For the Quarter Ending September 2025
APAC
• In India, the Dibutyl Phthalate Price Index fell 7.6% quarter-over-quarter, pressured by weak monsoon demand.
• The average Dibutyl Phthalate price for the quarter was approximately USD 1299.53/MT, reported by market desk.
• Dibutyl Phthalate Spot Price remained soft; inventories stayed elevated amid subdued construction and coatings demand.
• Dibutyl Phthalate Price Forecast indicates recovery potential post-monsoon supported by seasonal restocking and festival-driven procurement.
• Dibutyl Phthalate Production Cost Trend: limited inflation despite upstream n-butanol volatility, keeping margins under pressure.
• Dibutyl Phthalate Demand Outlook remains muted from construction delays and cautious PVC buyers avoiding purchases.
• Dibutyl Phthalate Price Index weakness reflected elevated inventories, subdued export enquiries, and competitive spot terms.
• Regional logistics and monsoon disruptions affected flows, yet supply remained adequate via efficient depot operations.
Why did the price of Dibutyl Phthalate change in September 2025 in APAC?
• Monsoon-related construction slowdown reduced PVC offtake in September, suppressing Dibutyl Phthalate demand across domestic markets.
• Upstream n-butanol cost increases and refinery outages raised production costs, limiting pass-through to weak buyers.
• Elevated depot inventories and cautious buyers led offers and spot selling, driving Price Index lower.
USA
• In the United States, the Dibutyl Phthalate (DBP) Price Index declined quarter-over-quarter, reflecting lower demand from the plastics and coatings sectors.
• The average DBP price for the quarter remained under pressure due to subdued PVC and construction activity.
• DBP Spot Price softened as high inventories and competitive import offers weighed on domestic trading sentiment.
• DBP Production Cost Trend showed stability, with moderate fluctuations in n-butanol feedstock costs and steady refinery operations.
• DBP Demand Outlook stayed subdued as construction projects slowed and PVC manufacturers reduced off-take volumes.
• DBP Price Forecast suggests slight recovery potential into Q4 2025 as seasonal restocking and packaging demand improve.
• Manufacturers adjusted plant operating rates, aligning output with lower domestic consumption and stable export interest.
• Freight and logistics normalization eased supply chain costs, preventing sharper declines in market prices.
Why did the price of Dibutyl Phthalate change in September 2025 in the USA?
• Weaker construction and PVC demand, along with high inventories, pressured prices lower despite stable feedstock costs.
Europe
• In Germany, the Dibutyl Phthalate (DBP) Price Index fell quarter-over-quarter, as subdued demand from coatings and plasticizer segments persisted.
• The average DBP price for the quarter was influenced by stable feedstock input costs and cautious downstream purchasing.
• DBP Spot Price weakened through September amid high stock levels and limited export activity across the EU.
• DBP Production Cost Trend remained broadly stable, as n-butanol prices fluctuated within a narrow range.
• DBP Demand Outlook stayed soft due to slower construction and packaging sector procurement, with buyers delaying restocking.
• DBP Price Forecast points to gradual stabilization into late 2025, driven by moderate recovery in industrial demand.
• Regional suppliers-maintained output discipline, managing inventories to balance the soft demand environment.
• Import and freight conditions remained steady, keeping landed cost movements limited across European hubs.
Why did the price of Dibutyl Phthalate change in September 2025 in Europe?
• Weak downstream demand and elevated inventories continued to exert downward pressure on regional DBP prices.
For the Quarter Ending June 2025
North America
• The Dibutyl Phthalate Price Index in North America exhibited a modest downward trend in Q2 2025. Prices softened gradually across the quarter, influenced by sluggish demand from the construction and housing sectors, which are major consumers of flexible PVC-based products.
• Why did the price of Dibutyl Phthalate change in July 2025?
In July, DBP prices continued their moderate decline as construction activity remained subdued, and manufacturers operated cautiously. Inventory levels were adequate, and restocking remained conservative amid economic uncertainty.
• Logistics conditions remained mostly normal during the quarter, although higher inland freight rates contributed to slight distribution cost increases for some suppliers.
• The Dibutyl Phthalate Production Cost Trend remained relatively stable, with steady feedstock supply and no major shifts in raw material pricing. However, narrow profit margins persisted due to limited downstream demand.
• Dibutyl Phthalate demand is projected to improve slightly if residential and commercial construction gains momentum. However, macroeconomic factors such as high interest rates and cautious spending could temper the pace of recovery.
