The prices of all major chemicals, such as thermoplastic resins, packaging materials, adhesives and sealants, and paints & coatings, increased in Q1 2025 as compared to Q1 of 2024. In Q1 2025, prices of thermoplastic resins, packaging materials, adhesives & sealants, and paints & coatings increased by 1.6%, 1.4%, 1.7%, and 2.1% respectively as compared to Q1 2024. Thermoset resin price declined by 0.1% in Q1 2025 vs. Q1 2024. In the first quarter of 2025, chemical prices experienced fluctuating and increase due to a combination of factors, including raw material price hikes, supply chain disruptions, increased demand in some sectors, and changes in global trade dynamics. In the forecast period, prices of all chemicals are expected to follow the same price trend as Q1 2025. The figure below shows changes in prices of various chemicals in Q1 2025 and forecast for Q2 2025.
Source: Lucintel
Figure: Year-over-Year (YoY) Price Change for Various Chemicals in Q1 2025 and Q2 2025 (e)
