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 First Half of 2023
The price trends 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 trends 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.
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 trends.
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.
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
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.
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.
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 trends remained dampened because of the absence of any serious offtakes from the market.
According to the Procurement Resource, the price trends 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
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.
The price trends 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.
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.
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.
Phthalic anhydride is the anhydride of phthalic acid and is a cyclic dicarboxylic anhydride. It is a 2-benzofuran and a cyclic dicarboxylic anhydride. Phthalic anhydride is a colourless to white lustrous solid with a mild distinctive odour.
|Product Name||Phthalic Anhydride|
|Industrial Uses||Adhesives and sealant chemicals, Electrical and Electronic Products, Production of inks and dyes, Paints and Coatings|
|Synonyms||1,2-benzenedicarboxylic anhydride, Phthalandione|
|Molecular Weight||148.11 g/mol|
|Supplier Database||BASF SE, Dow Chemicals, Lanxess AG, Dow Chemical Company, Avient Corporation, SABIC, Mitsubishi Chemical Corporation|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The commercial production of phthalic anhydride includes the gas-phase oxidation of naphthalene with a mixture of mercuric sulphur and copper sulphate in the presence of sulphuric acid.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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