APAC
• The Dibutyl Phthalate Price Index in India declined by an average of 1.7% over Q2 2025. Ex-Mumbai prices fell from USD 1423/MT in April to USD 1364/MT by end-June, pressured by soft downstream demand and muted construction activity.
• In April, prices rose by 1.0%, supported by a rebound in automotive sector demand. However, May and June saw a downturn, with prices falling 3.3% and 0.8% respectively, largely due to reduced offtake in flexible PVC applications and seasonal construction delays.
• Why did the price of Dibutyl Phthalate change in July 2025?
In July, DBP prices in India remained under downward pressure. Persistent monsoon-related construction slowdowns and weak coatings sector demand led to subdued depot activity and minimal restocking, keeping the Dibutyl Phthalate Price Index soft.
• Supply remained stable throughout Q2. DBP production continued at moderate-to-high utilization rates, supported by consistent feedstock n-butanol availability. Inventory levels were sufficient, and inland transportation flowed smoothly, except for brief monsoon-related disruptions in June.
• The Dibutyl Phthalate Production Cost Trend eased slightly in May as n-butanol prices fell by 3.8%, lowering input costs. However, margin gains were limited due to weak downstream demand and pricing competition.
• Dibutyl Phthalate Demand Outlook: Demand remained sluggish across the construction and paints sectors, especially during monsoon season. Automotive-related demand offered brief support, but bulk buying remained limited. Recovery is expected post-monsoon.
• The Dibutyl Phthalate Price Forecast for Q3 2025 remains neutral to slightly bearish. Unless demand from real estate and infrastructure projects rebounds significantly, prices are likely to remain range bound.
Europe
• In Q2 2025, the Dibutyl Phthalate Price Index in Europe also trended modestly downward. Prices declined steadily amid weak industrial activity and seasonal downturns in the construction and paints sectors.
• Why did the price of Dibutyl Phthalate change in July 2025?
The July price movement reflected ongoing pressure from low downstream consumption and limited demand recovery in Western Europe. Producers maintained cautious pricing strategies due to ample inventories and muted orders.
• Western European nations, including Germany and France, reported stagnant demand for flexible PVC goods, contributing to low buying sentiment and reduced contract volumes.
• The Dibutyl Phthalate Production Cost Trend was generally stable. However, environmental compliance and tightening regulations around phthalate-based plasticizers placed indirect cost burdens on European manufacturers.
• Q3 demand is expected to remain soft unless large-scale restocking or seasonal project activity resumes. Regulatory pressure may also limit uptake in certain industries.
• The Dibutyl Phthalate Price Forecast for Q3 2025 remains slightly bearish, with some potential for stabilization toward the end of the quarter if industrial activity rebounds modestly.
For the Quarter Ending March 2025
North America
In the first quarter of 2025, Dibutyl Phthalate (DBP) prices in North America experienced a steady decline, largely influenced by weak demand from key downstream sectors. The construction industry, which is a major consumer of DBP in plasticizer applications, remained sluggish due to high interest rates and reduced residential activity, leading to lower procurement levels. The PVC sector also exhibited restrained purchasing behaviour, further dampening demand for DBP during this period.
On the supply side, DBP availability remained sufficient throughout the quarter. Consistent domestic production and relatively stable upstream n-butanol costs ensured an uninterrupted supply flow. However, despite manageable input costs, the market faced excess inventory levels, driven by subdued buying interest and cautious procurement across downstream industries. This supply-demand mismatch kept market sentiment weak and exerted downward pressure on prices.
Overall, Q1 2025 reflected a bearish market for DBP in North America, with ample supply, reduced demand from key end-use sectors, and declining prices dominating the quarterly landscape.
APAC
During Q1 2025, Dibutyl Phthalate (DBP) prices in the APAC region followed a slightly declining trajectory, influenced by weak demand and stable supply conditions. Although upstream n-butanol prices rose initially, this did not translate into higher DBP prices due to subdued downstream consumption, particularly from the PVC and construction sectors. Oversupply and cautious procurement by buyers contributed to limited market movement, with sellers under pressure to maintain competitive pricing amid soft fundamentals.
Supply dynamics throughout the quarter remained steady, supported by consistent domestic production and sufficient feedstock availability. Despite brief cost pressures in the early part of the quarter, easing n-butanol prices toward the end helped stabilize input costs. No significant disruptions were observed in manufacturing or logistics, keeping the market well supplied.
Demand stayed muted across key sectors, including construction and automotive, as industrial activity remained sluggish. Buyers continued essential procurement only, with low inventory levels maintained across the board. Market sentiment remained cautious, limiting any potential rebound in DBP prices during the quarter.
