For the Quarter Ending December 2025
APAC
• In India, the Dibutyl Phthalate Price Index fell by 7.06% quarter-over-quarter, reflecting subdued construction demand.
• The average Dibutyl Phthalate price for the quarter was approximately USD 1248.51/MT, per market aggregates.
• Dibutyl Phthalate Spot Price held near import-parity levels as steady imports balanced production and demand.
• Dibutyl Phthalate Price Forecast points to limited upside unless construction activity and export demand strengthen.
• Dibutyl Phthalate Production Cost Trend eased modestly as n-butanol and phthalic anhydride costs softened slightly.
• Dibutyl Phthalate Demand Outlook remains muted as downstream PVC and plasticizer buyers limit procurement activity.
• Dibutyl Phthalate Price Index stability reflected normal plant rates, steady imports and absence of outages.
• Inventory accumulation and distributor discounts capped upside while logistics continuity prevented acute supply-driven price spikes.
Why did the price of Dibutyl Phthalate change in December 2025 in APAC?
• Stable import flows and uninterrupted domestic production maintained availability, limiting upward pressure on local prices.
• Weaker construction activity and conservative downstream purchasing reduced spot inquiries, diminishing buying support for prices.
• Marginal easing in n-butanol and phthalic anhydride costs improved production economics, supporting stable margins overall.
North America
• The Dibutyl Phthalate Spot Price in North America trended broadly firm through Q4 2025, with the regional Price Index supported by steady demand from PVC compounding, adhesives, and coatings.
• The Dibutyl Phthalate Demand Outlook was moderately positive as flexible PVC demand in wire & cable, films, and certain construction uses held up, while adhesive and ink demand from packaging and converting remained resilient.
• The Dibutyl Phthalate Production Cost Trend edged higher in October–November on firm phthalic anhydride and n-butanol prices, as well as elevated energy and logistics costs, before stabilizing in December as utilities softened.
• Regional producers ran at balanced rates, and cautious import volumes from Asia prevented inventory overhang, helping keep the Price Index supported relative to more regulated markets.
• The Dibutyl Phthalate Price Forecast for early 2026 in North America is stable-to-mildly bullish, assuming continued demand in legacy PVC and adhesive applications, even as some customers gradually shift toward alternative plasticizers.
• The Price Index increased in December 2025 as year-end restocking by PVC compounders and adhesive producers coincided with still-firm feedstock costs and limited spot availability, preventing any meaningful decline in the Dibutyl Phthalate Spot Price.
Why did the price of Dibutyl Phthalate change in December 2025 in North America?
• Year-end restocking by PVC and adhesive buyers lifted the Price Index despite slightly softer utilities.
• Firm phthalic anhydride and n-butanol costs kept the Dibutyl Phthalate Production Cost Trend elevated.
• Balanced-to-tight regional supply and limited imports supported a higher Dibutyl Phthalate Spot Price.
Europe
• In Europe, the Dibutyl Phthalate Spot Price showed a softening pattern through Q4 2025, with the regional Price Index easing amid weaker industrial sentiment and ongoing regulatory pressure on traditional phthalate plasticizers.
• The Dibutyl Phthalate Demand Outlook was subdued as flexible PVC and coating applications continued to migrate toward non-phthalate or low-phthalate alternatives, while construction-related demand remained weak.
• The Dibutyl Phthalate Production Cost Trend peaked in early Q4 on still-elevated energy and feedstock prices, then declined into December as European gas and freight benchmarks softened, easing cost pressure on producers.
• Adequate regional supply, combined with competitive imports and substitution toward alternative plasticizers, increased competition among sellers and exerted downward pressure on the Price Index as distributors sought to trim inventories.
• The Dibutyl Phthalate Price Forecast for early 2026 in Europe is broadly bearish, with regulatory constraints, customer substitution, and modest construction activity expected to cap any upside.
• The Price Index decreased in December 2025 as lower energy and freight costs reduced the Dibutyl Phthalate Production Cost Trend, while weak demand and ongoing substitution away from DBP limited producers’ ability to maintain earlier price levels.
Why did the price of Dibutyl Phthalate change in December 2025 in Europe?
• Easing energy and logistics costs lowered overall production expenses, pulling the Price Index down.
• Ample regional supply and competitive imports pressured the Dibutyl Phthalate Spot Price.
• Regulatory-driven substitution and soft PVC demand weakened sellers’ pricing power and encouraged discounts.
For the Quarter Ending September 2025
APAC
• In India, the Dibutyl Phthalate Price Index fell 7.6% quarter-over-quarter, pressured by weak monsoon demand.
• The average Dibutyl Phthalate price for the quarter was approximately USD 1299.53/MT, reported by market desk.
• Dibutyl Phthalate Spot Price remained soft; inventories stayed elevated amid subdued construction and coatings demand.
