Phthalic Anhydride Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Phthalic Anhydride in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Phthalic Anhydride Price Trend for the October - December of 2023

Asia

The Asian phthalic anhydride market performance continued its uphill journey from the previous quarter in the last quarter of the year as well. The feedstock naphthalene positively drove the phthalic anhydride market sentiments; however, the market demands from the various paints, adhesive, coating, and chemical industries also pushed the phthalic anhydride market forward.

Epichlorohydrin Price Chart

Please Login or Subscribe to Access the Epichlorohydrin Price Chart Data
 

In the Indian market, the monthly growth was marginal, but the performance was consistent and affirmative throughout. The average monthly spot prices for phthalic anhydride went from around 1732 USD/MT in October to about 1763 USD/MT in December’23. This transition caused a marginal appreciation of around 1% in the phthalic anhydride market, but the performance was steady and stable for the entire span of Q4’23.

Europe

The European phthalic anhydride market was also positively driven by domestic demands and offshore supplies. However, the breaking out of the Israeli war during this time further complicated things for the European phthalic anhydride markets. So, with disturbed supplies and regular demands, the phthalic anhydride prices were observed to be subtly fluctuating on the positive side of the price graph.

North America

The North American market behaved a little differently to the other global phthalic anhydride markets as the prices, after staying up for the majority of the first half of Q4’23, started to fall by the second half of Q4’23. The dip in demand caused the price trend to shift to the reverse direction. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Phthalic Anhydride prices are likely to continue to rise in the coming months as well. The supply and demand outlook for the commodity suggests growth in the price trend as it goes forward.

Phthalic Anhydride Price Trend for the July-September of 2023

Asia

In the Asian regional markets, phthalic anhydride’s performance was analyzed to be moderate to high in the price graph. Feedstock naphthalene’s availability and costs were important drivers; however, the sales queries being posed by the adhesive, coating, dyes, and paint sectors were critical in determining the price trend.

Since the construction sector was flourishing in India with rapid public and private infrastructure development, the phthalic anhydride market remained uplifted because of this. Suppliers maintained a consistent flow of supplies, and with a healthy disparity between supply and demand, the price graph remained elevated during the said period.

With an approximate 3% escalation, the monthly average spot prices in the Indian domestic market elevated from about 1640 USD/MT in July’23 to around 1700 USD/MT in September’23. However, the supply and demand gap in the Chinese market was even smaller as the prices fluctuated in a very narrow range in the given period of Q3’23. In the Chinese market, phthalic anhydride prices averaged around 1064 USD/MT during the third quarter of 2023.

Europe

Price analysis for phthalic anhydride in the European regional markets suggests that the commodity prices varied throughout the discussed span of July to September. Several market-driving factors, such as regional inflation, crude oil prices, domestic demands, trade ease, freight situation, and other upstream conditions, led to the wavering of the price graph. The beginning of the quarter scored low at the phthalic anhydride price index, but the month of August saw some improvement up until the inventory stocks again got into the dominating position, and the prices decelerated again at the end of the quarter.

North America

The phthalic anhydride price trend in the North American market were still under the great impact of high economic inflation. As the suppliers were holding back more production and the purchase queries were also feeble, the market trend for phthalic anhydride were mostly found to be tottering at the lower end.

Analyst Insight

According to Procurement Resource, swift variations are anticipated in the Phthalic Anhydride market going forward. Consumer demands and regional economic situations will determine the price trend in the coming months.

Phthalic Anhydride Price Trend for the First Half of 2023

Asia

The price trend for phthalic anhydride registered an inclining trend for most parts of H1’23. The rising demand from the downstream plasticizer industry, coupled with the rising prices of feedstock xylene, aided this price hike. The increased demand for dioctyl phthalate from plasticizer industries was the main reason behind the price rise. However, these trend were subjected to fluctuations, given the regional imbalances. The prices of phthalic anhydride averaged around 7600-7500 RMB/MT towards the end of June’23 in the Chinese domestic market.

