For the Quarter Ending March 2023
North America
The price pattern of Dioctyl phthalate (DOP) in the first quarter of 2023 fluctuated throughout the quarter, with a modest decline in the middle of the quarter. It is interesting to note that the prices increased at the beginning of Q1 due to rising demand and a limited supply of materials. The increase in the feedstock phthalic anhydride prices in the region also had an impact on the DOP prices. The declining demand and stockpiling of material in warehouses also affected the market value of DOP. However, it was witnessed that the prices increased gradually and slightly over the course of the last month of the quarter due to an increase in demand from the plasticizers industry. Overall, the oscillating price pattern of DOP in Q1 suggests that the market was experiencing fluctuations in supply and demand.
Asia Pacific
It appeared that the Dioctyl phthalate (DOP) market showed a mixed price trend during the quarter, with prices rising for the most part and declining only in the mid-month. It was noted that the domestic phthalic anhydride plant operated stably during the quarter, and the spot supply in the market was normal. The rise in replenishment after the Spring Festival, along with an uptrend in the feedstock phthalic anhydride market, also contributed to the rise in prices for the major parts. However, the plasticizer manufacturer started temporarily stable during the quarter, and downstream procurement remained strong. Overall, the positive consumer sentiments and enthusiasm amongst the DOP producers led to the prices hovering at USD 1473/MT Ex-Shanghai during March.
Europe
The Dioctyl Phthalate (DOP) market experienced some fluctuations in prices during the first quarter of 2023. It was noted that the prices in Europe were rising at the start of Q1 due to strong demand from downstream plasticizer industries. This suggests that the demand for DOP was robust during the beginning of the quarter. However, the lower product prices observed during February indicate that there was a downturn in demand from the plasticizer industry. This could have been due to various factors, such as changes in consumer preferences or shifts in market dynamics. Overall, the modest supply and demand fundamentals in Europe during Q1 2023 led to fluctuations in the prices of DOP.
For the Quarter Ending December 2022
North America
Dioctyl Phthalate (DOP) price in North America displayed fluctuating market sentiments in the final quarter of 2022. Due to fluctuating feedstock costs for phthalic anhydride and 2-Ethyl Hexanol, as well as altering demand from downstream plasticizer producers of synthetic rubber, the price trend for DOP changed. However, the dynamics of DOP in the US market were also influenced by various factors, including changing consumer attitudes, inflationary pressure, and fluctuating currency values. Meanwhile, there was much inventory in the second half of the quarter, which was evident due to the decreased orders, which kept prices in the local markets low. Additionally, even while consumer activity picked up, local prices stayed high as the quarter ended.
APAC
Due to the high build-up of Dioctyl Phthalate (DOP) inventories in the Asia Pacific region during the quarter, the price trend of DOP fluctuated in China. Nevertheless, the price trend was low in China in November, and the price dropped significantly on the back of fluctuating feedstock phthalic anhydride and 2-Ethyl Hexanol prices. Meanwhile, product prices were cut in South Korea, which led to a decline in product quotes from Chinese exporters. In conclusion, the product offtakes were mild, and the price of Dioctyl Phthalate (DOP) Spot Ex- Shanghai assembled at USD 1454/MT in October after a monthly slide of 3.2% in product pricing. Later, due to the impact of the COVID restriction, which disrupted the product's shipping, the price was seen to be increasing toward the conclusion of the fourth quarter.
Europe
During the fourth quarter of 2022, Dioctyl Phthalate (DOP) Price fluctuated throughout Europe, mirroring the pattern of the Asian market. However, because there was a steady supply and plenty of material available, producers were able to deliver the goods on schedule. Due to easing supply limitations and decreased demand, price inflation for both input and product decreased. Later, in the second half, the price grew marginally due to growing energy expenses amidst rising production costs. End-use demand has been consistent from downstream plasticizers in PVC paste and pulp mixtures and as an additive in many other processes, driving the demand for DOP in the European market. As a result, throughout the fourth quarter, the price of DOP in the Eurozone varied.
For the Quarter Ending September 2022
North America
Dioctyl Phthalate (DOP) market in the American market fluctuated in the third quarter due to declining consumer confidence. However, due to unfavorable market sentiments and slow offtakes as a plasticizer in PVC paste and pulp mixtures and as an additive in many other processes, the price for DOP fluctuated in the region. In addition, the feedstock 2-EH (2 Ethyl Hexanol) and PA (Phthalic Anhydride) market observed a mixed price trend which further supported the DOP price to follow the same. However, Manufacturers had stocked enough inventories in anticipation of Hurricane Ian's impact, which led to the overflowing stock as demand muted in the region.
APAC
The price trend of DOP dwindled consistently in China due to the build-up of stock inventories of DOP phthalate during the lockdown, and prices plummeted significantly. However, in July, the price trend was persistent in China, and the price decreased noticeably in the domestic market. Later, Due to the rising energy prices and Covid restrictions, the production cost increased in China. Thus, tight product availability and slow operating rate loomed over the market, leading to the Chinese market's hike in DOP prices. The price rose in the second part of Q3 as demand increased from the downstream plasticizer industry for its utilization as PVC, contributing to the cost of Dioctyl Phthalate (DOP), which assembled at USD 1440/MT during September.
Europe
The domestic market's demand for DOP kept declining, and the price pressure on 2-EH (2 Ethyl Hexanol) and PA (Phthalic Anhydride) as feedstock also slowed. However, its price has dropped to a low point due to adverse market sentiments and sluggish end-use industry offtakes. Downstream PVC, paints and coatings, printing inks, adhesives and sealants, and lacquers sectors were experiencing a decline in demand. As a result, the region had a substantial supply-demand imbalance in the second half of the quarter and has shown no signs of short-term recovery. Therefore, poor demand and a sluggish market outlook led to a drop in DOP prices.
Being the major global manufacturer of EV auto vehicles, the demand sentiments remained solid for phthalates from the automotive and construction sector in the North American region, and the price trend of Dioctyl Phthalate remained strong throughout quarter 2 of 2022. The product costs rose substantially at the beginning of the Q2 due to a surge in feed 2-Ethylhexnol prices and upstream costs, along with increased energy costs in the region impacted by global inflation and soared crude oil prices. However, from the mid-quarter, the DOP price trend stabilized, and the monthly increment in price was marginal until the end of the quarter.
During Q2 of 2022, the price movement of Dioctyl phthalate inclined upward in the Asian region except for China. In India, with a quarterly increment of 5% since Q1, product prices sloped upward till the mid-quarter, backed by the consistent demand for phthalate in the domestic construction and the automotive sector. On the contrary, prices declined continuously in China throughout the Q2 due to continuous contraction in feed 2-Ethylhexanol prices and build-up material stock inventories during frequent lockdowns and congestion of port. At the same time, the DOP prices remained strong in the regional manufacturer of phthalate in South Korea.
The price trend of Dioctyl phthalate remained consistent in the European region, with a significant increment in price at the beginning of quarter 2. Post-war in the east-European region, severe inflation, and shortages of Crude oil supplies affected the petrochemicals market, and feed 2-Ethylhexanol costs rose sharply. However, feed costs stabilized in the mid-quarter, but rising energy costs along with high freight and fuel charges in the region kept the prices on the higher side. After the mid-quarter, the product prices rose marginally till the end of Q2. The demand was consistent in the downstream construction and automotive sector in the quarter. However, product supplies and offtakes were affected in the region due to the shortage of containers.
