Prices of composites materials, including glass fiber, carbon fiber, SMC, and UPR declined, except epoxy resin price that saw an increase, in Q4 2025 as compared to Q4 2024. Glass fiber price declined by 2.5%, carbon fiber price down by 2.9%, SMC price decreased by 1.9%, and prices of UPR declined by 2.3% in Q4 2025 vs. Q4 2024. In Q4 2025, composites material prices were down primarily due to reduced raw material costs, increased competition, decreased demand, and a focus on inventory management. Epoxy resin price increased by 1.4% in Q4 2025 vs. Q4 2024 due to rising demand from electronics, higher raw material and energy costs, supply chain issues like port congestion, protective trade measures, and restricting cheaper imports. In terms of metals, aluminum and steel prices increased by 4.4% and 7.2% respectively in Q4 2025 as compared to Q4 2024. Aluminum and steel prices increased in Q4 2025 due to higher energy costs, increased tariffs especially US Section 232 duties, a strong demand from infrastructure, and supply constraints like China's output caps-- all pushing up production costs and creating market tightness. In the forecast period, the prices of composites and metals are expected to follow the same price trend as Q4 2025 as shown in the following figure.
Source: Lucintel
Figure: Year-over-Year (YoY) Price Change for Metals and Composites in Q4 2025 and Q1 2026 (e)