Europe

The European market witnessed an oscillating price pattern for Phthalic Anhydride in the first half of 2023. Prices fell continuously in the first quarter as the feedstock naphthalene and xylene and prices declined consistently. The second quarter started with a steady rise in prices, and the demand momentarily rose, but the latter half was accompanied by falling prices. As the freight and trade situation stabilized, the Phthalic Anhydride market strived for normalization resulting in these trend.

North America

The US domestic market witnessed an oscillating trend in phthalic anhydride prices. The prices elevated with the rise in feedstock prices. Further, the rising demands from the downstream sectors aided the upward movement. However, the prices stabilized in the second quarter as the freight cost and logistics stabilized, although the prices still maintained a steady pattern.

Analyst Insight

According to the Procurement Resource, the Phthalic Anhydride prices are expected to continue the steady price incline. As the demand rebounds, the positive upstream cost pressure coupled with growing trade activities will impact the phthalic anhydride market.

Phthalic Anhydride Price Trend for the Second Half of 2022

Asia

The Phthalic Anhydride market observed a very mixed price pattern in the second half of 2022. Prices mostly fluctuated at the lower end of the curve. In the third quarter, the prices declined as the demands from the consumer market reduced considerably.

Suppliers tried to cut down production to clear out the existing inventories and control the price dip, which slightly pushed the prices. But soon, the prices turned south and remained on a plunging trajectory. As the Chinese markets were recovering from the aftermath of Covid 19 lockdown, the construction industry took a hit, and no new orders were being made. Hence, the phthalic anhydride industry was severely affected owing to feeble demand, thereby reducing the prices further.

Europe

The European market witnessed an oscillating price pattern for Phthalic Anhydride in the second half of 2022. The Russia-Ukraine conflict led to an acute energy crisis giving rise to runaway inflation. These high prices led to demand destruction as the purchasing capacities and buying enthusiasm were severely affected. The falling price of feedstock xylene, coupled with reduced offtakes from the construction and paints sectors, further aided this downward trajectory.

North America

In the first half of Q3, the prices of phthalic anhydride decreased, given the declining demands from the end-consumer sectors. However, as the gas prices started stabilizing in the domestic American market, a bearish revival in demand led to a slight inclination in prices. But it was rather short-lived, given the uncertainties in the market. Overall, the trend remained dampened because of the absence of any serious offtakes from the market.

Analyst Insight

According to the Procurement Resource, the price trend for Phthalic Anhydride are expected to remain volatile in the coming quarter. Given the market uncertainties, the revival of healthy downstream demand amid positive cost pressure will likely drive the market for the product.

Phthalic Anhydride Price Trend For the First Half of 2022

Asia

During the first quarter, phthalic anhydride prices inclined gradually due to stable market dynamics. The strong demand from the plasticizer and polyester industry further supported the prices. The price of phthalic anhydride averaged 1562 USD/MT CFR JNPT in the Indian domestic market.

With the Russian invasion of Ukraine and zero-tolerance covid shutdowns in China, the industrial output and market demand suffered, causing the prices to crash. However, towards the end of said period, the prices stabilized and gathered momentum as the downstream demand rebounded, given the favourable market fundamentals.

Europe

The price trend for phthalic anhydride registered a marginal rise in the first quarter owing to stable pricing fundamentals. Towards the second half of Q1, the prices inclined as the petrochemical industry suffered owing to high crude oil and natural gas prices. The high feedstock prices, coupled with complex logistics, inflated freight charges and robust demand from polymer industries, led the prices to rise well within the second quarter.

North America

The US domestic market closely mimicked the  European market. The high feedstock xylene prices due to inflated crude oil and gas prices provided the required cost-side upstream pressure. The demand forms the construction and polymer industries further enhanced the market/prices of phthalic anhydride.

Analyst Insight

According to Procurement and Resource, the prices of phthalic anhydride will likely relax in the upcoming quarter as the market fundamentals stabilize. The dwindling demand will lead to stockpiling of the product as production rates increases and supply constraints soften.

Procurement Resource provides latest prices of Phthalic Anhydride. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.