• Dibutyl Phthalate Price Forecast indicates recovery potential post-monsoon supported by seasonal restocking and festival-driven procurement.
• Dibutyl Phthalate Production Cost Trend: limited inflation despite upstream n-butanol volatility, keeping margins under pressure.
• Dibutyl Phthalate Demand Outlook remains muted from construction delays and cautious PVC buyers avoiding purchases.
• Dibutyl Phthalate Price Index weakness reflected elevated inventories, subdued export enquiries, and competitive spot terms.
• Regional logistics and monsoon disruptions affected flows, yet supply remained adequate via efficient depot operations.
Why did the price of Dibutyl Phthalate change in September 2025 in APAC?
• Monsoon-related construction slowdown reduced PVC offtake in September, suppressing Dibutyl Phthalate demand across domestic markets.
• Upstream n-butanol cost increases and refinery outages raised production costs, limiting pass-through to weak buyers.
• Elevated depot inventories and cautious buyers led offers and spot selling, driving Price Index lower.
USA
• In the United States, the Dibutyl Phthalate (DBP) Price Index declined quarter-over-quarter, reflecting lower demand from the plastics and coatings sectors.
• The average DBP price for the quarter remained under pressure due to subdued PVC and construction activity.
• DBP Spot Price softened as high inventories and competitive import offers weighed on domestic trading sentiment.
• DBP Production Cost Trend showed stability, with moderate fluctuations in n-butanol feedstock costs and steady refinery operations.
• DBP Demand Outlook stayed subdued as construction projects slowed and PVC manufacturers reduced off-take volumes.
• DBP Price Forecast suggests slight recovery potential into Q4 2025 as seasonal restocking and packaging demand improve.
• Manufacturers adjusted plant operating rates, aligning output with lower domestic consumption and stable export interest.
• Freight and logistics normalization eased supply chain costs, preventing sharper declines in market prices.
Why did the price of Dibutyl Phthalate change in September 2025 in the USA?
• Weaker construction and PVC demand, along with high inventories, pressured prices lower despite stable feedstock costs.
Europe
• In Germany, the Dibutyl Phthalate (DBP) Price Index fell quarter-over-quarter, as subdued demand from coatings and plasticizer segments persisted.
• The average DBP price for the quarter was influenced by stable feedstock input costs and cautious downstream purchasing.
• DBP Spot Price weakened through September amid high stock levels and limited export activity across the EU.
• DBP Production Cost Trend remained broadly stable, as n-butanol prices fluctuated within a narrow range.
• DBP Demand Outlook stayed soft due to slower construction and packaging sector procurement, with buyers delaying restocking.
• DBP Price Forecast points to gradual stabilization into late 2025, driven by moderate recovery in industrial demand.
• Regional suppliers-maintained output discipline, managing inventories to balance the soft demand environment.
• Import and freight conditions remained steady, keeping landed cost movements limited across European hubs.
Why did the price of Dibutyl Phthalate change in September 2025 in Europe?
• Weak downstream demand and elevated inventories continued to exert downward pressure on regional DBP prices.
For the Quarter Ending June 2025
North America
• The Dibutyl Phthalate Price Index in North America exhibited a modest downward trend in Q2 2025. Prices softened gradually across the quarter, influenced by sluggish demand from the construction and housing sectors, which are major consumers of flexible PVC-based products.
• Why did the price of Dibutyl Phthalate change in July 2025?
In July, DBP prices continued their moderate decline as construction activity remained subdued, and manufacturers operated cautiously. Inventory levels were adequate, and restocking remained conservative amid economic uncertainty.
• Logistics conditions remained mostly normal during the quarter, although higher inland freight rates contributed to slight distribution cost increases for some suppliers.
• The Dibutyl Phthalate Production Cost Trend remained relatively stable, with steady feedstock supply and no major shifts in raw material pricing. However, narrow profit margins persisted due to limited downstream demand.
• Dibutyl Phthalate demand is projected to improve slightly if residential and commercial construction gains momentum. However, macroeconomic factors such as high interest rates and cautious spending could temper the pace of recovery.
APAC
• The Dibutyl Phthalate Price Index in India declined by an average of 1.7% over Q2 2025. Ex-Mumbai prices fell from USD 1423/MT in April to USD 1364/MT by end-June, pressured by soft downstream demand and muted construction activity.
• In April, prices rose by 1.0%, supported by a rebound in automotive sector demand. However, May and June saw a downturn, with prices falling 3.3% and 0.8% respectively, largely due to reduced offtake in flexible PVC applications and seasonal construction delays.
• Why did the price of Dibutyl Phthalate change in July 2025?
In July, DBP prices in India remained under downward pressure. Persistent monsoon-related construction slowdowns and weak coatings sector demand led to subdued depot activity and minimal restocking, keeping the Dibutyl Phthalate Price Index soft.
