Dioctyl Phthalate (DOP) Prices

Dioctyl Phthalate Prices June 2024

During the second quarter of 2024, the dioctyl phthalate prices in the South Korea reached 1535 USD/MT in June. The market faced a steep decline due to an oversupply and weak demand. The bearish market persisted as high inventory levels continued to outpace buyer interest. Despite maintenance turnarounds at key facilities like LG Chem Ltd., these disruptions were not enough to counteract the downward pricing trajectory. Market sentiment remained cautious, with buyers holding back on procurement in anticipation of further price reductions.

Dioctyl Phthalate Prices December 2023

The dioctyl phthalate prices in South Korea for Q4 2023 reached 1495 USD/MT in December. During Q4 2023, the Dioctyl Phthalate (DOP) market in South Korea experienced price fluctuations due to a combination of factors. The temporary closure of the feedstock propylene plant belonging to SK Geo Centric disrupted raw material supplies, impacting DOP production. Although there was some recovery in the manufacturing sector, a weak economy and a high Consumer Price Index led to the limitation of consumer spending, which in turn affected downstream demand for DOP.

Regional Coverage

The report provides a detailed analysis of the dioctyl phthalate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the dioctyl phthalate price trend.

Global Dioctyl Phthalate Price

The report offers a holistic view of the global dioctyl phthalate pricing trends in the form of dioctyl phthalate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into dioctyl phthalate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into dioctyl phthalate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed dioctyl phthalate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Dioctyl Phthalate Price

Q2 2024:

During the second quarter of 2024, there was a small drop in the prices in Europe, brought on by low local demand and increased rivalry between suppliers. The market experienced decreased production levels due to economic uncertainty and logistical disturbances causing additional pressure. Germany experienced the largest decrease due to increased manufacturing expenses and lower demand from the plasticizer sector. A labor strike at prominent German ports including Hamburg and Bremen caused disruptions to port activities, putting additional pressure on the market. Ongoing supply issues continued to keep the pricing environment subdued.

Q1 2024:

The prices in Europe showed an upward trend during Q1 2024, largely attributed to supply chain challenges and moderate demand. Disruptions in logistics, particularly those tied to instability in the Red Sea region, aided in these price movements. Downstream industries, especially the plasticizer sector, slowed production due to supply constraints, prompting a careful market approach. Despite weak demand in construction and related sectors, DOP availability in Germany remained limited. Rising crude oil prices and escalating input rates further tightened supply. By March, the approaching Easter holiday exacerbated concerns over potential port closures, heightening supply challenges and supporting higher prices.  

Q4 2023:

The European dioctyl phthalate (DOP) market experienced a general decline in prices during Q4 2023. This was largely due to decreased demand from industries like plasticizers as well as construction. Although concerns regarding potential freight disruptions arose late in the quarter, price fluctuations remained minimal. Extended import transit times and ample inventory levels contributed to the downward trend. Germany saw the most significant price shifts, following a negative trend throughout much of 2023. Efforts to lower production rates to maintain profit margins were not sufficient to overcome the import's competitive pressures. Even with production reduction, the market faced ongoing difficulties, particularly owing to weak demand for PVC in the final quarter. Disruptions in the prices of shipping and falling crude oil also played an important role in shaping the pricing trends during this period.

This analysis can be extended to include detailed dioctyl phthalate price information for a comprehensive list of countries.

North America Dioctyl Phthalate Price

Q2 2024:

In the second quarter of 2024, there was a substantial increase in prices in North America, primarily propelled by limited supply and escalating input costs. Inventory deficits and a recent peak in crude oil played a part in the situation. Extreme weather circumstances such as floods and hurricanes caused additional strain on the supply chain by disturbing production and industrial demand. Transportation problems along with container deficiency, caused an increase in DOP prices. The American market saw significant price increases due to high need within the country and greater chances for exports to Asia and Africa. Changes in weather patterns increased limitations in supply, leading to increased inflation in the plasticizer industry.      

Q1 2024:

In Q1 2024, the rates in North America increased steadily. The rise was primarily fueled by increased plasticizer sector demand, driven by continued construction growth, and expanding production operations. Nevertheless, when the Francis Scott Key Bridge in Baltimore collapsed, logistical issues emerged, further complicating shipping in the US. The area was already facing difficulties with shortages of tank supplies on account of severe weather. At the same time, indicators such as solid payroll data suggested a robust labor market, while high interest rates continued to limit economic expansion.  

Q4 2023:

During the Q4 2023, DOP prices in North America reduced, primarily due to lower orders from downstream sectors and a huge supply. The sluggish recovery of the U.S. economy, coupled with declining conditions in sectors that use plasticizers, led to reduced DOP demand. Anticipating price increases owing to a latest import tariff, many buyers stopped buying, contributing to the price drop. Furthermore, global issues like the Russia-Ukraine conflict and the Panama Canal drought complicated global logistics. The significant difference between spot export as well as contracted rates prompted U.S. buyers to push for price reductions. Shipping disruptions and falling crude oil prices further influenced the DOP market's pricing trends during this period.

Specific dioctyl phthalate historical data within the United States and Canada can also be provided.

Middle East and Africa Dioctyl Phthalate Price

The report explores the dioctyl phthalate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on dioctyl phthalate prices for countries can also be provided.

