Prices of composites materials, including glass fiber, carbon fiber, SMC, and UPR declined, except epoxy resin price that saw an increase, in Q3 2025 as compared to Q2 2024. Glass fiber price declined by 3.2%, carbon fiber price down by 2.5%, SMC price decreased by 2.9%, and prices of UPR declined by 2.9% in Q3 2025 vs. Q3 2024. In Q3 2025, composite material prices down due to increased competition and potential supply chain pressures. The price drop was also influenced by a reduction in raw material costs and an industry-wide focus on inventory management. Epoxy resin price increased by 2.0% in Q3 2025 vs. Q3 2024, due to rising feedstock costs and improved demand, particularly in the construction sector and tightening supply conditions, which were driven by rising costs for key raw materials. In terms of metals, Aluminum price increased by 8.6% and steel price increased by 6.9% in Q3 2025 as compared to Q3 2024. Aluminum and steel prices increased in Q3 2025 due to expanded tariffs, specifically the US doubling its Section 232 tariffs on aluminum to 50% and on steel to 50% in Q3. These tariffs drove up import costs, while other contributing factors for steel included rising raw material costs and high energy costs for aluminum. In the forecast period, the prices of composites are expected to follow the same price trend as Q3 2025 except epoxy resin, as shown in the following figure.
Source: Lucintel
Figure: Year-over-Year (YoY) Price Change for Metals and Composites in Q3 2025 and Q4 2025 (e)
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