghai marking a 1.46% quarter-on-quarter increase. The rebound was modest but encouraging, supported by a marginal rise in Feedstock-Styrene Monomer and Maleic Anhydride prices and renewed procurement activity from composite manufacturers ahead of the spring construction season.
Additionally, the Chinese government’s focus on infrastructure and green energy investments helped lift market sentiment. However, producers remain cautious, as overall demand growth is still considered fragile and highly sensitive to fluctuations in raw material pricing and global trade conditions.
In Q4 2024, prices declined further to 1953 USD/MT FOB Shanghai a 2.18% drop from Q3. The UPR (Bulk moulding Compound Injection moulding) market continued to struggle with sluggish export demand, especially amid geopolitical tensions and delayed shipments impacting global resin movement. Meanwhile, feedstock trends remained muted—Styrene Monomer prices saw minor fluctuations, while Maleic Anhydride availability was sufficient, limiting any major cost-push pressure. End-users also adopted a cautious buying approach, anticipating further price corrections considering steady inventory levels across the resin supply chain.
In Q3 2024, the UPR (Bulk moulding Compound Injection moulding) market in China and Taiwan faced a slight downturn, with prices dropping to 1997 USD /MT FOB Shanghai reflecting a 1.33% decline from the previous quarter. This softening was primarily driven by weak demand from downstream sectors such as construction and marine applications, coupled with an oversupplied market. Feedstock prices, particularly Styrene Monomer and Maleic Anhydride, remained relatively stable but lacked bullish momentum, leading producers to reduce resin prices to stimulate buying interest.
By Q2 2024, prices continued to drop in China as lower raw material costs reduced production expenses, and excess supply coupled with diminished demand from key industries like construction contributed to the trend. However, in the Taiwan market prices were stable during this period due to a balanced gap between the demand and supply.
In Q1 2024, the Unsaturated Polyester Resin (UPR) (Bulk moulding Compound Injection moulding) market in China and Taiwan experienced a price decline due to oversupply amidst weak demand, particularly from the downstream construction sector and broader Asian markets. Additionally, reduced production costs provided limited support for UPR prices, as the cost of key feedstocks like Propylene Glycol and Maleic anhydride dropped. This combination of excess supply and lower feedstock prices exerted downward pressure on the UPR market throughout the quarter.
In Q1 2025, UPR General Purpose prices moved marginally down, falling 1.33% from Q4 to 1344 USD/MT Ex-Delhi. Downstream demand was modest, despite stable and reasonably priced feedstock supplies, particularly maleic anhydride. A solid but muted UPR market resulted from market participants waiting for fiscal signs before committing to higher volumes. As industrial sentiment improves, a modest recovery is expected in Q2.
In Q4 2024, UPR General Purpose prices corrected to 1362 USD/MT Ex-Delhi down 3.45% from Q3. The correction was due to reduced construction activity post-monsoon and year-end inventory adjustments. Additionally, Maleic Anhydride prices stabilized, relieving cost pressures on resin producers. Buyers adopted a cautious approach as holiday slowdowns impacted production schedules.
In Q3 2024, UPR General Purpose Prices increased even further, reaching 1410 USD/MT Ex-Delhi, representing a 5.44% gain—the largest increase of the year. Higher crude costs and tighter supply chains were the main causes of this global increase in the price of maleic anhydride. Prior to slowdowns brought on by the monsoon, the resin industry witnessed robust purchasing, driven mostly by the fiberglass and composites sectors.
In Q2 2024, UPR General Purpose prices rebounded by 2.64% to 1338 USD/MT Ex-Delhi. The price increase was supported by a modest rise in Maleic Anhydride costs, coupled with seasonal demand improvement from infrastructure and automotive sectors. Manufacturers also saw improved order flow from OEMs, prompting slight restocking and production adjustments
In Q1 2024, the UPR General Purpose market in (Ex-Delhi) experienced a marginal decline, with prices at 1303 USD/MT, down 1.61% from the previous quarter. This softening was primarily due to stable feedstock prices, including Maleic Anhydride, and sluggish demand from downstream industries such as construction and marine composites. While the post-holiday season usually brings some recovery, market activity remained tepid.
