NORTH AMERICA
The price of Dibutyl Phthalate (DBP) in the US market expresses a bullish trend in the fourth quarter of the year.
Behind the bullish market behavior supply and product demand dynamics played a major role as the downstream industry responding fairly towards the products, construction sector was at a rising stage during the entire timeframe driven by the recovering economic condition of the country. Further, n-Butanol, primary feedstock had the key impact on the overall market breakthrough of the DBP.
In November 2023, a global price hike for the several chemicals was observed, which started affecting the price of primary feedstock, despite the demand from the downstream market witnessed the overall moderate trend including the downstream Plasticizer and the elastomers manufacturing companies. This upward trajectory in US prices stems from a confluence of factors, primarily driven by upward feedstock costs. Key raw materials, n-Butanol and Phthalic Anhydride, used in Dibutyl Phthalate prices production, have witnessed significant price increases during this timeframe. This directly translates to higher production costs for US manufacturers to offset the margins. This kept global prices on an upward trajectory, with the US market naturally following suit to remain competitive in the face of global competition.
APAC
The fourth quarter of 2023 witnessed a tumultuous period for Dibutyl Phthalate (DBP) in the APAC region. Supply and demand dynamics were greatly influenced by several key factors. Firstly, the market experienced a surge in raw material costs, particularly for phthalic anhydride and n-butanol, which significantly impacted DBP production costs. Further, the downstream industries, such as plasticizers and construction, witnessed varying levels of demand, leading to fluctuations in overall DBP consumption. Finally, the presence of raw material dumping from countries like China, South Korea, Indonesia, and Thailand further intensified competition among DBP manufacturers in the region. Among the APAC countries, India experienced the most significant changes in DBP prices. The country witnessed a bullish market with moderate supply and high demand. The increased demand from downstream industries, coupled with rising raw material costs, contributed to the upward trend in DBP prices. The quarter ended with a price of USD 1469/MT for DBP Ex-Delhi NCR in India. Overall, the Asian DBP market in Q4 2023 was marked by a complex interplay of supply and demand dynamics, raw material costs, and competition. India emerged as a key player experiencing price fluctuations and strong demand, despite the challenges faced by the industry.
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EUROPE
In the fourth quarter of the year, the price trend of Dibutyl Phthalate (DBP) in the European market witnessed a downward trajectory, driven by the narrow supply and demand gap as well as the overall low production cost of the product. Further, the fourth quarter of the year reported a highly volatile period for the major feedstock of Dibutyl Phthalate (DBP) i.e. n-butanol and phthalic anhydride. Noticeably, In Germany, n-Butanol got a price surge of around 2% in November 2023 resulting to maintain high production cost the Dibutyl Phthalate (DBP) hitting the spending sentiments in the domestic market of downstream household products. Adding to the complexity, dwindling demand from the downstream construction sector had a high impact. The Germany construction sector was stumbling during the defined timeframe, as higher interest rates drive up mortgage costs, house prices increased significantly in Germany and in most other European countries. On the other hand, In the third quarter, many chemical companies in Europe had started maintenance shutdown or production cut because of ongoing soft market in key economies like Germany, Belgium, UK and other parts of the Europe. Weak demand of the chemicals derived companies to close manufacturing plants across the Europe. Going forward, the chemical sector is expected to get a boost from the first quarter of 2024 as freezing cold overs and public outlay interest rates starts.
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