Prices of composites materials such as glass fiber, SMC, and UPR declined except carbon fiber and epoxy resin in Q1 2026 as compared to Q1 2025. Glass fiber price declined by 10.3%, SMC price decreased by 11.3%, and prices of UPR declined by 2.7% in Q1 2026 vs. Q1 2025. Prices of glass fiber, UPR, and SMC experienced downward pressure due to a combination of cooling demand in key sectors and competitive pressures, despite underlying volatility in raw material costs. Carbon fiber price increased by 1.8% and epoxy resin price grew by 4.6% in Q1 206 vs. Q1 2025 due to rising raw material costs, energy price volatility, and rising logistics and labor costs. In terms of metals, aluminum and steel prices increased by 11.8% and 5.8% respectively in Q1 2026 as compared to Q1 2025. Aluminum and steel prices increased in Q1 2026 due to supply constraints from the Middle East conflict disruptions, higher energy costs, and robust demand from green energy/EV sectors. Tightening supply in China and a strong investor demand driven by inflation fears further elevated prices, with aluminum seeing significant supply shortages and rising regional premiums. In the forecast period, prices of composites and metals are expected to follow the same price trend as Q1 2026 as shown in the following figure.
Source: Lucintel
Figure: Year-over-Year (YoY) Price Change for Metals and Composites in Q1 2026 and Q2 2026 (e)