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Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Unsaturated Polyester Resin (UPR) is a durable, versatile polymer known for its strength and resistance to water and chemicals. It is commonly used in automotive parts, construction materials, and marine components due to its ease of moulding and cost-effectiveness.
Packaging Type
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Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
Technical Specification for Unsaturated Polyester Resin (Solid) :
| Property | Specification (Solid) |
| Specific gravity | 2.0 g/cm |
| Impact strength | 210 J/m |
| Flexural strength | 90 MPa |
|
Flexural Modulus |
10 GPa |
| Tensile Strength | 35 MPa |
| Compressive Strength | 120 MPa |
| Water Absorption | 0.12% |
| Hardness | 50~60 Barcol |
Technical Specification for Unsaturated polyester resin (Liquid)
| Property | Specification (Liquid) |
|
Viscosity 25 ̊C, cps |
350-2000 |
|
Specific gravity |
1.10 ± 0.02 |
|
Flexural strength |
80 ± 10 N/mm2 |
| Flexural Modulus | 3000 ± 2000 N/mm2 |
| Tensile Strength | 50 ± 5 N/mm2 |
| Tensile Modulus | 2500 ± 50 N/mm2 |
| Heat Deflection Temperature | 75 ± 3 N/mm2 |
| Barcol Hardness | 45-50 Units |
Applications
Unsaturated polyester resin (UPR) is incredibly versatile and finds its way into many everyday items. In the automotive world, it’s used to create strong and lightweight parts like bumpers and dashboards. In construction, it’s a key ingredient in durable materials such as fiberglass panels and industrial flooring. For boats and marine equipment, UPR provides the strength and water resistance needed for hulls and decks. It’s also crucial in making high-performance composites used in aerospace and sports gear. In industries that handle chemicals, it’s used to build tanks and pipes that resist corrosion. UPR even makes its mark in the arts with decorative pieces and sculptures, as well as in furniture, especially for outdoor settings. Plus, it has applications in medical equipment and electrical insulation. Its adaptability makes UPR a valuable material across various fields.
The prices of Unsaturated Polyester Resins (UPR) are influenced by various factors, including raw material costs, supply and demand dynamics, production capacity, and market competition. One of the most significant factors affecting UPR prices is the cost of key feedstocks, such as styrene and polyester resins. Additionally, global demand for UPRs in industries like automotive, construction, and marine also plays a role in shaping prices. If demand for UPR-based products increases due to growth in construction or automotive sectors, this can lead to price hikes. Conversely, economic slowdowns or a decrease in demand for certain applications could put downward pressure on UPR prices. Supply chain issues, such as disruptions in the delivery of raw materials or manufacturing delays, can also significantly impact UPR prices.
Feedstock prices have a direct and substantial effect on UPR prices. The primary feedstocks for UPR production are styrene and unsaturated polyesters, and any fluctuations in the prices of these materials can lead to changes in UPR prices. For example, if the price of styrene increases due to a rise in the cost of crude oil or disruptions in the supply of petrochemicals, the production cost of UPR will also rise, prompting manufacturers to increase UPR prices. Similarly, changes in the availability or cost of other raw materials such as resins, curing agents, and additives can also have an impact on UPR pricing. As raw materials account for a significant portion of production costs, any volatility in feedstock prices often results in corresponding changes in UPR prices.
Inflation has a notable influence on UPR prices due to its impact on overall production costs and market conditions. As inflation rises, the cost of raw materials, energy, and labor also tends to increase, directly affecting UPR manufacturers. With higher operating costs, manufacturers may pass on these increases to consumers, leading to higher UPR prices. Additionally, inflation can lead to an increase in the costs of transportation and logistics, which further contributes to price hikes. However, inflation can also influence demand for UPR-based products. In times of high inflation, consumers and industries might reduce spending, leading to a potential decrease in demand for certain products that rely on UPRs. In such cases, even though production costs may rise, the overall demand reduction might keep prices stable or cause them to decrease. Therefore, the relationship between UPR prices and inflation is shaped by a combination of cost-push and demand-side factors.
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