2025 Paint Raw Material Prices Revealed: Over 90% Hit Record Lows!

Recently, the prices of chemical products in the Chinese chemical market have been rising across the board. Many professionals in the coatings industry have asked me whether the prices of major raw materials for coatings are expected to rise or fall in 2026? Will our costs increase or decrease compared to 2025? Although the market prices of many direct and indirect raw materials used in coatings manufacturing, such as pure benzene, styrene (SM), adipic acid (AA), PTA, ethylene glycol, n-butanol, ethylene glycol butyl ether, methyl ethyl ketone, MIBK, glycerol (99.5%), and maleic anhydride (solid), have indeed risen in the past few weeks (for example, butyl acetate surged by 20% in the past three weeks, and TMP also increased by 14% in the past three weeks), the market prices of more major raw materials such as titanium dioxide, xylene, and phthalic anhydride have only slightly increased, remained unchanged, or even experienced a slight decline, such as TDI and dimethyl carbonate (DMC) produced from coal.
Based on my personal understanding of the market, the average market price of most direct and indirect raw materials used in coatings in 2025 was lower than in 2024, and the market prices of over 90% of raw materials reached new lows in the past twenty years (with the exception of 2020).
Below, we will analyze the market for major raw materials that are of high concern to everyone in 2026, hoping to help your company better control procurement costs.

一、2025 Raw Materials Market Review

A. Over the past 10 years, the prices of most solvents used in coatings have plummeted by more than 40%: Xylene (a major solvent for industrial coatings): Market price once reached 11,000 yuan/ton, now it is 5650 yuan/ton. A sharp drop of 48.64%! Average price in 2025 compared to the previous year: -15.85%. Butyl acetate (a major solvent for wood coatings): Market price once reached 12,000 yuan/ton, now it is 6610 yuan/ton. A sharp drop of 49.2%! Average price in 2025 compared to the previous year: -21.15%. Ethyl acetate (a major solvent for industrial coatings): Market price once reached 10,000 yuan/ton, now it is 5160 yuan/ton. A sharp drop of 48.4%! Average price in 2025 compared to the previous year: -11.68%. Ethylene glycol monobutyl ether (a major solvent for industrial coatings): Market price once reached 26,000 yuan/ton, now it is 7200 yuan/ton. A sharp drop of 72.31%! Dimethyl carbonate (a major solvent for wood coatings): Market price once reached 12,000 yuan/ton, now it is 3800 yuan/ton. A sharp drop of 68.33%! Average price in 2025 compared to the previous year: -8.5%. MIBK (a major solvent for industrial coatings): Market price once reached 26,000 yuan/ton, now it is 7200 yuan/ton. A sharp drop of 72.31%! Average price in 2025 compared to the previous year: -35.42%. Trimethylbenzene (a major solvent for industrial coatings): Market price once reached 10,000 yuan/ton, now it is 5800 yuan/ton. A sharp drop of 42%! Average price in 2025 compared to the previous year: -16.14%. Tetramethylbenzene (a major solvent for industrial coatings): Market price once reached 10,000 yuan/ton, now it is 5400 yuan/ton. A sharp drop of 46%! Average price in 2025 compared to the previous year: -16.63%. N-butanol (a major solvent in industrial coatings): The market price once reached 20,000 yuan/ton, but has now fallen to 6,600 yuan/ton. A sharp drop of 34%! Average price in 2025 compared to the previous year: -21.43%.

B. Over the past 10 years, the prices of most raw materials used in synthetic resins have plummeted by more than 50%. Phthalic anhydride: Market price once reached 12,000 yuan/ton, now it is 5,700 yuan/ton, a sharp drop of 52.5%! Average price in 2025 compared to the previous year: -12.08%. Maleic anhydride (solid): Market price once reached 18,000 yuan/ton, now it is 4,700 yuan/ton, a sharp drop of 73.9%! Average price in 2025 compared to the previous year: -13.76%. Trimethylolpropane: Market price once reached 30,000 yuan/ton, now it is 9,300 yuan/ton, a sharp drop of 69%! Average price in 2025 compared to the previous year: -10.18%. Acrylic acid – general grade: Market price once reached 16,500 yuan/ton, now it is 5,600 yuan/ton, a sharp drop of 66.06%! Average price in 2025 compared to the previous year: +2.79%. Butyl acrylate: Market price once reached 16,500 yuan/ton, now it is 7,100 yuan/ton, a sharp drop of 57%! Average price in 2025 compared to the previous year: -12.48%. Neopentyl glycol (NPG): Market price once reached 20,000 yuan/ton, now it is 6,900 yuan/ton, a sharp drop of 65.5%! Average price in 2025 compared to the previous year: -14.23%. Diethylene glycol: Market price once reached 10,000 yuan/ton, now it is 3,160 yuan/ton, a sharp drop of 68.4%! Average price in 2025 compared to the previous year: -19.61%. Styrene (SM): Market price once reached 15,000 yuan/ton, now it is 7,750 yuan/ton, a sharp drop of 48.33%! Average price in 2025 compared to the previous year: -18.8%. Styrene (SM) market price has risen from 6400 RMB/ton to 7750 RMB/ton in the past month, otherwise the decline would have been even worse.
C. In the past 10 years, the prices of most raw materials for coatings have plummeted by more than 45%. TDI: The market price once reached 54,000 RMB/ton, and now it is 13,700 RMB/ton, a sharp drop of 74.63%! Main curing agent for wood coatings; HDI: The market price once reached 76,000 RMB/ton, and now it is 23,000 RMB/ton, a sharp drop of 69.74%! Main curing agent for industrial coatings; Epoxy resin E-51 (128): The market price once reached 30,000 RMB/ton, and now it is 9300 RMB/ton, a sharp drop of 69%! Main resin for industrial coatings; Ethylene glycol: The market price once reached 10,000 RMB/ton, and now it is 3900 RMB/ton, a sharp drop of 61%! 2025 average price year-on-year: -5.4%. Main raw material for synthetic resins; Adipic acid (AA): The market price once reached 16,000 RMB/ton, and now it is 6900 RMB/ton, a sharp drop of 56.88%! 2025 average price year-on-year: -20.75%. Main raw material for synthetic resins; MMA: The market price once reached 16,500 RMB/ton, and now it is 9100 RMB/ton, a sharp drop of 44.85%! 2025 average price year-on-year: -26.2%. Propylene glycol methyl ether acetate (PMA) – drummed, the current market price is only 8400 RMB/ton. In the fourth quarter of 2025, you can even buy styrene-acrylic emulsion for less than 4000 RMB/ton (the purchase price for large manufacturers is even lower), and some people are currently buying water-based resins for less than 10,000 RMB/ton. The market price of general-purpose acrylic resin no longer needs to be 9000 RMB/ton. D. In summary, due to the decline in the prices of most raw materials, the paint companies I know have basically not suffered any losses, and all of them reported making profits to varying degrees.

D. In summary, due to the decline in the prices of most raw materials, the paint companies I know have basically not suffered any losses, and all of them reported making profits to varying degrees.