Europe
In the first quarter of 2025, Dibutyl Phthalate (DBP) prices in Europe exhibited a consistent downward trend, primarily influenced by subdued demand from key downstream sectors. The construction industry, a significant consumer of DBP, remained sluggish due to economic uncertainties and reduced housing activities, leading to decreased consumption of plasticizers. This decline in demand disrupted the supply-demand balance, exerting downward pressure on DBP prices.
On the supply side, DBP availability remained ample throughout the quarter. Consistent domestic production and steady imports from Asia ensured sufficient market supply. Despite manageable input costs, the market faced excess inventory levels, driven by subdued buying interest and cautious procurement across downstream industries. This oversupply situation, coupled with weak demand, kept market sentiment bearish and exerted further downward pressure on prices.
Overall, Q1 2025 reflected a bearish market for DBP in Europe, characterized by ample supply, reduced demand from key end-use sectors, and declining prices. The combination of these factors contributed to a challenging market environment for DBP during this period.
For the Quarter Ending December 2024
North America
In Q4 2024, Dibutyl Phthalate (DBP) prices in North America exhibited a mixed trend, influenced by shifting demand dynamics and stable supply conditions. Early in the quarter, seasonal fluctuations and strong demand from downstream industries, such as PVC manufacturing, supported moderate price increases. Key sectors, including construction and consumer goods, experienced heightened activity, driving demand for DBP as a plasticizer. Economic resilience in some regions contributed to steady growth in construction and industrial production, further bolstering demand.
However, the positive momentum was offset by challenges in the latter part of the quarter. A slowdown in economic conditions and reduced consumer spending began to temper demand for DBP in critical sectors like automotive and housing. Seasonal declines in construction activity and logistical challenges, including transportation delays, added downward pressure on prices. Despite these challenges, supply-side factors such as stable production rates and adequate raw material availability ensured consistent market availability, preventing sharp price fluctuations.
Overall, the North American DBP market in Q4 2024 was marked by an initial price uptick driven by robust industrial activity, followed by a gradual decline as economic headwinds and seasonal effects softened demand.
APAC
In Q4 2024, Dibutyl Phthalate (DBP) prices in the APAC region exhibited an overall declining trend, driven by subdued demand across key downstream sectors, despite stable supply dynamics. Early in the quarter, market conditions were characterized by moderate activity, with stable DBP demand in construction and industrial applications. However, rising costs in the construction sector, including labor and borrowing expenses, constrained project budgets, dampening demand for DBP as a key plasticizer in PVC production. Additionally, the post-festive season slowdown in procurement further softened demand in associated markets like PVC.
As the quarter progressed, the slowdown in infrastructure and automotive projects across the region, coupled with weaker consumer sentiment, further weighed on DBP consumption. While the premium housing market displayed resilience, supporting moderate demand for PVC-based products, this was insufficient to offset the overall decline in industrial and consumer goods applications. The automotive sector faced challenges with rising costs and reduced consumer spending, leading to lower demand for DBP in interior trims and wiring.
On the supply side, stable production and efficient supply chains ensured consistent availability of DBP. Despite global trade fluctuations, regional manufacturers maintained balanced inventory levels, preventing supply shortages. However, with persistent economic pressures and reduced downstream activity, DBP prices experienced a gradual decline throughout Q4 2024.
Europe
The Dibutyl Phthalate (DBP) market in Europe exhibited a mixed price trend during Q4 2024, influenced by diverse demand and supply factors. Early in the quarter, demand experienced a seasonal uptick due to heightened production in downstream sectors like construction, automotive, and packaging. The construction sector, buoyed by infrastructure projects and commercial activity, contributed to robust demand for PVC products, where DBP serves as a key plasticizer. Additionally, moderate economic recovery in parts of Europe supported industrial activities, further driving DBP consumption.
However, regulatory pressures surrounding DBP's environmental and health implications began to exert downward pressure on demand. The enforcement of stricter regulations in certain regions led to shifts towards alternative plasticizers, creating a challenging competitive landscape. Toward the latter half of the quarter, economic uncertainties, particularly in major economies, weakened consumer spending and industrial production, softening DBP demand in key sectors.
On the supply side, stable production rates and consistent raw material availability ensured a balanced market. Logistics challenges, including increased transportation costs, occasionally contributed to price fluctuations, but supply disruptions were minimal. Overall, Q4 2024 saw an initial price increase due to strong demand, followed by a gradual decline as regulatory and economic factors weighed on the market.
