Pricing Analysis of Metals and Composites – Q1 2025 and Q2 2025 (e)

Prices of composites materials, including glass fiber, carbon fiber, SMC, and epoxy resin increased, except UPR price that saw a decline, in Q1 2025 as compared to Q1 2024. Glass fiber price increased by 23.7%, carbon fiber price grew by 23.4%, SMC price increased by 16.5%, and prices of epoxy resin grew by 2.2 % in Q1 2025 vs. Q1 2024. Composites prices experienced an increase in Q1 2025 due to a combination of factors, including supply chain disruptions, rising costs, and increased demand. Specifically, tight supply of raw materials and rising production costs put upward pressure on prices. UPR price declined by 0.7% in Q1 2025 vs. Q1 2024, several factors contributed to such a situation, including changes in raw material costs, market demand, and overall economic conditions. In terms of metals, steel price declined by 7.9% in Q1 2025 vs. Q1 2024 due to reduced raw material costs. Aluminum price increased by 10.7% in Q1 2025 as compared to Q1 2024. In the forecast period, the prices of composites are expected to follow the same price trend as Q1 2025, except steel, as shown in the following figure.