Asian Dioctyl Phthalate (DOP) market prices saw a modest increase in June 2025, while major markets such as China and South Korea saw month-on-month gains concerning supply tightening and cost-oriented production difficulties. In contrast, India experienced a notable price drop due to subdued downstream demand, highlighting a divergent trend within the region.
In China, prices of DOP increased by around 1% during the month. This small rise was driven mainly by lower production from domestic plasticizer plants and higher raw material prices. Operating capacities fell at some production units, constricting the availability of DOP in the local market. Meanwhile, feedstock prices like isooctanol and phthalic anhydride recovered as crude oil values increased and plant operating capacities remained limited, driving cost burdens on producers higher.
Restocking operations after the Dragon Boat Festival also played a role in market momentum. Expectation of additional raw material price increases boosted end-users to step up procurement quantities, although overall downstream demand remains moderate, such as for soft PVC and cables. A moderate rebound in export sentiment contributed to this demand support, causing sellers to raise DOP prices with caution.
South Korea followed China's rising trend, with DOP prices increasing by 0.8% in the month. While PVC demand in some Asian economies was soft because of seasonal rains and weak construction activity, South Korea's exports of DOP were helped by consistent foreign orders, especially from the U.S. The nation's low cost and unbroken production helped sustain this resistance. Also, as shipping prices indicated a weakening, increased inland costs and port fees continued to keep supply-side prices high, which urged suppliers to hold tighter offers in the DOP market.
Meanwhile, India's DOP market headed in the opposite direction. Prices declined by 1.8% during June, led by soft demand from major downstream sectors. The major 20% quarter-on-quarter decline in housing sales in Q2 2025 impacted demand for flexible PVC used in cables, pipes, and wires. Other segments, including paints, coatings, and adhesives, also witnessed subpar performances, which further pulled down DOP consumption.
While Indian domestic production was flat, higher freight rates and minor logistical challenges were not enough to counteract the effect of weak demand and conservative stockholding. Forward buying was delayed by buyers as certification slowed and economic mood was subdued, compelling sellers to offer discounts to stay competitive.
As per ChemAnalyst, while the overall Asian DOP market witnessed a moderate price increase underpinned by narrowing supply and increasing input costs, lumpy demand trends between countries maintained the overall sentiment watchful. Market players anticipate near-term price movements to follow the path of cost movements and downstream recovery trends.
