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ThailandDOP prices continued their downward trajectory in Q1 2025, falling by 8.65% to USD 1066/MT. The drop was largely a result of subdued industrial activity following the Spring Festival, which led to a temporary lull in demand from major end-use sectors like flexible PVC, artificial leather, and adhesives. Additionally, ongoing cost pressure from weak upstream markets and limited export interest added to the bearish tone. Many buyers remained hesitant, adopting a wait-and-see approach amid uncertainty in both domestic policy and global trade. Despite some signs of recovery in the broader chemical sector, the DOP market remained oversupplied and under pressure.
In Q4 2024, DOP prices dipped by another 2.42%, settling at USD 1167/MT. The decline was driven by seasonal demand slowdowns, with many downstream buyers opting to delay purchases or operate at reduced capacities ahead of the year-end. Additionally, feedstock prices remained soft, allowing producers to cut prices without eroding margins. The construction sector continued to face headwinds, and limited infrastructure activity further constrained demand for plasticizers. Meanwhile, some producers reduced run rates to prevent oversupply, but the impact was not sufficient to shift market dynamics, keeping the sentiment cautiously bearish.
Prices declined again by 6.42% in Q3 2024, reaching USD 1196/MT. The persistent downward movement was attributed to continued weak consumption from the PVC flooring and cable insulation sectors, despite the typically stronger summer demand season. High inventory levels and increased market competition led producers to offer lower prices to secure contracts. Although upstream prices showed brief signs of stabilization, they remained insufficient to support a price rebound. Export volumes also struggled due to pricing disadvantages in overseas markets, reflecting a broadly bearish sentiment across the industry.
In Q2 2024, DOP prices experienced a sharp decline of 14.80%, falling to USD 1278/MT. The substantial drop was mainly driven by a significant fall in upstream costs, particularly phthalic anhydride, amid oversupply and weak crude oil benchmarks. Domestic demand was underwhelming as the construction sector, a major consumer of DOP-based plasticizers, slowed down due to macroeconomic constraints and tighter credit conditions in the real estate industry. Additionally, competition from low-cost imports intensified pricing pressure, and high inventories from Q1 further dampened buying interest. The combination of soft demand and bearish feedstock trends created a highly pressured market environment.
DOP prices edged up slightly by 0.54% in Q1 2024, settling at USD 1500/MT. This marginal increase was supported by steady demand recovery post-Chinese New Year, as industrial operations resumed, and downstream sectors began restocking. However, price gains were capped due to lacklustre export demand and stable feedstock costs. Many buyers remained on the sidelines, anticipating clearer direction from global markets. Production rates stayed healthy, and while inventory levels were comfortable, the slight uptick reflected improved sentiment and a modest pickup in procurement activity, especially from the wire and cable manufacturing industries.
DOP prices corrected further in Q1 2025, with India Ex-Works prices falling by 7.15% to USD 1428/MT, and CIF Malaysia rates declining by 2.59% to USD 1202/MT. This price drop followed a sustained bearish trend, driven by soft post-festival demand and reduced industrial output during the financial year-end. Holi celebrations and state elections also caused intermittent shutdowns across regions, dampening consumption. At the same time, the global supply chain remained stable, and feedstock prices remained subdued, enabling importers to maintain low CIF values. With limited spot buying and no urgency to replenish stocks, both imported and domestic prices faced further downside pressure in early 2025.
DOP prices continued to decline in Q4 2024, with Ex-Works prices falling by 5.59% to USD 1538/MT and CIF Malaysia prices dropping sharply by 10.77% to USD 1234/MT. The sharp dip in import prices was largely attributed to excess exportable supply from Southeast Asian producers, particularly Malaysia, coupled with easing freight rates. In India, demand was seasonally weak as the year-end slowdown and festive holidays reduced industrial activity. Downstream converters also refrained from bulk purchases, preferring to deplete existing inventories. Domestic producers had to adjust pricing strategies to compete with low-cost imports, resulting in continued downward pressure.
In Q3 2024, prices dropped further, with India Ex-Works falling by 10.10% to USD 1629/MT and CIF Malaysia values declining by 4.02% to USD 1383/MT. The monsoon season, which typically slows construction and related industries, significantly curtailed DOP demand. High inventories and persistent price competition from Malaysian imports forced domestic suppliers to reduce prices. Furthermore, demand from the footwear and automotive interiors sectors remained sluggish due to consumer spending cutbacks. While feedstock availability was not a constraint, weak downstream activity across industries and aggressive import pricing drove a deeper correction in the domestic market.
