- Global phthalic anhydride prices were mostly firm in Q1’26, with Asia seeing the strongest upward pressure, while Europe and North America were driven mainly by feedstock and logistics risk.
- Feedstock pressure came from crude, naphtha, o-xylene, and industrial naphthalene. The Iran war and Strait of Hormuz disruption raised shipping uncertainty and tightened petrochemical trade sentiment from March.
- Downstream demand from plasticizers, unsaturated polyester resins, coatings, and alkyd resins stayed steady. Buyers avoided heavy restocking, but limited availability and higher replacement costs supported firm offers.
Asia
In Asia, phthalic anhydride prices strengthened during Q1’26, especially in March, as crude and naphtha volatility lifted o-xylene and naphthalene costs. China also faced tighter supply due to lower plant operating rates, which improved seller confidence. The Strait of Hormuz disruption affected petrochemical cargo flows into India and other Asian destinations, with several offers withdrawn or suspended on March 2. Plasticizer demand improved as DOP operating rates recovered, allowing producers to pass on higher raw material costs.
Europe
In Europe, phthalic anhydride prices were mainly cost-led. Upstream crude and naphtha volatility affected contract discussions for petrochemical feedstocks, while the European xylenes and toluene market turned cautious as traders delayed spot volumes. Higher freight risk and reduced Middle East offers added replacement-cost pressure. Downstream demand from plasticizers, resins, and coatings remained steady, supporting firm offers despite cautious buying.
North America
In North America, phthalic anhydride market sentiment stayed steadier than Asia, but higher crude, freight, and global feedstock risk supported prices. The region benefited from shifting trade interest as disrupted Middle East flows made alternative cargoes more relevant. Demand from plasticizers, coatings, resins, and industrial applications remained moderate, so price support came mainly from replacement cost pressure.