Asia Pacific Dioctyl Phthalate Price

Q2 2024:

During the second quarter of 2024, the prices in the Asia-Pacific area decreased constantly due to low demand from downstream industries, increased stock levels, and lower costs of raw materials. The large-scale economic deceleration, especially in the real estate and industrial industries, also played a role in this pattern. South Korea experienced major price drops caused by an excess supply and lack of buying demand. Maintenance closures, such as those at LG Chem Ltd had little effect on turning around the downward price trajectory. Increased caution in purchasing, due to anticipated price drops, heightened the decline in DOP prices during the quarter.

Q1 2024:

In the first quarter 2024, the costs in the Asia Pacific faced variations as a result of multiple market factors. Significant contributions were made by reduced regional inventory and constant requirement from downstream industries. Yet, there was still tepid interest from the domestic market for plasticizers, causing a guarded outlook for the market. At the same time, China saw a continuous decrease in DOP prices due to ongoing restrained buying behavior. The decrease was caused by low demand in the Chinese plasticizer industry and converters holding high levels of inventory. Despite expecting some maintenance shutdowns, the market was mostly controlled by plentiful supply and a sluggish rebound in demand.  

Q4 2023:

In the Asia-Pacific region, particularly during the last quarter of 2023, several factors shaped the Dioctyl Phthalate (DOP) market. Weak demand from major sectors, such as automotive and construction exerted decreasing price pressure. Furthermore, aggressive pricing tactics from China posed some major challenges for the producers of South Korean DOP. The Propylene plant of the SK Geo Centric's temporary closure in South Korea further caused disruption in the supply chain, reducing the widespread raw material availability. Despite these obstacles, prices of DOP in South Korea remained relatively stable, with traders keeping competitive pricing. The Propylene plant maintenance created supply chain gaps, though a modest recovery in the manufacturing industry and accelerated purchasing activity helped sustain demand. But the high CPI and low economic conditions lowered consumer spending, thereby influencing plasticizer demand.

This dioctyl phthalate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Dioctyl Phthalate Price

The analysis of dioctyl phthalate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Dioctyl Phthalate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Dioctyl Phthalate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of dioctyl phthalate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of dioctyl phthalate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of dioctyl phthalate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing dioctyl phthalate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Dioctyl Phthalate Market Analysis

The global dioctyl phthalate market size reached US$ 1.9 Billion in 2023. By 2032​, IMARC Group expects the market to reach US$ 3.1 Billion, at a projected CAGR of 5.40% during 2023-2032​.

• The rising adoption of dioctyl phthalate in the construction sector owing to its plasticizing properties that enhance their performance and durability is supporting the market growth. Dioctyl phthalate is used in polyvinyl chloride (PVC)-based building materials, such as fittings, pipes, wall covering, flooring, window profiles, and insulation materials. Its plasticizing properties assist in providing enhanced functionality, durability, and sustainability to construction materials. In addition, there is a rise in the construction of commercial and residential space. The India Brand Equity Foundation (IBEF) claims that the residential property market in India reached US$ 42 billion in the financial year 2023.
• Dioctyl phthalate is widely employed in industrial wood coating to enhance the performance properties of the wood coating formulations. The increasing adoption of high-quality, durable, and aesthetically pleasing furniture among individuals on account of their improving living standards is catalyzing the demand for dioctyl phthalate.
• The dioctyl phthalate demand is further impelled by its utilization as a plasticizer to produce medical and sanitary items, like dialysis equipment and blood bags. Dioctyl phthalate benefits in stabilizing the membranes of red blood cells (RBCs) and allows blood product storage in PVC blood bags for many weeks. According to the IMARC Group’s research report, the global blood bags market is anticipated to grow to US$ 579.0 Million by 2032.
• Dioctyl phthalate is also becoming increasingly popular in the electronics sector. It is employed as a polymeric coating on cables and wires to improve the elasticity of the product. It can also produce electrical housings, connectors, and other electrical components. It assists in providing softness and stability against heat and ultraviolet (UV) light. The rising utilization of cables and wires for various purposes is propelling the growth of the dioctyl phthalate.
• The dioctyl phthalate market share is further being reinforced by the rising product application to manufacture PVC automotive components, like door panels, dashboards, seat covers, and interior rims.

Dioctyl Phthalate News

The report covers the latest developments, updates, and trends impacting the global dioctyl phthalate industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in dioctyl phthalate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the dioctyl phthalate price trend.

Latest developments in the dioctyl phthalate industry:

• On 3^rd July 2023, Sohar Freezone and Nasim Chemicals signed an agreement to establish a dioctyl phthalate and dioctyl terephthalate plant with a total investment of US$ 10.4 million. The plant, set to begin construction by the end of this year, will cover 5,000 m² and have an annual production capacity of 30,000 tons. Expected to boost local logistics activities and increase Sohar port's container throughput by 2,000 TEU annually, it will also create downstream opportunities for PVC products.

Product Description

Dioctyl phthalate is a clear, colorless, and viscous liquid with a slight or characteristic odor. It is soluble in ethanol, ether, mineral oil, and many organic solvents. It is immiscible with water, resistant to hydrolysis and air oxygen activity, and does not evaporate easily. It is a man-made substance used to keep plastics soft and more flexible. It is a non-volatile solvent that is used as a plasticizer for several polymers, such as polystyrene (PS), polyvinyl chloride (PVC), and polyisoprene (PI).

Apart from this, dioctyl phthalate has high plasticizing efficiency, low volatility, ultraviolet (UV)-resisting property, enhanced electric property, water-extracting proof, superior fusion rate, and cold-resisting property. It is also used as a hydraulic fluid and as a dielectric fluid in capacitors.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of dioctyl phthalate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting dioctyl phthalate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The dioctyl phthalate price charts ensure our clients remain at the forefront of the industry.