DOP prices corrected in Q2 2024, with Ex-Works values dropping by 5.38% to USD 1812/MT, and CIF Malaysia rates declining by 7.03% to USD 1441/MT. The price retreat was driven by improved regional supply as Malaysian producers resumed normal operations, easing tightness in the import market. Simultaneously, domestic demand was weaker than anticipated, particularly from the real estate and auto-related segments, amid rising concerns about inflation and subdued project launches. Feedstock costs eased slightly, contributing to the correction. Importers remained cautious in placing forward orders due to price volatility and global economic concerns, pressuring both domestic and imported price points.
In Q1 2024, DOP prices strengthened across the Indian market, with Ex-Works prices rising by 8.44% to USD 1915/MT and CIF Malaysia imports increasing by 8.01% to USD 1550/MT. This bullish trend was driven by post-holiday restocking and improved demand from end-user industries resuming full operations after the New Year and Lunar New Year holidays. Additionally, production outages and turnarounds at regional DOP plants in Southeast Asia temporarily tightened supply, pushing CIF values higher. The domestic market saw strong procurement activity, particularly from the flexible PVC segment, while elevated feedstock costs (especially phthalic anhydride) contributed to the cost-push pressure.
PriceWatch is your trusted resource for tracking global dioctyl phthalate (dop) price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the dioctyl phthalate (dop) market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
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Impact: Growing environmental concerns have led to increased scrutiny on the use of phthalates like DOP, with some countries implementing stricter regulations or moving toward alternative plasticizers. This shift has created periodic disruptions in demand and price changes as the industry adjusts.
Impact: The war in Ukraine caused energy prices, particularly natural gas, to skyrocket in Europe, affecting global petrochemical supply chains. APAC, while not directly dependent on Russian energy, felt the ripple effects of the energy crisis, leading to increased production costs and a rise in DOP prices.
Impact: Post-pandemic recovery led to global shipping bottlenecks, increasing logistics costs. This, combined with high demand for raw materials, drove up DOP prices. Shortages of key raw materials like 2-ethylhexanol, used in DOP production, added to the price increases.
Impact: The pandemic disrupted global supply chains and caused a significant drop in demand for industrial products, including those using DOP. Lockdowns and production halts across APAC reduced both supply and demand, leading to price volatility. In the early phase of the pandemic, prices fell due to low demand, but later recovered as economies reopened and demand surged.
Impact: The trade conflict between the US and China introduced uncertainty into global markets, particularly in industries like chemicals and plastics. Tariffs and supply chain disruptions contributed to fluctuations in the price of DOP as demand weakened in certain sectors.
Impact: China, a major producer and consumer of DOP, imposed stringent environmental regulations as part of its efforts to combat pollution. This led to plant closures and reduced output in the chemicals industry, creating supply shortages that pushed up DOP prices in the APAC region.
DOP prices are closely linked to the price of crude oil since petrochemical derivatives are used in its production. The sharp drop in oil prices in 2014-2016 due to oversupply and the US shale boom led to a reduction in the cost of raw materials, bringing down DOP prices during this period.
These events underscore the DOP market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable DOP pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Dioctyl Phthalate (DOP), a colorless, oily liquid synthesized from phthalic anhydride and 2-ethylhexanol (both petroleum-derived), serves as a widely used plasticizer in the production of polyvinyl chloride (PVC) products. DOP enhances the flexibility, durability, and processability of PVC, making it suitable for a broad range of applications.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Purity, % | >99% |
| Chroma | <40 |
| Destiny, (20ºC), g/cm3 | 0.982-0.988 |
| Acidity (%) | ≤0.015 |
| Flash Point (°C) | ≥192 |
| Water Content, % | ≤0.15 |
Applications
DOP is widely used in PVC and ethyl cellulose resins to make plastic film, imitation leather, electric wire, wood coatings, etc.
Since Dioctyl Phthalate (DOP) is derived from petrochemical feedstocks like Phthalic Anhydride and 2-ethylhexanol, fluctuations in crude oil prices have a direct impact on its production costs. Any significant rise in oil prices leads to higher feedstock costs, which in turn drives up DOP prices. Conversely, a decline in oil prices can contribute to lower production costs and price reductions. Procurement professionals should monitor oil price trends as an indicator of potential DOP price shifts.
Stringent environmental regulations concerning phthalates, particularly in regions like the EU and North America, have led to increased scrutiny and potential restrictions on DOP use in certain applications. This regulatory landscape can influence production costs, market demand, and even supply chain dynamics as manufacturers look for alternative plasticizers. Companies relying on DOP should stay updated on regulatory changes and evaluate alternative sourcing or substitution strategies if necessary.
Supply chain disruptions, such as port congestion, raw material shortages, or geopolitical instability, can lead to delays in production and distribution, pushing DOP prices higher. Additionally, fluctuations in freight costs and transportation availability further contribute to market instability. To minimize risks, procurement teams should consider diversifying suppliers, securing long-term contracts, or maintaining safety stock to navigate supply chain uncertainties.
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