China Epoxy Resin Exports and Prices Rose Y/Y in April

Overview

This report focuses on changes in China's epoxy resin imports, exports, and prices. The key takeaway is that both export volume and export prices improved year over year in April, while import volume also increased year over year; on a year-to-date basis, exports and net exports remain weaker than in the same period last year. The report characterizes China's epoxy resin supply-demand and trade trends through monthly trade volumes, year-to-date cumulative volumes, prices, and net exports.

Core views

April data delivered a mildly positive monthly signal: export volume rose year over year, and the average export price increased meaningfully both month over month and year over year, indicating some improvement in external demand or pricing conditions. But the cumulative picture is more cautious: year-to-date 2026 exports are down 2.5% year over year, net exports are down 25% year over year, and imports are up 21% year over year, suggesting that the overall trade surplus has narrowed and industry fundamentals are not improving in a one-directional way.

Analysis framework

The report mainly uses month-over-month, year-over-year, and year-to-date cumulative comparisons to track China's epoxy resin exports, imports, net exports, and import/export prices, and compares them with historical data from 2024, 2025, and earlier years.

Methodology notes

• trade data trackingimport/export volume and net export analysis

  Observe industry supply-demand and trade competitiveness through exports, imports, and net exports.

  Export growth and rising prices usually point to improving external demand or pricing, but if imports also rise and net exports decline, it suggests that domestic supply-demand or the trade surplus is still under pressure.

• price analysisyear-over-year and month-over-month price comparison

  Use month-over-month changes to measure short-term price momentum and year-over-year changes to measure price shifts versus the same period last year.

  The April average export price rose 13.4% month over month and 24.6% year over year, indicating strong price momentum in the month; import prices also rose both month over month and year over year.

Asset mapping & comparison

Structured mapping from thesis to named assets (strengths, weaknesses, peers, risks).

• epoxy resins

  research target

  Strengths

  April export volume increased year over year, and export prices rose significantly both month over month and year over year.

  Weaknesses

  Year-to-date 2026 export volume declined year over year, and net exports fell 25% year over year.

  Comparison

  After strong export growth in 2024, full-year 2025 exports fell 3.8% from 2024; year-to-date 2026 data still trails the same period last year.

  Risks

  The month-level price increase may not be sustainable, and rising imports and narrower net exports may reflect supply-demand pressure.

• China chemical export chain

  related macro industry mapping

  Strengths

  Improving export prices for some chemical products may increase export revenue.

  Weaknesses

  Cumulative exports have not improved in line with this, and the trade surplus has narrowed.

  Comparison

  2023 was the first year from 2017 to 2025 to achieve positive net exports; net exports expanded sharply in 2024 and then eased in 2025.

  Risks

  Overseas demand volatility, price pullbacks, domestic oversupply, or import-substitution pressure.

Key data

• April export volume25.6ktAbove 23.5kt in April 2025.
• 2026 year-to-date export volume84.2ktDown 2.5% year over year.
• April import volume13.4ktUp 11% year over year.
• 2026 year-to-date import volume51.2ktUp 21% year over year.
• April average export price$2,560/tUp 13.4% month over month and 24.6% year over year; March was $2,258/t and April 2025 was $2,055/t.
• April average import price$4,715/tUp 5.1% month over month and 6.7% year over year.
• 2026 year-to-date net exports32.9ktDown 25% year over year.
• Full-year 2025 exports251.5ktDown 3.8% from 2024; full-year 2024 exports were 261.6kt, up 51% year over year.
• Full-year 2025 net exports104.1ktDown 14% year over year; net exports were 120kt in 2024 and 13kt in 2023.

Impact & implications

For chemical products and the epoxy resin industrial chain, the rise in export prices in April helps improve per-ton revenue and export profitability, but the year-to-date decline in exports and net exports means that demand recovery or external trade competitiveness still needs further validation. If export prices remain elevated and net exports improve again later, this could support profitability at related chemical companies; conversely, rising imports and weaker net exports may limit the pace of industry recovery.

Risks

• The improvement in April monthly data may not represent a reversal in the full-year trend.
• Import volume is growing faster than cumulative export performance, which may compress net exports.
• If the export price increase is driven by short-term factors, there is a risk of subsequent pullback.
• The report does not provide company earnings estimates or stock ratings, so it cannot be used to directly infer a specific investment conclusion.

What to watch

• Whether export volume in subsequent months continues to exceed the same period last year.
• Whether the average export price can stay near $2,560/t or continue to rise.
• Whether the year-to-date 2026 decline in exports narrows.
• Whether import growth slows and net exports resume growth.
• Profit margins and inventory changes at epoxy resin-related companies.