• Supply remained stable throughout Q2. DBP production continued at moderate-to-high utilization rates, supported by consistent feedstock n-butanol availability. Inventory levels were sufficient, and inland transportation flowed smoothly, except for brief monsoon-related disruptions in June.
• The Dibutyl Phthalate Production Cost Trend eased slightly in May as n-butanol prices fell by 3.8%, lowering input costs. However, margin gains were limited due to weak downstream demand and pricing competition.
• Dibutyl Phthalate Demand Outlook: Demand remained sluggish across the construction and paints sectors, especially during monsoon season. Automotive-related demand offered brief support, but bulk buying remained limited. Recovery is expected post-monsoon.
• The Dibutyl Phthalate Price Forecast for Q3 2025 remains neutral to slightly bearish. Unless demand from real estate and infrastructure projects rebounds significantly, prices are likely to remain range bound.
Europe
• In Q2 2025, the Dibutyl Phthalate Price Index in Europe also trended modestly downward. Prices declined steadily amid weak industrial activity and seasonal downturns in the construction and paints sectors.
• Why did the price of Dibutyl Phthalate change in July 2025?
The July price movement reflected ongoing pressure from low downstream consumption and limited demand recovery in Western Europe. Producers maintained cautious pricing strategies due to ample inventories and muted orders.
• Western European nations, including Germany and France, reported stagnant demand for flexible PVC goods, contributing to low buying sentiment and reduced contract volumes.
• The Dibutyl Phthalate Production Cost Trend was generally stable. However, environmental compliance and tightening regulations around phthalate-based plasticizers placed indirect cost burdens on European manufacturers.
• Q3 demand is expected to remain soft unless large-scale restocking or seasonal project activity resumes. Regulatory pressure may also limit uptake in certain industries.
• The Dibutyl Phthalate Price Forecast for Q3 2025 remains slightly bearish, with some potential for stabilization toward the end of the quarter if industrial activity rebounds modestly.
For the Quarter Ending March 2025
North America
In the first quarter of 2025, Dibutyl Phthalate (DBP) prices in North America experienced a steady decline, largely influenced by weak demand from key downstream sectors. The construction industry, which is a major consumer of DBP in plasticizer applications, remained sluggish due to high interest rates and reduced residential activity, leading to lower procurement levels. The PVC sector also exhibited restrained purchasing behaviour, further dampening demand for DBP during this period.
On the supply side, DBP availability remained sufficient throughout the quarter. Consistent domestic production and relatively stable upstream n-butanol costs ensured an uninterrupted supply flow. However, despite manageable input costs, the market faced excess inventory levels, driven by subdued buying interest and cautious procurement across downstream industries. This supply-demand mismatch kept market sentiment weak and exerted downward pressure on prices.
Overall, Q1 2025 reflected a bearish market for DBP in North America, with ample supply, reduced demand from key end-use sectors, and declining prices dominating the quarterly landscape.
APAC
During Q1 2025, Dibutyl Phthalate (DBP) prices in the APAC region followed a slightly declining trajectory, influenced by weak demand and stable supply conditions. Although upstream n-butanol prices rose initially, this did not translate into higher DBP prices due to subdued downstream consumption, particularly from the PVC and construction sectors. Oversupply and cautious procurement by buyers contributed to limited market movement, with sellers under pressure to maintain competitive pricing amid soft fundamentals.
Supply dynamics throughout the quarter remained steady, supported by consistent domestic production and sufficient feedstock availability. Despite brief cost pressures in the early part of the quarter, easing n-butanol prices toward the end helped stabilize input costs. No significant disruptions were observed in manufacturing or logistics, keeping the market well supplied.
Demand stayed muted across key sectors, including construction and automotive, as industrial activity remained sluggish. Buyers continued essential procurement only, with low inventory levels maintained across the board. Market sentiment remained cautious, limiting any potential rebound in DBP prices during the quarter.
Europe
In the first quarter of 2025, Dibutyl Phthalate (DBP) prices in Europe exhibited a consistent downward trend, primarily influenced by subdued demand from key downstream sectors. The construction industry, a significant consumer of DBP, remained sluggish due to economic uncertainties and reduced housing activities, leading to decreased consumption of plasticizers. This decline in demand disrupted the supply-demand balance, exerting downward pressure on DBP prices.
On the supply side, DBP availability remained ample throughout the quarter. Consistent domestic production and steady imports from Asia ensured sufficient market supply. Despite manageable input costs, the market faced excess inventory levels, driven by subdued buying interest and cautious procurement across downstream industries. This oversupply situation, coupled with weak demand, kept market sentiment bearish and exerted further downward pressure on prices.
Overall, Q1 2025 reflected a bearish market for DBP in Europe, characterized by ample supply, reduced demand from key end-use sectors, and declining prices. The combination of these factors contributed to a challenging market environment for DBP during this period.
