The prices of petroleum derivatives are rising sharply, leading to a wave of price adjustments in the paint industry.

International oil prices have recently surged, putting pressure on downstream paint companies' costs. Because crude oil accounts for over 40% of the cost of paint production, paint prices are highly correlated with oil prices. The rise in crude oil prices has driven up the prices of petroleum-derived solvents, resins, additives, and other products rapidly. Taking epoxy resin, a main raw material for paint production, as an example, its price has increased from 14 yuan per kilogram to 20 yuan, a significant increase. Many companies are forced to reduce their purchases and reserves of raw materials in order to control costs. Faced with the "out-of-control" rise in raw material prices, over 20 key companies in the paint industry in China have released price adjustment notices, covering all categories including architectural paint and industrial anti-corrosion paint. However, the downstream paint industry shows significant differences in acceptance of price increases: sectors such as home decoration and automobile have a higher tolerance for price increases, while traditional industries are more sensitive to price hikes. Industry experts indicate that the future trend of paint prices will still depend on oil prices in the short term. As the cost pressures continue, it may be easier for paint prices to rise rather than fall in the future.